How one food producer kept business going amid the pandemic

Jun 16, 2020
Grand Prairie Foods lost 80% of its hospitality and travel-related business in one day. To survive, it's focusing on packaged foods.
When the Smithfield Foods pork processing plant in Sioux Falls, South Dakota, became one of the hot spots of the COVID-19 outbreak, Kurt Loudenback, the CEO of Grand Prairie Foods, asked many of his workers to stay home.
Kerem Yucel/AFP via Getty Images

Who got those PPP loans? The government doesn't want to tell.

Jun 15, 2020
The Trump administration says the relevant part is that the COVID-19 relief loans complied with the law — not who actually got them.
Treasury Secretary Steven Mnuchin speaks at a Senate Small Business and Entrepreneurship Committee hearing.
Al Drago Pool/Getty Images

Banks are getting a boost from PPP loans

Jun 12, 2020
The program's helping them attract new customers and bring in revenue during the downturn.
A bank branch in Los Angeles. Banks processing PPP loans are seeing new business from those customers and generating fees from the government.
Valerie Macon/AFP via Getty Images

This Black-owned restaurant couldn't get PPP funding at first. Here's how it's doing now.

Jun 8, 2020
Terence Dickson isn't opening for outdoor dining at Terra Cafe just yet, even if it might cost him some business.
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

Congress passes legislation to extend PPP loan deadlines

Jun 4, 2020
One change: Businesses will have more time to spend their loans and still qualify for forgiveness.
The legislation defers payroll taxes for businesses getting the loans, and it gives them more time to repay any part of a loan that isn’t forgiven.
David McNew/Getty Images

As Congress weighs easing PPP rules, small businesses like what they hear

May 27, 2020
Among the proposed changes: more time to spend and pay back the funds, fewer restrictions on how to use it
A shuttered New York City business district in mid-May. Some of the rules that make the PPP confusing for businesses may change.
Spencer Platt/Getty Images

Eight weeks in, businesses face hard choices over PPP loans

May 22, 2020
The federal relief loans can be forgiven if businesses spend 75% on payroll within eight weeks. For some businesses, that's a problem.
A bar in New York sells cocktails to go in March. Small businesses are still struggling eight weeks after the CARES Act became law.
Victor J. Blue/Getty Images

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Citi plans to buy PPP loans from minority-owned lenders

May 21, 2020
The arrangement would allow minority-owned lenders to take PPP loans off of their balance sheets.
Citi says it will purchase $50 million in loans from minority-owned lenders.
Bruce Bennett/Getty Images

SBA says PPP loans are getting smaller in the second round of lending

May 20, 2020
Business advocates say that's a sign smaller businesses are finally getting the loans they applied for.
The SBA's changes for the latest round of lending appear to be helping smaller businesses.
Olivier Douliery/AFP via Getty Images

Treasury offers new guidance on PPP loan forgiveness

May 19, 2020
The new application form for the forgiveness program offers some clarification on significant points.
The new guidelines mean businesses can bring back fewer employees and still meet the Treasury’s forgiveness requirements.
Joe Raedle/Getty Images

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