The $670 billion Paycheck Protection Program (PPP) has supported more than 51 million jobs since its launch in April, the Treasury Department and Small Business Administration announced Monday as it released information on 4.9 million loans disbursed by the program.
“The PPP is providing much-needed relief to millions of American small businesses, supporting more than 51 million jobs and over 80 percent of all small business employees, who are the drivers of economic growth in our country,” Treasury Secretary Steven Mnuchin said in a statement Monday. Read More
The coronavirus pandemic has led to the largest drop in small business ownership in the United States, hurting black business owners the most, according to a June study from an economic research organization.
3.3 million business owners are not actively working, and 22% of the closures came during the February-to-April window of coronavirus restrictions, reported Axios, citing a National Bureau of Economic Research working paper. In the whole Great Recession of 2008, small business owners shrank by 730,000 at 5% reduction, the study noted. Read More
The U.S. Senate passed the Paycheck Protection Flexibility Act Wednesday night to make it easier for small businesses to access loans through the Paycheck Protection Plan (PPP). The bill awaits President Donald Trump’s signature.
Introduced by Republican Congressman Chip Roy of Texas and Democratic Congressman Dean Phillips of Minnesota, the bill eases restrictions for small businesses that were approved for the PPP program. Read More
On Friday’s Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 a.m. to 8:00 a.m. – host Michael Patrick Leahy and all-star panelist Crom Carmichael welcomed the owner of Nashville Boutique Venues Dan Cook to the newsmakers line.
During the third hour, Cook described his attempts to contact Mayor John Cooper’s office to discuss the phase openings and how it’s negatively impacted his business. He expressed his disappointment that he has not received any type of return communication from the mayor’s office after several attempts but appeared hopeful with the local media attention he’s been able to attain. Read More
The city of Lakefield, Minnesota will no longer direct any resources to the enforcement of Gov. Tim Walz’s stay-at-home order issued in response to the coronavirus pandemic. Read More
Live from Nashville, Tennessee, Friday morning on The Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 a.m. to 8:00 a.m.– Leahy was joined on the newsmakers line by Carey Bringle who is the local business owner of the popular BBQ restaurant located in The Gulch of downtown Nashville the Peg Leg Porker. Read More
The coronavirus pandemic has taken out another Minnesota business, this time the famous Izzy’s Ice Cream in St. Paul. Read More
A group of small business owners announced Wednesday that they are suing the state of Minnesota over the “unconstitutional” restrictions imposed on them during the coronavirus pandemic. Read More
Six of the state’s most influential business organizations sent a letter to Gov. Mike DeWine last week urging him to reopen the economy as nearly one million Ohioans have now filed unemployment claims since the start of the coronavirus pandemic. Read More
The Ohio Department of Health was sued in federal court Thursday for its ban on “non-essential 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
More than 19,000 small businesses across Tennessee have received forgivable loans from the federal government under the Paycheck Protection Program. Read More
On Tuesday’s Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 a.m. to 8:00 a.m. – Michael Patrick Leahy welcomed his weekly regular guest and all-star panelist Tennessee state Senator Kerry Roberts (R-Springfield.) Read More
The Ohio House passed House Bill 166 Thursday, its version of the state’s biennial budget. While the bill includes substantial income tax reductions, some groups aren’t pleased with the impact it will have on small businesses. Under the bill, Ohio’s Business Investment Income Deduction would be lowered to $100,000.… Read More