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]
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SBA Provided $20 Billion to Small Businesses and Nonprofits, EIDL Program to End
U.S. Small Business Administration
Up to $10,000 Grants Available to Qualifying Small Businesses, Only Certain Cities Eligible
by Mike Hunter
The Maricopa County Board of Supervisors has created a new $23 million COVID-19 business relief program. Small businesses, home-based businesses, mobile businesses and non-profits are eligible for up to $10,000 grants to reimburse businesses for expenses and losses. Applications will be accepted from July 9 through July 31, 2020. "This grant program will truly make a … [More]
Paycheck Protection Program Loan Data Released, 4.9M Loans Made To Date
U.S. Small Business Administration
The U.S. Small Business Administration, in consultation with the Treasury Department, today announced it was releasing detailed loan-level data regarding the loans made under the Paycheck Protection Program (PPP). This disclosure covers each of the 4.9 million PPP loans that have been made. “The PPP is providing much-needed relief to millions of … [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]
New Phoenix Grant Helps Businesses with Commercial City Services Bills
City of Phoenix
Phoenix businesses struggling to stay current with city of Phoenix water and sewer bills can apply for financial assistance through the Phoenix Commercial City Services Bill Relief Grant. The city’s Water and Community and Economic Development departments are partnering on this new COVID-19 health emergency assistance program. “The city’s grant program has been delivering to … [More]
Dedicated Tool for Small Businesses to Connect with CDFIs, Small Asset Lenders Participating in PPP
Small Business Administration
The U.S. Small Business Administration Administrator Jovita Carranza announced the launch of a dedicated online tool for small businesses and non-profits to be matched with Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), Farm Credit System lenders, Microlenders, as well as traditional smaller … [More]
SBA and Treasury Announce Enhanced Transparency Regarding PPP
Small Business Administration
The U.S. Small Business Administration and the U.S. Department of the Treasury have agreed with the bipartisan leaders of the U.S. Senate Small Business Committee to make public additional data regarding the Paycheck Protection Program (PPP). This agreement will ensure that the interests of both transparency and protections for small businesses are served. “We are striking … [More]
Act Now on PPP Loan Forgiveness
B2B CFO
While the initial concern for business owners was getting funding from the PPP so they could continue to pay their employees, now the focus is on forgiveness of the loans. The next challenge for business owners is getting their PPP loans forgiven. The rules on forgiveness have changed so often, it’s hard for business owners to keep up. Congress has extended the period in which … [More]
New EZ and Revised Full Forgiveness Applications for the PPP
Small Business Administration
The U.S. Small Business Administration, in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020. In addition to revising the full forgiveness application, SBA also published a new EZ … [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]
Paycheck Protection Program Flexibility Act Guidelines Coming, Says SBA
Small Business Administration
Following the enactment of the Paycheck Protection Program (PPP) Flexibility Act, the Small Business Association, in consultation with U.S. Treasury, will promptly issue rules and guidance, a modified borrower application form, and a modified loan forgiveness application implementing these legislative amendments to the PPP. These modifications will implement the following … [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]
Arizona Micro and Small Businesses Benefit from Local Grant Program
Local First Arizona
Small businesses across Arizona have lost federal dollars to larger companies in urban areas — that is no secret. Lack of access to SBA-partnered community banks limited opportunities for many. Local First Arizona is proud to join forces these three partners to distribute grants — not loans — to businesses across the state. BHP: $250,000 donated to provide immediate … [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]
Low-Income Communities Now Able to Access $10B in Funds as Part of PPP
U.S. Small Business Administration
The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, announced that it is setting aside $10 billion of Round 2 funding for the Paycheck Protection Program (PPP) to be lent exclusively by Community Development Financial Institutions (CDFIs). CDFIs work to expand economic opportunity in low-income communities by providing access to financial … [More]
