The Federal Reserve Board on Friday, adjusted the terms of the Main Street Lending Program in two important ways to better target support to smaller businesses that employ millions of workers and are facing continued revenue shortfalls due to the pandemic. In particular, the minimum loan size for three Main Street facilities available to for-profit and non-profit borrowers has … [More]
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Housing Market Shows Signs of Seasonal Cooling Even as Historic Demand Continues
Zillow
The housing market is showing signs of seasonal cooling after a scorching hot summer sales season that stretched uncharacteristically far into fall, according to Zillow's Weekly Market Report1. A nearly six-month acceleration of year-over-year list price increases stabilized this week at 11.7% above 2019. Buyers are quickly buying up what few homes are left on the market, with … [More]
Nearly 75% of Small Businesses Would Apply or Consider Applying for Second Round of PPP Funding
NFIB
The NFIB Research Center released its latest survey on the impact COVID-19 has had on small businesses, the 13th survey since early March. If eligible, about 75% of small businesses reported they would apply or consider applying for a second Paycheck Protection Program (PPP) loan. About half (52%) of owners anticipate needing additional financial support over the next 12 … [More]
Governor Ducey Announces More Than $1.6 Million to Expand Food Bank Assistance
State of Arizona Office of the Governor
More than $1.6 million to expand assistance to Arizona food banks was announced today to help them reach more families and seniors in need. The funding will enable food banks around the state to make more food home-deliveries to seniors and make more fresh produce and items available. Today’s announcement followed the Governor’s visit to St. Mary’s Food Bank, where he helped … [More]
Leslie’s Pools Goes Public, Trading on the Nasdaq
Leslie's, Inc.
Leslie's, Inc., the largest and most trusted direct-to-consumer brand in the U.S. pool and spa care industry, announced the pricing of its initial public offering of 40,000,000 shares of its common stock at an initial public offering price of $17.00 per share. The offering consists of 30,000,000 shares of common stock being sold by Leslie's and 10,000,000 shares of common … [More]
U.S. Jobless Claims Remain High Despite Recent Weekly Decreases
U.S. Department of Labor
In the week ending October 24, the advance figure for seasonally adjusted initial claims was 751,000, a decrease of 40,000 from the previous week's revised level. The previous week's level was revised up by 4,000 from 787,000 to 791,000. The 4-week moving average was 787,750, a decrease of 24,500 from the previous week's revised average. The previous week's average was revised … [More]
Third-Quarter GDP Record Increase on Heals of Worst in Second Quarter
U.S. Bureau of Labor Statistics
Real gross domestic product (GDP) increased at an annual rate of 33.1 percent in the third quarter of 2020 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP decreased 31.4 percent. The GDP estimate released today is based on source data that are incomplete or subject to further revision by the … [More]
SBA Achieves Historic Small Business Lending for Fiscal Year 2020
U.S. Small Business Administration
The U.S. Small Business Administration announced Fiscal Year 2020 summary loan data of the financial assistance provided through traditional loan program lending as well as aid provided via the CARES Act. Loans guaranteed through traditional SBA lending programs exceeded $28 billion; however, enactment of the CARES Act dramatically increased loan volume guaranteed by the … [More]
$7 Million Announced for Housing and Rental Assistance
State of Arizona Office of the Governor
Governor Doug Ducey announced $7 million to expand available rental assistance and help keep people in their homes. The funding comes from the Crisis Contingency and Safety Net Fund, established in March through a bipartisan state budget agreement that added $50 million for Arizona’s COVID-19 response. “Ensuring Arizonans have safe, reliable housing during this pandemic is … [More]
Local First Arizona Launches We Rise Black Business Accelerator Program
Local First Arizona
Local First Arizona is expanding on its work of building an inclusive, diverse local economy through a new initiative, the We Rise Business Accelerator program. Tailored to Arizona’s Black-owned businesses, at all stages of development and all sectors, We Rise will equip businesses with the entrepreneurial skills and resources to thrive and become part of a larger network of … [More]
New USA-Made COVID-19 Tests Replace Invasive Nasal Swab Test
USA Rapid Test
The improper use and application of COVID-19 nasal swab PCR tests are endangering people’s health, while rapid antibody tests are giving too many false negatives and delaying the reopening of American businesses. The United States economy is still operating about 20% below where it was in early March and experts don’t anticipate any major economic traction until 2021. Getting … [More]
EN NEGOCIOS: Destacar su negocio. 5 consejos para ayudar a su pequeña empresa a diferenciarse durante COVID-19
por Edgar R. Olivo
La pandemia es una bola de demolición para la economía estadounidense y, con ella, se produjeron muchos cambios nuevos en la vida cotidiana, especialmente en la forma en que los consumidores gastan su dinero y su tiempo. Las consecuencias positivas han llevado a los consumidores a profundizar sus relaciones con sus comunidades locales mientras se enfocan en dónde gastar su … [More]
Stand Out from the Crowd. 5 Tips to Help Differentiate Your Small Business during COVID-19
by Edgar R. Olivo
The pandemic is a wrecking ball to the American economy and with it came many new changes to everyday life, particularly on how consumers spend their money and time. The positive consequences have led consumers to deepen their relationships with their local communities while focusing where to spend their money. This new reality sets the stage for small businesses to rise up and … [More]
Amazon Promotes Over 35,000 Employees Across North America, Opens 100,000 New Seasonal Jobs Heading Into the Holidays
Amazon
Amazon announced it has promoted more than 35,000 Operations employees in 2020, that 30,000 employees have taken advantage of Amazon’s Career Choice program, and that it’s creating an additional 100,000 seasonal jobs. With more than 12 million Americans out of work according to the U.S. Bureau of Labor Statistics these new seasonal roles in several locations across the US and … [More]
Coming Soon: 2021 Transaction Privilege Tax License Renewals
Arizona Department of Revenue
The Arizona Department of Revenue (ADOR) is sending renewal letters to businesses next month to renew their Arizona Transaction Privilege Tax (TPT) License. You must renew on or before January 1 every year. Penalties will apply to renewals received after Jan 31. Before renewing, ADOR encourages businesses to update and verify their account information to prevent unnecessary … [More]
Phoenix Expands COVID-19 Business Relief Grant Eligibility, Grants End Oct. 30
City of Phoenix
Small businesses with 25 or fewer employees in the city of Phoenix can now apply for grants up to $10,000 to offset lost revenue during the Covid-19 pandemic. The opportunity to apply for a grant ends Friday, October 30 at 5 p.m. With just over $1 million left to award, the Phoenix City Council approved the expanded eligibility requirements to allow more businesses to … [More]
Deepening Inventory Shortage Slows Home Sales Even Further
Zillow
The housing market's recent record of superlatives marches on according to Zillow's Weekly Market Report1, as prices soared to new heights and inventory reached record lows — down nearly 50% annually in some major metros. The lack of available homes and an overdue seasonal slowdown may finally be pulling pending sales down after a scorching hot few months. Time on market … [More]
Election Day Is Near: Are You Required to Give Employees Time Off to Vote? Likely!
by Joshua C. Black, Esq.
The 2020 presidential election could end up with the highest voter turnout seen in the U.S. in more than a century. As an American, it is not only your right to vote, it is an important civic duty. But, as an employer, are you required to give employees time off to vote? Currently, there are 30 states in the U.S. that require business owners to give workers either paid or … [More]
