Axela Technologies, the leading provider of collection solutions for community associations, has announced a funding program that will provide a financial lifeline at a time when HOAs and condos need it most. The funding is available nationwide, effective immediately. “We realize that times are tough, and they are going to get more difficult for community associations,” said … [More]
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As Stimulus Funds Dry Up, Private Sector Firm Provides Funding to Community Associations
Axela Technologies
Communities Impacted by COVID-19 See $1.5 Billion in CARES Act Funds Available
Economic Development Administration
U.S. Secretary of Commerce Wilbur Ross today announced that the Department’s Economic Development Administration (EDA) is now accepting applications from eligible grantees for Coronavirus Aid, Relief, and Economic Security Act (CARES Act) supplemental funds (EDA CARES Act Recovery Assistance) intended to help communities prevent, prepare for, and respond to … [More]
Valley Credit Union Surpasses 450 Processed PPP Loans
Arizona Federal Credit Union
In the wake of COVID-19, small business owners in Maricopa County turned quickly to apply for, and receive, financial assistance through the Small Business Administration Paycheck Protection Program (PPP). Arizona Federal Credit Union quickly responded to this influx of requests from its member-owners to help them navigate the process and get the business-saving loans to keep … [More]
EIDL Loans Now Open to Farmers, Fishers and Ranchers for COVID-19 Relief
American Sustainable Business Council
The Emergency Injury Disaster Loan (EIDL) Advance/Loan portal is temporarily open for agricultural businesses that were previously ineligible for the program. New non-agricultural business applications will not be accepted. The portal will be opened for a limited period, and it is recommended that you apply as soon as possible. The link to the portal will be: … [More]
Food, Tourism, Healthcare to Get Boost through Grants from Scottsdale Economic Group
Scottsdale Industrial Development Authority
The Scottsdale Industrial Development Authority is stepping up with an innovative infusion of capital for small businesses walloped by the economic tsunami of COVID-19. The new program provides $200,000 of funding in $5000 grants for local businesses in the food and beverage, tourism and healthcare sectors, which have been especially hard hit by this global … [More]
SBA Disaster Relief Loans Available to Agricultural Businesses
Small Business Administration
U.S. Small Business Administration Administrator Jovita Carranza announced today that agricultural businesses are now eligible for SBA’s Economic Injury Disaster Loan (EIDL) and EIDL Advance programs. SBA’s EIDL portal will reopen today as a result of funding authorized by Congress through the Paycheck Protection Program and Healthcare Enhancement Act. The legislation, signed … [More]
A Critical Look at the Main Street Lending Program
by Troy Keller
Yesterday, the Federal Reserve announced new terms for its Main Street Lending Program that expand the eligibility criteria to cover more potential borrowers and increase the scope of eligible loans under the program. The revised Main Street Lending Program will now include three categories of loans, depending on whether the loan is a new loan or an expansion of an existing … [More]
JPMorgan Chase Reports Its PPP Loans, Arizona Receives $1.2 Billion
JPMorgan Chase
JPMorgan Chase announced that it has received approval for an additional 211,000 loans through “Round Two” of the Paycheck Protection Program (PPP), totaling about $15 billion to its small business customers. In total, the firm is expected to fund about $29 billion to over 239,000 businesses under the PPP since its inception a little over three weeks ago, helping to support 3 … [More]
SBA to Help Arizona Small Businesses Access Relief Funds through Free Training
by Mike Hunter
The Arizona Chamber of Commerce & Industry and the Arizona Small Business Association (ASBA) are partnering with the U.S. Small Business Administration’s Arizona District Office to offer direct assistance to small businesses through the CARES Act Readiness Program for Small Businesses. This is a free training program that helps both novice and experienced borrowers navigate … [More]
In Business | Stimulus |
Federal Reserve Expands Access Facilitating Lending to Small Businesses
Federal Reserve Board
The Federal Reserve on Thursday expanded access to its Paycheck Protection Program Liquidity Facility (PPPLF) to additional lenders, and expanded the collateral that can be pledged. The changes will facilitate lending to small businesses via the Small Business Administration's (SBA) Paycheck Protection Program (PPP). As a result of the changes, all PPP lenders approved by … [More]
In Business | Stimulus |
Reserve Board Expanding Scope and Eligibility for the Main Street Lending Program
Federal Reserve Board
The Federal Reserve Board on Thursday announced it is expanding the scope and eligibility for the Main Street Lending Program. As part of its broad effort to support the economy, the Federal Reserve developed the Main Street Lending Program to help credit flow to small and medium-sized businesses that were in sound financial condition before the pandemic. When the initial … [More]
In Business | Stimulus |
BBB Serving the Pacific Southwest Launches Grant Funding Program
BBB Serving the Pacific Southwest
Life has taken a drastic turn in the wake of the current crisis, forcing small businesses to shift nearly every aspect of their daily functions. Behind each small business is a family, giving it their all, but still caught amidst compounding negative impact. Start-ups, hometown offerings, and Main Street shops comprise a significant economic footprint, so now is the time to … [More]
In Business | Stimulus |
Turf Paradise Owner Donates $1 Million to Support Medical Professionals, Arizonans in Need
State of Arizona Office of the Governor
Turf Paradise Race Course owner Jerry Simms has personally donated $1 million to the AZ Coronavirus Relief Fund, established to provide financial support to organizations providing essential aid to those affected by COVID-19. Turf Paradise also recently donated $25,000 worth of food to St. Mary’s Food Bank. “Businesses throughout the state have done tremendous work to help … [More]
In Business | Stimulus |
Major Gaps on PPP Rules Still Unresolved as 2nd Round of Funding Goes Out
Main Street Alliance
As the second round of Paycheck Protection Program Funding starts up today, Main Street Alliance Executive Director Amanda Ballantyne had this to say: "It is reckless for the Small Business Administration and Treasury Department to release a second round of funding before clarifying the major gaps and issues with the Paycheck Protection Program. The program still lacks clear … [More]
In Business | Stimulus |
Self-Employed Will See Growth Grant Opportunities with the Help of Dell Corp.
National Association for the Self-Employed
As the coronavirus continues to impact the small business community, the National Association for the Self-Employed (NASE), the nation’s leading advocate and resource for the self-employed and micro-business community, today announced that Dell (NYSE: DELL), an American multinational technology company headquartered in Round Rock, Texas, will sponsor the association’s Growth … [More]
In Business | Stimulus |
Update on SBA Economic Injury Disaster Loan (EIDL) and EIDL Advance
Rick McCartney
Additional funding was also appropriated for the SBA EDIL and EIDL Advance programs. With this additional funding, SBA will resume processing EIDL Loan and Advance applications already in the queue for processing, on a first come, first-served basis. Further information on the availability of SBA to accept new EIDL applications will be provided as soon as possible. For the … [More]
In Business | Stimulus |
Paycheck Protection Program Resumes Today
U.S. Small Business Administration
In a joint statement, SBA Administrator Jovita Carranza and U.S. Treasury Secretary Steven Mnuchin announced the Small Business Administration resumes accepting PPP loan applications today, Monday, April 27 at 10:30AM EDT from approved lenders on behalf of any eligible borrower. PPP Resources PPP Lender List - Arizona: Includes participating banks, credit unions, … [More]
In Business | Stimulus |
New PPP Lenders added for Arizona Businesses
by Mike Hunter
As businesses prepare their applications for the next round of Payroll Protection Program funding, the Arizona District Office of the SBA would like to share feedback it received today from business owners, which is that the majority of the local lenders on the SBA list are only accepting PPP applications only from existing clients. The Arizona SBA maintains its updated … [More]
