Less than two months after the Small Business Administration (SBA) opened its PPP Loan Forgiveness Portal, it announced over one million small businesses have applied. The portal was designed to simplify the process of applying for the loan forgiveness if a business received less than $150,000. And so far it has delivered on this directive. To date, over $17 billion of relief money has been forgiven with just the portal.
However, the A Million Small Businesses Have Applied for PPP Loan Forgiveness with SBA Portal article, SBA and its Administrator, Isabella Casillas Guzman, wants the millions of small businesses that have yet to apply to do so. This will not only alleviate the financial burden of paying the loan for small business operators, but it will also help the economy grow. With small businesses making up 99.9% of all U.S. businesses, the 31.7 million owners are a huge part of the U.S. economy.
Small Business News – September 27, 2021
Read on for more articles addressing small business issues in this week’s roundup.
SBA Announces $5.4 Million in Prizes in Support of Inclusive Entrepreneurship
The Small Business Administration (SBA) has announced a combined total of $5.4 million in awards for its Growth Accelerator fund competition and new Small Business Innovation Research (SBIR) Catalyst component.
New Keap Ecommerce App Covers Shopify and PayPal Integrations
Running an online business means corralling in costly software tools and platforms. But now you can get everything from payment processors to checkout forms from one app thanks to Keap. The sales and marketing automation software company recently announced an expansion to its Pro and Max products.
Small Business Group to Sue Biden Administration Over Vaccine Mandate
President Biden’s vaccine mandates are placing yet another regulation on small businesses that are trying to overcome this pandemic. To challenge this decree, the small business advocacy group, Job Creators Network (JCN), just announced a plan to sue the Biden Administration over vaccine mandates on small businesses.
Most Invoices Paid Within 2 Days, Especially if Sent by SMS
Anyone who has ran their own business will have undoubtedly experienced the frustration of chasing invoices. However, contradicting the assumption that invoices generally tend to create exasperation for businesses, is research that suggests most invoices get paid within two days.
Pennsylvania Business Owner Being Forced to Pay Back PPP Loan Because Bank Overextended
A report by WPIX-TV has revealed a small Pennsylvania business is being forced to pay back part of the PPP loan it received from PNC Bank after it was forgiven. According to WPIX-TV, Clean Day Housekeeping’s PPP loan was forgiven by the bank. However, the owners were told PNC Bank overextended itself, resulting in the action the bank is taking to recoup the money.
ADP Updates RUN Software with Focus on Small Business
ADP, a technology company that provides Human Capital Management (HCM) solutions, has made a significant update in its RUN payroll platform. Focused on small businesses, the reimaged payroll platform is designed to help small business owners manage their business more seamlessly and accelerate growth.
Product Return Scams Cost Retailers $43 Billion in 2020
Scams involving the return of products costs retailers $43 billion in 2020. As the pandemic forced people to shop online, the nature of commerce changed significantly in 2020, and with it came rising fraud.
Using an Amazon Registry So Friends and Family Can Support Your Startup Business
Many of us have already given someone a present using a gift registry set up through Amazon. We’ve gifted using registries set up for weddings, birthdays, new baby and special occasions.
LLC vs. Partnership: Which is the Better Choice?
Deciding on a business structure for your business affects more than just how you’ll file taxes. Ramifications range from legal, administrative, and financial to your company’s name. Businesses with more than one owner typically structure their companies as limited liability companies (LLCs) or partnerships. LLC vs.
Outside-the-Box Benefits for Employees
Today’s tight job market makes it imperative for small businesses to offer an array of benefits to employees. Many benefits are commonly offered…health care, retirement plans, and dependent care assistance. But employers may need to go beyond the basics and consider other benefits. Doing so won’t necessarily be expensive.
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This article, “In the News: PPP Loan Forgiveness Portal Has Over 1 Million Applicants” was first published on Small Business Trends
