The Internal Revenue Service, the U.S. Department of the Treasury and the Bureau of the Fiscal Service announced they are disbursing approximately 37 million payments in the second batch of Economic Impact Payments from the American Rescue Plan. This brings the total disbursed payments from the American Rescue Plan to approximately 127 million payments worth approximately $325 … [More]
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Another 37 Million Economic Impact Payments from the American Rescue Plan Disbursed
inbusinessPHX.com
SBA to Increase Lending Limit for COVID-19 Economic Injury Disaster Loans
U.S. Small Business Administration
The U.S. Small Business Administration is increasing the maximum amount small businesses and non-profit organizations can borrow through its COVID-19 Economic Injury Disaster Loan (EIDL) program. Starting the week of April 6, 2021, the SBA is raising the loan limit for the COVID-19 EIDL program from 6-months of economic injury with a maximum loan amount of $150,000 to up to … [More]
Stimulus: More Economic Impact Payments Set for Disbursement in Coming Days
inbusinessPHX.com
For taxpayers receiving direct deposit, this batch of payments began processing on Friday and will have an official pay date of Wednesday, March 24, with some people seeing these in their accounts earlier, potentially as provisional or pending deposits. A large number of this latest batch of payments will also be mailed, so taxpayers who do not receive a direct deposit by March … [More]
SBA Re-Opening Paycheck Protection Program to Small Lenders on Friday, January 15 and All Lenders on Tuesday, January 19
U.S. Small Business Administration
The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, will re-open the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or less in assets for First and Second Draw applications on Friday, January 15, 2021 at 9 am ET. The portal will fully open on Tuesday, January 19, 2021 to all participating PPP lenders … [More]
SBA Re-Opens PPP in Two Phases
U.S. Small Business Administration
The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, re-opened the Paycheck Protection Program (PPP) loan portal Monday at 9 am ET. SBA is continuing its dedicated commitment to underserved small businesses and to addressing potential access to capital barriers by initially granting PPP access exclusively to community financial institutions … [More]
BREAKING: SBA and Treasury Announce PPP Re-Opening; Issue New Guidance
U.S. Small Business Administration
The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January … [More]
Ducey Provides Additional Funding to Support Local Restaurants
State of Arizona Office of the Governor
Governor Doug Ducey announced an additional $2 million to further help local restaurants and other dining establishments expand outdoor dining, protect patrons and staff, and limit the spread of COVID-19. “Arizona restaurant owners and their employees have worked diligently to serve patrons and limit the spread of COVID-19,” said Governor Ducey. “Many restaurants have … [More]
Applications for Arizona Small Business Rent and Mortgage Relief Grants Reopen Oct. 8
Local First Arizona
In August, the Governor’s Office partnered with Local First Arizona Foundation to launch the Arizona Small Business Rent and Mortgage Relief Grant program and distribute $10 million in grants to small businesses who were required to shutter their doors during this pandemic. Starting Oct. 8, 2020, at 2 p.m., applications will reopen for gyms, fitness centers and studios, bars … [More]
Scottsdale City Council Approves Arts and Culture Coronavirus Grant Program
Scottsdale Arts
The Scottsdale City Council has approved $1.5 million from the city’s Federal CARES Act funding to help nonprofit arts and culture organizations affected by the coronavirus pandemic. Grant funding will support programming and safe, alternative facilities reopening. “Scottsdale has always appreciated and supported arts and culture activities – they’re a vital part of our … [More]
Ducey Asks for Extended Unemployment, Utility Assistance, Liability Protection
State of Arizona Office of the Governor
Governor Doug Ducey sent a letter to the Arizona Congressional Delegation providing his input on the next phase of the COVID-19 relief package being discussed in Congress. In the letter, the Governor requested an extension of the Federal Pandemic Unemployment Compensation, which is set to expire this month. In addition to discussing unemployment assistance, the Governor also … [More]
SBA Provided $20 Billion to Small Businesses and Nonprofits, EIDL Program to End
U.S. Small Business Administration
The U.S. Small Business Administration announced the conclusion and success of the Economic Injury Disaster Loan (EIDL) Advance program, which provided U.S. small businesses, non-profits and agricultural businesses a total of $20 billion in emergency funding. In order to assist the greatest number of small businesses, the EIDL Advance provided $1,000 per employee up to a … [More]
Substantial Contribution to Business Grant Program Provides for Additional Awards
BBB Serving the Pacific Southwest
Better Business Bureau Serving the Pacific Southwest (BBB) recently launched Main St. Matters, a grant program to provide emergency funds to businesses affected by the current crisis. In a matter of days, over 700 applications came pouring in from businesses in need of this support to relieve pandemic strains. This unprecedented demand for emergency small business relief … [More]
Disaster Loan Programs Reopened for Eligible Small Businesses and Nonprofits
Small Business Administration
To further meet the needs of U.S. small businesses and non-profits, the U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19 today. “The SBA is strongly committed to working around the clock, providing dedicated emergency assistance to the … [More]
New and Revised Guidance Regarding the Paycheck Protection Program
Small Business Administration
The U.S. Small Business Administration, in consultation with the U.S. Department of the Treasury, issued new and revised guidance for the Paycheck Protection Program (PPP). This guidance implements the Paycheck Protection Program Flexibility Act (PPPFA), signed into law by President Trump on June 5, 2020, and expands eligibility for businesses with owners who have past felony … [More]
More than $748M in Arizona Unemployment Assistance Issued Last Week, Highest Ever
Arizona Department of Economic Security
The Arizona Department of Economic Security (DES) announced the availability of Pandemic Emergency Unemployment Compensation (PEUC), which provides a 13-week extension of benefits to individuals who have exhausted their state unemployment insurance (UI) and remain unemployed. PEUC launched on June 7. “While Arizona is safely reopening, there is still a significant need for … [More]
Loan Program Adjusted for Small and Medium-Sized Businesses
Federal Reserve Board
The Federal Reserve Board on Monday expanded its Main Street Lending Program to allow more small and medium-sized businesses to be able to receive support. The Board lowered the minimum loan amount, raised the maximum loan limit, adjusted the principal repayment schedule to begin after two years, and extended the term to five years, providing borrowers with greater flexibility … [More]
National Banking Groups Call for Automatic PPP Forgiveness on Loans under $150K
AQN Strategies
The Consumer Bankers Association and Bank Policy Institute today called on Congress to pass legislation automatically forgiving Paycheck Protection Program loans of $150,000 and less. Approximately 85 percent of all PPP loans would be eligible for this automatic forgiveness. Requiring the 3.7 million eligible PPP recipients in this category to simply verify funds were used … [More]
Small Business Administration Updates on PPP and EDIL
Small Business Administration Arizona
The Small Business Administration Arizona, today, released the following updates for Arizona small businesses related to the PPP LOan and EDIL Loan programs SBA Releases PPP Loan Forgiveness Application and Instructions The SBA, in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application (Spanish … [More]
