What happens if some relief funds are not spent?

Feb 5, 2021
Leftover PPP money is in an account. But other expenses, like unemployment, are paid only as needed.
The prospect of unspent PPP loans came up in Senate negotiations over COVID-19 relief spending.
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New PPP changes aim to serve businesses owned by marginalized communities

Jan 12, 2021
A Black-owned bank CEO in South Carolina says the new PPP applicants he's seen are businesses owned by women and people of color.
Applications have to go through community banking organizations — no big banks, for now, at least.
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New Paycheck Protection Program will have more restrictions than the first

Jan 6, 2021
This new round of PPP will only be available to companies with fewer than 300 employees.
A boy gets his hair cut at a barbershop in Austin, Texas, on May 8.
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Businesses face new restrictions with no aid in sight

Nov 24, 2020
During the first round of lockdowns earlier this year, small businesses could fall back on federal relief. Not this time.
A bartender awaits patrons at a Florida restaurant. Anxiety is rising for many small business owners.
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Paycheck Protection Program loan recipients face a new challenge: Taxes

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

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

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

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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One reason why Black-owned businesses have fared worse in the pandemic: weaker banking relationships

Aug 4, 2020
That leaves them restricted access to capital, according to a study by the New York Fed.
A beauty product booth at a Black-owned business expo in Florida. The number of Black business owners in the U.S. fell more than 40% between February and April, according to a New York Fed study.
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Republicans have rolled out a COVID-19 relief bill. Here's what it includes.

One major difference from the Democrats' bill is a sharp decrease in the amount of money for pandemic unemployment assistance.
Despite having a bill, Senate Republicans themselves remain divided on issues of spending and policy.
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Expanded unemployment benefits help small businesses, too

Jul 27, 2020
They have been a lifeline for laid-off workers. They also boost demand and enable businesses to focus on staying afloat.
A hostess at a Miami restaurant waits for customers behind a partition. The expanded unemployment benefits helped small businesses make decisions early in the pandemic.
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