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Stories Tagged as

PPP loans

COVID-19

Feds' guidance hurt minority-owned businesses' PPP chances, report says

by Justin Ho
Oct 19, 2020
Washington advised banks to favor existing customers, leaving out many Black- and women-owned businesses, according to a House subcommittee.
Larger companies initially took advantage of the Paycheck Protection Program, which was intended to offer forgivable loans to smaller businesses.
Kameleon007 via Getty Images
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COVID-19

As offices stay dark, what's happening to lunch spots?

by Marielle Segarra
Aug 31, 2020
“New York is being emptied out. And you can feel it at the store level.”
A worker walks past an outdoor dining area in New York on Aug. 10.
Spencer Platt/Getty Images
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COVID-19

If more PPP money is coming, how can the Senate make sure minority-owned businesses benefit?

by Sabri Ben-Achour , Nancy Marshall-Genzer and Alex Schroeder
Jul 24, 2020
Clarity around how to apply for a PPP loan and the terms of repayment would be useful for all companies trying to get a loan.
Fabiana Estrada of Accion says a lot of the minority business owners she's worked with are confused about how the PPP loans work.
Kanawa_Studio via Getty Images
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COVID & Unemployment

PPP boosted employment through early June, study finds

by Justin Ho
Jul 23, 2020
As many as 3.2 million jobs were added by the federal Paycheck Protection Program, but the long-term effect is unknown.
With the coronavirus closing many businesses, the Paycheck Protection Program saved millions of jobs that would have been lost, according to MIT research.
Justin Sullivan/Getty Images
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COVID-19

A busy year for tax accountants, even with a July 15 filing deadline

by Justin Ho
Jul 15, 2020
They've been processing PPP loans, and also simply helping clients navigate a tough financial climate.
The tax season is far from over, too. Some are applying for the Oct. 15 extension.
Tim Boyle/Getty Images
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My Economy

Subscription gelato may be one answer to a cool business climate

by Alli Fam
Jul 8, 2020
When impulse buys dropped, Gelateria Uli's owner had to find a new business model to keep the Los Angeles ice creamery afloat.
Courtesy of Uli Nasibova
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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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