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]

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]

New Polls: Minorities Struggle to Secure PPP Loans, the largest online referral network for small businesses, has just compiled the results of several recent polls on the Paycheck Protection Program that show it has fallen short for many small-business owners. Some of the hardest hit include companies owned by minorities and minority women, as well as small-business people just starting as … [More]

Nearly $600 Million in Local Coronavirus Relief Funds to be Disbursed

State of Arizona Office of the Governor

Nearly $600 million in coronavirus relief and recovery dollars for local Arizona governments and nonprofits as part of a funding plan was announced today by Governor Doug Ducey. The plan includes $441 million in direct, flexible funding to local cities, towns and counties that did not receive direct funding earlier this year from the federal government. In addition, local … [More]