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    10'000 Hours | DigitalVision | Getty Images There is just over a week left of priority access to the Paycheck Protection Program's forgivable loans for the owners of the nation's smallest businesses. Last Wednesday, the Small Business Administration started only accepting PPP loan applications from firms with fewer than 20 employees. This priority period is set to last two weeks before the program opens back up to the rest of the small-business community. "Whenever there is a deadline, people feel this pressure," said Melissa Bradley, co-founder of mentorship tech platform Ureeka, which is now helping small businesses wade through the PPP application process. "Don't do it blindly," she added. "Be an opportunist but not opportunistic." More from Invest in You:Self-employed, gig workers are still waiting for new PPP rules$1,400 stimulus checks" Here's how soon the money could arriveBlack-owned businesses hope this round of PPP won't fail them While Bradley appreciates...
    Sinelia Louis will finally be eligible to apply for a PPP loan due to changes by the Biden administration that allow access for non-citizen small business owners.Sinelia Louis When Sinelia Louis, 50, heard about the recent changes to the Small Business Administration's Paycheck Protection Program, she felt like her prayers had been answered. "I was cleaning, and I said, 'Thank God,'" said Louis. "That gives me some hope to keep going, some hope that my business will not die right here, right now." Louis runs Caregivers Company LLC, a home-care service that works with seniors, in St. Louis. She's a sole proprietor who's been trying to expand her business in the hopes of being able to hire employees. More from Invest in You:Smallest businesses getting extra PPP help. What to know before applyingBlack small-business owners are being left behind in pandemic, survey findsBlack leaders offer several key steps to help close...
    CHICAGO (WLS) -- President Joe Biden announced changes Monday to the Paycheck Protection Program to target more federal pandemic assistance to the nation's smallest businesses and ventures owned by women and people of color.An estimated 400,000 American small businesses closed in the last year, and the loss is felt even more deeply in Black and brown communities."A lot of businesses that were teetering already, this pushed them over the edge," said Malcolm Crawford, executive director of the Austin African American Business Networking Association.He's encouraged to hear of some help from the federal government."Now there is an opportunity to stay in business and to be able to grow your business," he said.SEE ALSO | Biden boosts Paycheck Protection Program lending to smallest businessesPresident Biden announced changes to the Payroll Protection Program that focus on business owners shut out of previous federal assistance. The changes will allow businesses with fewer than 20...
    andresr The smallest businesses that have had the most trouble accessing forgivable loans from the Paycheck Protection Program will soon get extra help. The Biden administration on Monday announced changes for the pandemic aid program focused on helping small and minority owned firms as well as sole proprietors. For two weeks, starting Wednesday, the Small Business Administration will only accept applications for PPP loans from firms with fewer than 20 employees. The administration is also making several changes to the program, including increasing loan amounts for sole proprietors and individual contractors, eliminating restrictions around delinquent student loan debt and non-fraud felony convictions as well as allowing some non-citizen business owners to apply.VIDEO2:5802:58Biden administration changes who qualifies for Paycheck Protection Program loansSquawk BoxGoal is to expand accessThe changes will help even the playing field for firms that make up most of the small business community – 98% of small businesses employ...
    President BidenJoe BidenBiden to hold moment of silence for 500K COVID-19 deaths Publix offers employees who get COVID-19 vaccine a 5 store gift card Schumer says he's working to find votes to confirm Biden's OMB pick MORE on Monday announced policy changes to the Paycheck Protection Program (PPP) meant to target coronavirus relief to the smallest businesses and minority-owned firms. Among the changes, the Small Business Administration is instituting a 14-week period beginning Wednesday and running through March 9 allowing only companies with fewer than 20 employees to apply for assistance through the PPP. “Small businesses are the engines of our economic progress, they’re the glue and the heart and soul of our communities. But they’re getting crushed,” Biden said in remarks at the White House, noting that roughly 400,000 small businesses have closed amid restrictions put in place to lessen the spread of the coronavirus. “It’s hurting Black, Latino,...
    WASHINGTON -- President Joe Biden announced changes Monday to target more federal pandemic assistance to the nation's smallest businesses and ventures owned by women and people of color.Biden says a lot of these mom and pop businesses "got muscled out of the way" by larger businesses seeking federal money in the early days of the pandemic. He said changes taking effect Wednesday will provide long overdue aid to these smaller enterprises that he says are being "crushed" by the pandemic-driven economic downturn."America's small businesses are hurting, hurting badly and they need help now," Biden said.Under the pandemic-era Paycheck Protection Program, the administration is establishing a two-week window, starting Wednesday, in which only businesses with fewer than 20 employees - the overwhelming majority of small businesses - can apply for the forgivable loans.EMBED More News Videos Biden is targeting federal pandemic assistance to the nation's smallest businesses and taking steps to...
    WASHINGTON -- President Joe Biden is targeting federal pandemic assistance to the nation's smallest businesses and taking steps to further equity in what is known as the Paycheck Protection Program.The administration is establishing a two-week window, starting on Wednesday, in which only businesses with fewer than 20 employees - the overwhelming majority of small businesses - can apply for the forgivable loans. Biden's team is also carving out $1 billion to direct toward sole proprietors, such as home contractors and beauticians, the majority of which are owned by women and people of color.Other efforts will remove a prohibition on lending to a company with at least 20% ownership by a person arrested or convicted for a nonfraud felony in the prior year, as well as allowing those behind on their federal student loans to seek relief through the program. The administration is also clarifying that noncitizen legal residents can apply...
