on Sunday and he said the company had "several hundred thousand" businesses to put into the next round of funding.stated on its website
that it will continue to process existing Economic Injury Disaster Loan applications on a first-come-first-serve basis, but that it's unable to accept new applications. The SBA's disaster loans aren't new, but the CARES Act greatly expanded who is eligible and total funding available. The first round allocated $17 billion and the second round allocated another $60 billion.
When the CARES Act was initially signed, any EIDL applicant was eligible to receive a $10,000 cash advance, even if they weren't ultimately approved for the loan. But once the program rolled out, the SBA limited the advance to $1,000 per employee not to exceed $10,000 per company. Several Democratic legislators including House Speaker Nancy Pelosi and Senate minority leader Chuck Schumer have urged the SBA and Treasury to reverse this limitation with the new funding and give every business the full $10,000.
Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:
Colombia Últimas Noticias, Colombia Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
PRESENTING: How big banks decided the futures of US small businesses - Business InsiderPRESENTING: How big banks decided the futures of America's small businesses: The inside story of how $349 billion in government cash was doled out in just 12 days, leaving thousands of entrepreneurs without relief
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »
Large companies returning their small business loans amid backlash - Business InsiderPublicly traded companies are now required to return loans under the Paycheck Protection Program. Private ones like Sweetgreen are returning them too. Damn right
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »
Public companies took far more small business loans than first thought — here's the latest tallyData from FactSquared, a Washington D.C.-based data analytics firm, shows the full extent that public companies successfully navigated emergency funding. Damn, well the trough was open, and nobody was put in the filter gates so of course the biggest crowded out the smaller businesses. Wow... who woulda thought. Only a medical stable genius uses sarcasm while saving his people after 50,000 deaths from a pandemic.
Fuente: CNBC - 🏆 12. / 72 Leer más »
Lord & Taylor quietly deleted social accounts amid bankruptcy rumors - Business InsiderA Lord & Taylor spokesperson told Business Insider 'the company is working through various options at this time and is declining to comment.' Damn, one of my favourite follows 🥴
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »
These stocks have the most exposure to small businesses and should be avoided, Goldman says'We recommend investors avoid firms with high small business exposure. Margin and default risks will be highest for small businesses,' a strategist said. Pro This is disgusting. Billionaire bankers just outright saying to avoid small business exposure while the printing press supports their portfolios.
Fuente: CNBC - 🏆 12. / 72 Leer más »
SUCCESS INSIDER: Here's how to start a side hustle without spending a dollar - Business InsiderOur regular newsletter for getting things done. Like how to use your stimulus check to start a side gig.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »