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Reading florist receives SBA woman-owned small business award
The owner of the first Latina-owned florist shop in Reading has received the Eastern Pennsylvania Woman-Owned Small Business of the Year Award for 2024.
Neffs National Bank honored for PPP loan work
When the COVID-19 pandemic started, Neffs National Bank wasn’t an active Small Business Administration lender.
PPP’s extension gave borrowers needed time to apply, funds expected to dry up before end date
An extension to the Paycheck Protection Program (PPP) from March to May allowed more time for small firms and businesses looking to draw from the program for a second time to benefit from it. But without additional funds, the program is expected to dry up soon.
New federal stimulus package welcomed, lawmakers point out issues
State lawmakers praised the coming of the $900 billion federal stimulus package approved by the Senate and Congress this week but noted that much more must be done before the nation recovers from its public health and economic crisis.
Federal officials evaluating ‘good faith’ of high-value PPP loan borrowers with new form
Borrowers of the federal Paycheck Protection Program who took loans of $2 million or greater can expect to receive a form from lenders on which they will be required to attest their funds were necessary to sustain the operations of their business during the pandemic,
Paycheck protection loans of $50,000 or less fully forgiven regardless of employee retention
Borrowers who received loans of $50,000 or less from the Paycheck Protection Program will now be forgiven for the full loan amount regardless of any decreases to their full-time employee count or wages.
Carbon County has $5.8M in PPP grants for small business, nonprofit and others that ‘fell through the cracks’
The focus of the county grants is to help shore up funding for those who missed out on Paycheck Protection Program or Economic Injury Disaster Loan program benefits, said Kathy Henderson, director of economic development at Carbon Chamber and Economic Development Corporation in Lehighton.
Fulton Bank handles $900 million in PPP loans
Approximately 4,000 Fulton Financial Corporation customers across Pennsylvania received more than $900 million in funding through federal CARES Act Paycheck Protection Program, including hard-hit nonprofit organizations whose mission is to serve others.
SBA launches ‘less intimidating’ PPP application, re-opens EIDL
Following the enactment of legislation that loosened requirements for borrowers to be forgiven for a Paycheck Protection Program loan, federal administrators this week launched a streamlined application form they say will make it easier for some borrowers to fully realize the forgiveness of their PPP loan.
Landmark changes to PPP headed for Trump’s desk this week
The changes arrive as many employers near the end of their eight-week coverage period during which they are required use their disbursements to bring back their full-time employee counts to pre-pandemic levels to qualify for SBA forgiveness. The new bill would triple that covered period to 24 weeks.
House bill would extend PPP rehiring safe harbor, increase overhead expense flexibility
House lawmakers passed a bill late last week that would loosen restrictions on businesses using Paycheck Protection Program funds to retain and rehire workers, as federal policymakers work to revise the PPP to help companies recover in the aftermath of mandated closures.
$6.8B of PPP funds reserved for Community Development Financial Institutions
More than $6 billion of remaining Paycheck Protection Program funds will be reserved for Community Development Financial Institutions to lend to a broader demographic of small business owners, federal officials announced on Thursday.
