Lawmakers and government officials are preparing to make significant changes to the Paycheck Protection Program, amid cooling demand for government-backed loans and criticism from business owners who say they can’t tap the funds. The changes are likely to include giving businesses more flexibility to spend the money, according to lawmakers and others following the deliberations.… Continue reading U.S. Expected to Revise Small-Business Aid Program
Tag: covid-19 relief
Next Insurance Launches Built By Business, An Initiative to Help Small Businesses Get Back to Work
As small businesses continue to wait for signs of economic hope, Next Insurance, a national business insurance provider, is announcing a new program to help put small business owners back to work. Next Insurance’s Built By Business initiative will give entrepreneurs extra time and resources to get back on their feet by hiring them to… Continue reading Next Insurance Launches Built By Business, An Initiative to Help Small Businesses Get Back to Work
RIMS Urges Congress to Create a Pandemic Risk Insurance Program
RIMS, the risk management society®, issued a letter to the U.S. Department of the Treasury, Congress and the Office of U.S. President Donald J. Trump requesting the creation of a pandemic risk insurance program to accelerate economic recovery. The full letter can be found here. According to RIMS’ letter, a pandemic risk insurance program would… Continue reading RIMS Urges Congress to Create a Pandemic Risk Insurance Program
Fed Expands Corporate-Debt Backstops, Unveils New Programs to Aid States, Cities and Small Businesses
The Federal Reserve unveiled an array of programs Thursday that it said would provide $2.3 trillion in loans, expanding the Fed’s operations to reach small and midsize businesses and U.S. cities and states. The Fed also said it would expand previously announced corporate lending programs to include some classes of riskier debt that had been… Continue reading Fed Expands Corporate-Debt Backstops, Unveils New Programs to Aid States, Cities and Small Businesses
Large Restaurant and Hotel Chains Can Participate in SBA Paycheck Protection Program
Shake Shack Inc. hardly seems like a small enterprise, with 7,600 employees, about $500 million in annual revenue and net income last year of $24 million. Even so, it plans to apply for a new government-guaranteed small-business loan. The New York-based fast-food chain says it needs the help to get through the new coronavirus pandemic.… Continue reading Large Restaurant and Hotel Chains Can Participate in SBA Paycheck Protection Program
Texas Mutual Donates $2M to Support Nonprofits Meeting COVID-19 Needs
Grants are being given to 40 nonprofits throughout the state Workers Compensation insurer Texas Mutual announced a donation of $2 million in grant funding for nonprofit organizations across the state that are vital to COVID-19 relief and recovery. The company has identified 40 nonprofit organizations where the grants will make a significant impact, including Meals… Continue reading Texas Mutual Donates $2M to Support Nonprofits Meeting COVID-19 Needs