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PPP Targets Smallest of Small Businesses in Round 3
From February 24 through March 9, only loan applications from businesses with less than 20 employees will be accepted. The goal is to give mom and pops, like those run by women, people of color and even non-citizens, who haven’t established a lending relationship with a bank, a chance to go to the front of the line.
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Biden Announces Revamp of Paycheck Protection Program for Small Businesses
President Joe Biden held a press conference detailing a plan for rolling out a Paycheck Protection Program designed to help small businesses trying to stay afloat through the pandemic. Only companies with fewer than 20 employees can apply for the forgivable loans under the revamp. Meanwhile, Biden’s pick for Attorney General, Merrick Garland, faces a two-day confirmation hearing in front...
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Biden Changes PPP Rules to Give Smallest Businesses Access to Loans
President Joe Biden is targeting more federal pandemic assistance to the nation’s smallest businesses and ventures owned by women and people of color. The administration is establishing a two-week window, starting on Wednesday, in which only businesses with fewer than 20 employees can apply for forgivable loans under the Paycheck Protection Program.
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PPP Reboot: Business Advocates Hope More Funds Get to Those in Need
With a new administration in Washington, there will be a new approach to hundreds of federal programs and how they impact people. Top of the list for many? The third round of the Payroll Protection Program. A number of smaller, minority owned businesses struggled during the pandemic despite a massive, multi-billion dollar Paycheck Protection Program (PPP) designed to help...
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Minority-Owned Companies Waited Months for Loans, Data Shows
Thousands of minority-owned small businesses were at the end of the line in the government’s coronavirus relief program as many struggled to find banks to accept their applications
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Tax Help for PPP Recipients?
Relief appears to be on the way for small businesses concerned about getting taxed on their Paycheck Protection Program (PPP) loans. NBC Connecticut Investigates told you earlier this month about a surprise many businesses were discovering just as they started closing out their books for the year. Chris Goslin struggled for weeks to get a PPP loan for her Groton…
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Feds Seize Millions in PPP Funds From International Ministry
The U.S. Secret Service seized more than $8 million from accounts linked to ASLAN International Ministry, which got PPP funds.
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Many Restaurants Are on the Brink of Closing. Here's How to Help Them Stay Afloat
The coronavirus pandemic has been incredibly damaging for the restaurant industry in the United States: The National Restaurant Association estimates that at least 17% of the country’s food service establishments have already shuttered, with 10,000 restaurants having closed their doors in just the past three months.
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Anti-Gay Nonprofits, Businesses Received Millions in Covid-19 Aid
A number of organizations, schools and businesses with either a history of anti-LGBTQ advocacy or policies that explicitly discriminate against lesbian, gay, bisexual, transgender and queer individuals have received millions in pandemic relief funding, according to an NBC News analysis of data released last week by the Small Business Administration. The Paycheck Protection Program (PPP) — which was intended to help…
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A Maine Farm No One Has Ever Heard of Received $1.2M PPP Loan
A Paycheck Protection Program loan for nearly $1.2 million issued to an organic farm operator allegedly located in western Maine has raised suspicion after a massive disclosure of federal records about the small business relief program. According to records released by the U.S. Small Business Administration, Common Ground Organic Farm LLC, based in Bridgton, received the loan. The records show…
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Accused Hate Groups Receive Pandemic Aid
Fourteen organizations designated as hate groups by the Southern Poverty Law Center or the Anti-Defamation League have received funding from the Paycheck Protection Program totaling nearly $4.5 million, according to data released last week by the Small Business Administration revealing who benefited from the pandemic federal relief funds.
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‘I Would've Just Taken Unemployment': Small Businesses Surprised by PPP Taxes
Groton salon owner Chris Goslin said she struggled to get a Paycheck Protection Program loan. She said looking back at it now, she never would have taken one if she knew about the tax consequences. It’s a nasty surprise for some business owners. When we last spoke with Goslin in April, she was battling to get a small forgivable Paycheck...
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Business Owners Express Surprise Over PPP Loan Taxes
Some business owners say they regret accepting Paycheck Protection Program loands because of the tax consequences.
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What Business Owners Need to Know About the Paycheck Protection and Main Street Lending Programs
Are you a business owner looking for help to get through the coronavirus pandemic? Ami Kassar, the CEO of MultiFunding and a small business advocate, breaks down what you need to know about the Main Street Lending Program and the Paycheck Protection Program.
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AP: Catholic Church Lobbied for Taxpayer Funds, Got $1.4B
The U.S. Roman Catholic Church used a special and unprecedented exemption from federal rules to amass at least $1.4 billion in taxpayer-backed coronavirus aid
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What Unites Planned Parenthood, Kushner and Kanye? PPP Loans
The government’s small business lending program has benefited millions of companies, with the goal of minimizing the number of layoffs Americans have suffered in the face of the coronavirus pandemic. Yet the recipients include many you probably wouldn’t have expected.
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Senate Extends Small Business Coronavirus Relief Program
Democrats have driven a temporary extension of a popular subsidy program for small businesses through the GOP-controlled Senate.
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Billions of Dollars in Aid for Small Businesses Go Unclaimed
Billions of dollars offered by Congress as a lifeline to small businesses in the pandemic are about to be left on the table when a key government program stops accepting loan applications
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Paycheck Protection Program Reforms
Relief will soon come for the 56,000-plus Connecticut business owners who have taken advantage of the federal Paycheck Protection Program designed to help during the coronavirus pandemic. Penny Lane Pub co-owner Alex Foulkes said he is back up and running after a long shutdown thanks to the novel coronavirus, but it’s far from full speed with numerous social distancing...
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Paycheck Protection Program Update
More relief is on the way for thousands of Connecticut business owners who have taken advantage of the federal paycheck protection program in the form of easing loan terms