Tuesday, November 30, 2021

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Joyce M. Rosenberg

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SBA: Paycheck Protection Program runs out of money

NEW YORK (AP) – The government’s key COVID-19 relief program for small businesses has run out of money. The Small Business Administration said Wednesday that...

Businesses scramble for help as job openings go unfilled

NEW YORK (AP) – It looks like something to celebrate: small businesses posting “Help Wanted” signs as the economy edges toward normalcy. Instead, businesses...
BACK ON THE JOB: Laurina Esposito, co-owner of Espo Restoration, inspects a car frame at her Los Angeles shop. Esposito and her business partner were diagnosed with coronavirus in early September. / AP PHOTO/
MARCIO JOSE SANCHEZ

For business owners, getting COVID-19 is a wakeup call

NEW YORK – When Chris Hyland caught the coronavirus, his ordeal went beyond being sick and exhausted – he couldn’t help his business partners...
SAVINGS EATEN AWAY: Chicago Alderman Tom Tunney, inside the main Ann Sather restaurant in Chicago, estimates he’s put $250,000 of his own money into running his three restaurants. / AP PHOTO/CHARLES REX ARBOGAST

Owners tap into savings to withstand pandemic

NEW YORK – When the coronavirus outbreak forced cruise lines to cancel trips to Alaska, it wiped out Midgi Moore’s tour business, leaving her...
HOT SEAT: Jovita Carranza, administrator of the U.S. Small Business Administration, speaks before a House Small Business Committee hearing on oversight of the U.S. Small Business Administration and Department of Treasury pandemic programs on Capitol Hill in Washington on July 17. / POOL VIA AP FILE/KEVIN DIETSCH

Big companies went to head of line for PPP loans

Ever since the U.S. government launched its emergency lending program for small businesses on April 3, there have been complaints that bigger companies had...
DOUBLE CHECKING: Barber Mike McAndrew holds a mirror as customer Rob Verrastro looks at his new haircut at Three Saints Barbershop and Shave Parlor in Jessup, Pa. Small businesses such as this are desperately trying to stay afloat during the coronavirus crisis, but billions of dollars allocated for aid by Congress may be left on the table. / TIMES-TRIBUNE VIA AP FILE/CHRISTOPHER DOLAN

Billions of dollars in small-business aid unclaimed

BIllions of dollars offered by Congress as a lifeline to small businesses struggling to survive the pandemic are about to be left on the...
THE COMMERCIAL REAL ESTATE market has been heavily impacted by the COVID-19 pandemic. / AP FILE PHOTO/MARK LENNIHAN

Virus pummels commercial real estate, could end long boom

NEW YORK (AP) – Americans are likely to see more “for rent” signs in the coming months as many businesses devastated by the coronavirus...
NEW GUIDANCE from the SBA for the Paycheck Protection Program said that PPP loans loans can still be forgiven in full only if the money is spent within eight weeks of receiving it.

SBA leaves businesses still hoping for more leeway on loans

NEW YORK (AP) – Small businesses hoping for more leeway in using coronavirus loan money were disappointed as the government released instructions for seeking...
THE SBA said that for eight hours Wednesday ending at midnight Eastern time it would accept PPP loans only from small lenders. It also indicated that it was moving the smallest companies applying for loans to the head of the line. / AP FILE PHOTO/ERIC GAY

SBA: Small businesses move to head of loan application line

NEW YORK (AP) – The smallest companies seeking coronavirus relief loans were moving to the head of the line Wednesday as the Small Business...
BANKING INDUSTRY groups said Tuesday the SBA’s loan processing system is still unable to handle the volume of loan applications from business owners trying to get aid under the Paycheck Protection Program.

Bottleneck continues as businesses seek government relief loans

NEW YORK (AP) – Banks trying to submit applications for thousands of small businesses seeking coronavirus relief loans have hit a bottleneck for a...

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