    WASHINGTON (AP) — President Joe Biden is targeting federal pandemic assistance to the nation’s smallest businesses and taking steps to further equity in what is known as the Paycheck Protection Program. The administration is establishing a two-week window, starting on Wednesday, in which only businesses with fewer than 20 employees — the overwhelming majority of small businesses — can apply for the forgivable loans. Biden’s team is also carving out $1 billion to direct toward sole proprietors, such as home contractors and beauticians, the majority of which are owned by women and people of color. Other efforts will remove a prohibition on lending to a company with at least 20% ownership by a person arrested or convicted for a nonfraud felony in the prior year, as well as allowing those behind on their federal student loans to seek relief through the program. The administration is also clarifying that noncitizen legal...
    WILMINGTON, Delaware -- President Joe Biden is targeting federal pandemic assistance to the nation's smallest businesses and taking steps to further equity in what is known as the Paycheck Protection Program.The administration is establishing a two-week window, starting on Wednesday, in which only businesses with fewer than 20 employees - the overwhelming majority of small businesses - can apply for the forgivable loans. Biden's team is also carving out $1 billion to direct toward sole proprietors, such as home contractors and beauticians, the majority of which are owned by women and people of color.Other efforts will remove a prohibition on lending to a company with at least 20% ownership by a person arrested or convicted for a nonfraud felony in the prior year, as well as allowing those behind on their federal student loans to seek relief through the program. The administration is also clarifying that noncitizen legal residents can...
    President Joe Biden is targeting federal pandemic assistance to the nation's smallest businesses and taking steps to further equity in the Paycheck Protection Program, a pandemic-relief program created last year. Many of these businesses are owned by women and people of color, who experienced delays in receiving the loans in the program's initial rollout.  The administration is establishing a two-week window, starting on Wednesday, in which only businesses with fewer than 20 employees — the overwhelming majority of small businesses — can apply for the forgivable loans. Biden's team is also carving out $1 billion to direct toward sole proprietors, such as home contractors and beauticians, the majority of which are owned by women and people of color. Other efforts will remove a prohibition on lending to a company with at least 20% ownership by a person arrested or convicted for a nonfraud felony in the prior year, as well...
    WILMINGTON, Delaware -- President Joe Biden is targeting federal pandemic assistance to the nation's smallest businesses and taking steps to further equity in what is known as the Paycheck Protection Program.The administration is establishing a two-week window, starting on Wednesday, in which only businesses with fewer than 20 employees - the overwhelming majority of small businesses - can apply for the forgivable loans. Biden's team is also carving out $1 billion to direct toward sole proprietors, such as home contractors and beauticians, the majority of which are owned by women and people of color.Other efforts will remove a prohibition on lending to a company with at least 20% ownership by a person arrested or convicted for a nonfraud felony in the prior year, as well as allowing those behind on their federal student loans to seek relief through the program. The administration is also clarifying that noncitizen legal residents can...
    By ZEKE MILLER, Associated Press WASHINGTON (AP) — President Joe Biden is targeting federal pandemic assistance to the nation's smallest businesses and taking steps to further equity in what is known as the Paycheck Protection Program. The administration is establishing a two-week window, starting on Wednesday, in which only businesses with fewer than 20 employees — the overwhelming majority of small businesses — can apply for the forgivable loans. Biden's team is also carving out $1 billion to direct toward sole proprietors, such as home contractors and beauticians, the majority of which are owned by women and people of color. Other efforts will remove a prohibition on lending to a company with at least 20% ownership by a person arrested or convicted for a nonfraud felony in the prior year, as well as allowing those behind on their federal student loans to seek relief through the program. The administration is...
    (CNN)The Biden administration announced several changes Monday to the Paycheck Protection Program in an effort to reach minority-owned and very small businesses that may have previously missed out on accessing loans to help weather the coronavirus pandemic. Starting Wednesday, small businesses with fewer than 20 employees will have a two-week exclusive window to apply for the funding. Bigger businesses will be blocked during that time period. Democrats turn to Bidens agenda after impeachment trialThe administration will also change some eligibility rules, effective the first week in March. The self-employed, sole proprietors and independent contractors can now qualify for more money. They previously were excluded altogether or received as little as $1 because the loan amounts were calculated based on the number of employees. The loan program will also open up to small business owners with non-fraud related felonies, those delinquent on their federal student loans and some non-citizen residents, such...
    ^ Keep Westword Free Support Us I Support Local Community Journalism Support the independent voice of Denver and help keep the future of Westword free. Support Us The pandemic hit Denver’s arts and culture scene hard, forcing many businesses, performance spaces, museums and galleries to close, at least temporarily, at the end of March. In the months since, artists and curators have rallied to keep culture alive, to comment on social injustice, and to inspire us all to appreciate essential workers and health-care providers. Along the way, the scene has shown its grit and ability to stay relevant through the toughest of times, though some longstanding cultural institutions have been wrangling with their own inner demons. Here are the ten biggest arts and culture stories in Denver in 2020:  Related Stories The Ten Biggest Colorado Political Stories of 2020 Unsung Heroes: Denver Artists...
    Reuters October 9, 2020 0 Comments The U.S. government will greatly simplify the process by which borrowers of a $525-billion-pandemic-relief fund do not have to repay some of the smallest loans, the Department of Treasury said. In a statement issued late on Thursday, the Department of Treasury said businesses that borrowed $50,000 or less from the Paycheck Protection Program (PPP) can sign a one-page document attesting that the money was spent as required by the program and the loans will be forgiven, meaning taxpayers’ dollars will be used to pay for them. Introduced in April to help companies weather the economic shutdown brought on by COVID-19, the PPP was responsible for 5.21 million loans ranging from less than $50,000 each to more than $5 million. The rules stipulated that businesses with limited financing options could seek a loan that would later be fully forgiven if at least 60 percent...
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