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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...

SBA reports $1.8B in PPP loans for R.I. businesses with funding...

PROVIDENCE – Rhode Island small businesses have secured more than $1.8 billion in federal payroll relief, the U.S. Small Business Administration shared on Wednesday. The...
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...

R.I. businesses secure $550M in round-two PPP loans; less than half...

PROVIDENCE – More than 6,800 Rhode Island small businesses secured a total of $550.4 million for payroll relief under second-round funding for the U.S....
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...
THE SBA has approved $22.6 million in low-interest loans for Rhode Island applicants as of April 19.

R.I. businesses approved for $22.6M in economic injury loans

PROVIDENCE - Rhode Island small businesses and nonprofits have been approved for 142 loans totaling $22.6 million for economic losses associated with COVID-19 as...
ON THE DAY the PPP program was depleted, the National Federation of Independent Business found that 80% of surveyed members were still awaiting funding with many uncertain of where they were in the application process./ AP FILE PHOTO/PAUL SANCYA

NFIB: On day PPP was depleted, 80% of small businesses were...

PROVIDENCE – A new survey from the National Federation of Independent Business found that as of April 17 nearly 80% of small-business owners that...
ZACHARY DAVIS poses for a photo at The Penny Ice Creamery in Santa Cruz, Calif. Davis, who had to lay off 70 workers, is frustrated that big companies and ones with questionable records received precious financial aid through the federal Paycheck Protection Program. / AP FILE PHOTO/MARTHA MENDOZA

AP: Publicly traded firms get $300M in small-business loans

Companies with thousands of employees, past penalties from government investigations and risks of financial failure even before the coronavirus walloped the economy were among those receiving...
THE SBA has approved $22.6 million in low-interest loans for Rhode Island applicants as of April 19.

SBA approves $4.7M in Economic Injury Disaster Loans for R.I. applicants

PROVIDENCE – Ninety-two Rhode Island small businesses and nonprofits have qualified for a combined $4.7 million loans through the Small Business Administration’s Economic injury...

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