Aid Applications Open for Michigan Businesses Flooded by Rain

Applications are now open for Michigan’s small businesses impacted by excess rain from Oct. 1, 2019 through June 2, 2020.

The U.S. Small Business Administration (SBA) is making Economic Injury Disaster Loans of up to $2 million available to eligible small businesses, agricultural cooperatives, and nonprofits in Clinton, Gratiot, Ionia, Isabella, Midland, Montcalm, Saginaw, and Shiawassee counties.

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Gov. Northam Announces Rebuild VA Grant Fund Eligibility Expanded

The eligibility for the REBUILD! VA Grant Fund for businesses, nonprofits impacted by COVID-19 has been expanded to a wider scope of small businesses, according to a news release. 

The expansion of grant program, administered by the Department of Small Business and Supplier Diversity (SBSD), now includes small hotels, bed and breakfast facilities and Virginia film companies as well as companies that provide goods or services to eligible businesses. 

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More Than Half of Business Closures Caused by Economic Lockdowns Are Permanent, Yelp Data Show

More than half of American businesses that closed down due to economic lockdowns are permanently shuttered, according to data Yelp published Wednesday.

There’s been a 23% increase in the number of business closures since mid-July, with the number of permanent closures reaching 96,966, representing 60% of closed businesses that will not be reopening, the data show.

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Virginia Loan Authority has Millions of Unused Funds Available for Small Businesses, Report says

The Virginia Small Business Financing Authority (VSBFA) is doing a poor job issuing loans for small businesses with millions in unused funds available, according to a new report by the Joint Legislative Audit and Review Commission (JLARC) released Monday. 

The VSBFA is a part of the Virginia Department of Small Business and Supplier Diversity, but operates separately from the rest of the agency. 

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NFIB Survey: 1 in 5 Small Business Owners Say They Will Close If Economic Conditions Don’t Improve Within Six Months

More than 20 percent of small business owners said they will have to close permanently if current economic conditions do not improve within the next six months, according to a survey conducted by the National Federation of Independent Business.

The largest small business association in the U.S., headquartered in Nashville, conducted the survey to assess the financial health of small businesses.

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Paycheck Protection Program Is Supporting More Than 51 Million Small Business Jobs, Trump Administration Announces

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.

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Coronavirus Restrictions Devastate Black Business Owners, Who Are Down 41 Percent: Study

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.

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U.S. Senate Passes Bill to Help Small Businesses Gain Easier Access to Federal Assistance

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.

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Boutique Venues of Nashville Owner Dan Cook Can’t Get Response From Mayor Cooper’s Office Regarding His Declining Business

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.

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Owner Carey Bringle of the Peg Leg Porker BBQ Restaurant in Downtown Nashville Joins Leahy to Discuss His Recent Letter to Mayor Cooper

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.

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Business Groups Paint Dim Picture of Ohio Economy, Urge DeWine to Reopen ‘Sooner Rather Than Later’

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.

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Coronavirus: Senator Kerry Roberts Advises the Need for Official Announcements in a Timely Manner for All Tennesseans

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.)

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Ohio House Passes Tax Increases on Small Businesses During Small Business Week

  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.…

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