Four weeks before its scheduled end, the federal government’s signature aid effort for small business ravaged by the pandemic — the Paycheck Protection Program — ran out of funding on Tuesday afternoon and stopped accepting most new applications.
Congress allocated $292 billion to fund the program’s most recent round of loans. Nearly all of that money has now been exhausted, the Small Business Administration, which runs the program, told lenders and their trade groups on Tuesday. (An earlier version of this item misstated that the actions it described occurred Wednesday.)
While many had predicted that the program would run out
The era of college athletes profiting off of their name, image and likeness is rapidly approaching, and several schools are developing strategies to assist their student-athletes in this new era of college athletics. Now the biggest brand in college football just joined the fray.
Alabama announced Tuesday that it has created a program called The Advantage, which will assist and educate Crimson Tide student-athletes with the tools necessary to build and elevate their personal brands. The program, which will combine on-campus resources with external organizations, will focus on the management of each individual brand, maximizing personal social media platforms and
Rivian’s plans to sell insurance for its electric vehicles are now taking shape, with new details released about data-driven coverage and a partnership with established underwriter Nationwide.
Rivian already is at the forefront of electrification and autonomous driving. Now it appears to be on the leading edge of another trend—carmakers that sell insurance, too. And that carries special meaning in Bloomington-Normal, where State Farm is based and where Rivian will make its EVs.
Small businesses and nonprofit groups hardest hit by the coronavirus pandemic now are eligible for additional support under a $5 billion Small Business Administration program
The new round of Economic Injury Disaster Loan assistance, known as Supplemental Targeted Advances, is available for up to 1 million small businesses and nonprofits with no more than 10 employees.
Here’s who can get the money:
Aside from having no more than 10 employees, they must be located in low-income areas and had an economic loss of greater than 50% over an eight-week period since March 2, 2020, compared to the previous year. They
The Small Business Administration debuted a new program to help small businesses weather the COVID-19 pandemic and prepared to retry a launch of its Shuttered Venue Operators Grant program.
The SBA opened a new round of Economic Injury Disaster Loan assistance, known as “Supplemental Targeted Advances,” on Thursday to provide $5 billion in extra help to a million small businesses and nonprofits that have been the most severely affected by the economic impact of the pandemic. The Supplemental Targeted Advance program is a new SBA relief program that offers an extra $5,000 that doesn’t need to be repaid by hard-hit
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