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Stories Tagged as

Paycheck Protection Program

COVID-19

What small business owners might expect from Biden

by Justin Ho
Dec 7, 2020
Biden has pledged to provide additional resources for small businesses. Business owners say the type of aid matters.
Biden has called for flexible grants to businesses that have lost substantial revenue. He also wants to refocus the Paycheck Protection Program on businesses with fewer than 50 employees, instead of the current 500.
Alex Wong/Getty Images
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COVID-19

Community banker says small businesses need more help

by Kai Ryssdal and Rose Conlon
Dec 4, 2020
Months after the Paycheck Protection Program rollout, many loan recipients are struggling.
Spencer Platt/Getty Images
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Baltimore restaurant owner launches incubator for Black micro businesses

by Amy Scott and Rose Conlon
Nov 26, 2020
Terence Dickson wants to make sure Black business owners don't keep missing out on small-business relief.
Terence Dickson stands in front of "Big Blue," a delivery truck he's converted into an outdoor bar at his restaurant in Baltimore.
Amy Scott/Marketplace
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COVID-19

Paycheck Protection Program loan recipients face a new challenge: Taxes

by Justin Ho
Nov 17, 2020
As the year draws to a close, small business owners are starting to figure out their tax liabilities for 2020. That's complicated for businesses that got Paycheck Protection Program loans.
Empty chairs are seen inside a restaurant in New York on Nov. 13, 2020. Businesses whose PPP loans are forgiven are not allowed to claim deductions on expenses that were paid for using loan money.
Kena Betancur/AFP via Getty Images
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COVID-19

Paycheck Protection Program loans have been a lifeline — for some businesses

by Justin Ho
Nov 11, 2020
Two PPP recipients discuss their relief loans and the challenges of staying open through the pandemic.
PPP loans helped keep some businesses afloat, but restaurants and bars are still struggling — especially as COVID-19 cases rise.
Spencer Platt/Getty Images
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COVID-19

The Fed wants to lend money to more small businesses, but many aren't interested

by Justin Ho
Nov 2, 2020
The central bank dropped the minimum loan amount under its Main Street Lending Program to $100,000. But not many businesses feel confident taking out loans they'll have to repay in five years.
A bartender prepares to open his bar in Ocean City, Maryland, amid the pandemic, May 29, 2020.
Alex Edelman/AFP via Getty Images
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COVID-19

Small businesses await clarity before applying for PPP loan forgiveness

by Justin Ho
Oct 5, 2020
The uncertainty over whether there'll be another round of loans — and whether small loans will be forgiven automatically — is holding them back.
Chairs are stacked on tables at a closed restaurant in New York City. Many small businesses are waiting until they hear from Congress to apply for PPP loan forgiveness.
Stephanie Keith/Getty Images
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COVID-19

As Feds go after PPP fraud, businesses apply for loan forgiveness

by Justin Ho
Sep 23, 2020
Getting that debt pardoned is a rigorous process right now. Some want to simply excuse loans under $150,000.
A small boutique selling masks and gloves in Arlington, Virginia in April.
Olivier Douliery/AFP via Getty Images
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COVID-19

Lifeguards, veterinary assistants and architects: a look at some of the jobs protected by PPP loans

by Kai Ryssdal and Maria Hollenhorst
Jul 13, 2020
About 75% of small businesses sought Paycheck Protection Program loans and about 72% of them got PPP loans, according to the Census Bureau.
Seattle Veterinary Associates is among the millions of businesses that have received loans through the federal Paycheck Protection Program.
Courtesy of Seattle Veterinary Associates
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COVID-19

How some of the 5.5 million businesses that got PPP loans spent the money

by Marielle Segarra
Jul 7, 2020
Most of it went to hiring back furloughed employees — or hiring new ones.
A bartender mixes a drink at a Maryland restaurant. PPP loans allowed some bars and restaurants to stay afloat during the coronavirus pandemic.
Alex Edelman/AFP via Getty Images
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