CORONAVIRUS SMALL BUSINESS RELIEF: COMPARING THE TWO MAIN LOAN PROGRAMS But a caveat from the government: Because so many owners are expected to take advantage of the loans, it's anticipated that no more than 25% of the forgiven amount may be for things other than payroll — rent, mortgage...
Kevin Lamarque | Reuters Multiple businesses with ties to President Donald Trump received millions of dollars in small business relief loans backed by the administration. Trump is linked to the firms and their executives through business deals conducted with his company, the Trump Organization, ...
Coronavirus Aid, Relief, and Economic Security Act (CARES Act)was additionally, signed by the President on March 27, 2020. It includes provision for an eligible employer to claim a refundable payroll tax credit for retaining employees during the COVID-19 crisis. An eligible employer, for purpose...
Nearly a quarter (23%) of small businesses report temporarily closing their business entirely since the start of the COVID-19 pandemic. As of right now, however, eight in ten report they are either fully (41%) or partially (38%) open. ...
On June 20, 2020, inLatest News, by The Somerville Times $1 million in emergency small business support to be distributed to 123 local small businesses Mayor Joseph A. Curtatone today announced that $1 million in Somerville Small Business COVID-19 Relief funds will be awarded to 123 local,...
Almost two years into the Covid-19 pandemic, many small businesses are still struggling. Whilefinancial assistancefor those impacted bythe crisishas ended, some of the hardest-hit industries, including gyms, hotels and restaurants, are pushing for more relief. For many, the omicron surge dealt ...
SMALL BUSINESS RELIEF IN THE TIME OF COVID-19: DESERVINGNESS JUDGMENTS LEAD THE PPP TO FAILUREHENDRICKS, BLAIRJournal of Civil Rights & Economic Development
The most vulnerable small businesses face both financial and COVID-related challenges (Exhibit 1). 1 Before the crisis, small businesses accounted for nearly half of all private-sector jobs. Widespread business exits wreak longer-lasting unemployment and economic damage than temporary shut...
In an effort to relieve economic uncertainty due to the Covid-19 pandemic, the government has proposed four measures aimed to provide financial relief to small businesses. The measures issued so far include low-interest loans guaranteed by the Small Business Administration, employer tax credit, Go...
Like many small business owners, Tobi Parks saw her business devastated by theCovid pandemic. Parks had to shut the doors of her independent arts and music venu,exBk, in Des Moines, Iowa, in March of 2020. It didn’t reopen until more than a year later. ...