Restaurants can now apply for up to $10 million in COVID-19 relief funds through the Restaurant Revitalization Fund (RRF), a part of the recently passed American Recovery Plan (ARP). The RRF will provide a minimum $1,000 in funds to eligible restaurants and similar businesses to replace funds lost due to the pandemic.Read More
As the Small Business Administration official who oversaw the Paycheck Protection Program, I’m often asked, “Did PPP actually work?”
PPP was a response to state and local governments mandating shutdowns as a way to slow the spread of COVID-19. The premise was this: Encourage lenders to provide small businesses and nonprofits with forgivable, SBA-guaranteed loans over an eight-week period as a payroll-support measure. This small business financial support was designed to help prevent mass unemployment as Americans were confined to their homes.Read More
Tennessee small businesses that experienced the largest increases in the number of employees over the past five years are exempt from the requirement to ensure that their employees are not illegal aliens through the use of the federal government’s e-verification system.
At the federal level, E-Verify is a voluntary program.Read More
The Small Business Administration hid communications with Planned Parenthood regarding COVID-19 loans that Republicans say were illegal, emails obtained by the Daily Caller News Foundation show.
The SBA released heavily redacted emails between the agency, lenders and Planned Parenthood affiliates in response to a Freedom of Information Act request the DCNF filed in May 2020. GOP lawmakers had previously demanded an investigation into $80 million in Paycheck Protection Program (PPP) loans, saying they were obtained illegally.Read More
An Ohio man is one of five being indicted in a $4 million Payroll Protection Program (PPP) fraud case.
The accused allegedly submitted, or assisted in the submission of a fraudulent PPP loan for five businesses according to the indictment. Khalil Gibran Green Sr. of Cleveland claimed to be the sole owner of Impact Creations LLC, a company that claimed to have 67 employees and an average monthly payroll of $332,000 on a PPP application.Read More
The Small Business Administration and the U.S. Treasury revealed Sunday that the second round of the Paycheck Protection Program has issued 2.2 million loans, totaling $175 billion.
PPP loans are forgivable loans for small businesses to offset some of the losses experienced by the response to the COVID-19 pandemic. The loans are meant to provide a direct incentive for small businesses to keep their workers on the payroll.Read More
The Los Angeles Lakers received and then returned a forgivable loan of roughly $4.6 million under a federal program designed to help small businesses during the coronavirus pandemic.Read More
More than 38,000 small businesses across Ohio have received forgivable loans from the federal government under the Paycheck Protection Program.Read More
Officials at Tennessee State University have scheduled a one-day forum on Opportunity Zones for Tuesday, March 3.Read More