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Small business administration

Businesses aren't flocking to this round of PPP loans

by Justin Ho
Feb 2, 2021
Three-quarters of the money Washington set aside hasn't been touched. Some point to new restrictions on which businesses qualify.
Despite the need for relief, businesses are finding it difficult to meet the eligibility requirements.
Stephanie Keith/Getty Images
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COVID-19

New PPP changes aim to serve businesses owned by marginalized communities

by Justin Ho
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.
hapabapa via Getty Images
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Next round of PPP loans starts Monday

by Sabri Ben-Achour and Nancy Marshall-Genzer
Jan 11, 2021
Loan money can be used to cover more expenses this time around — not just payroll, but also to buy supplies.
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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Biden picks Rhode Island governor, Boston mayor for cabinet positions

by David Brancaccio and Nancy Marshall-Genzer
Jan 8, 2021
President-elect Biden also nominated Isabel Guzman as head of the Small Business Administration.
Gina Raimondo and Marty Walsh, both Democrats, are the commerce secretary and labor secretary picks, respectively.
Paul Morigi/Getty Images for Fortune/Time Inc and Jessica Kourkounis/Getty Images
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COVID & Unemployment

Expanded unemployment benefits help small businesses, too

by Justin Ho
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.
Joe Raedle/Getty Images
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COVID-19

Lifeguards, veterinary assistants and architects: a look at some of the jobs protected by PPP loans

by Kai Ryssdal and Maria Hollenhorst
Jul 13, 2020
About 75% of small businesses sought Paycheck Protection Program loans and about 72% of them got PPP loans, according to the Census Bureau.
Seattle Veterinary Associates is among the millions of businesses that have received loans through the federal Paycheck Protection Program.
Courtesy of Seattle Veterinary Associates
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COVID-19

Who got PPP loans? Trump administration releases the data.

by Sabri Ben-Achour , Nova Safo and Alex Schroeder
Jul 7, 2020
It's clear the loans went to some enterprises that are once again prompting questions about who really needed the government aid.
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

PPP loans deadline passes, but not before Senate approves extension

by David Brancaccio , Nova Safo and Alex Schroeder
Jul 1, 2020
Congress and the Trump administration have not yet agreed on a plan for distributing the unused $130 billion remaining in the program.
Getty Images
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COVID-19

Why some business owners are applying for PPP loans at the last minute

by Justin Ho
Jun 29, 2020
The deadline for Paycheck Protection Program loan approvals is Tuesday. Some haven't been clear about their eligibility. Others have been trying since the beginning.
A woman makes a purchase at a Nevada coffee shop. Some small business owners are applying for PPP loans now because they weren't sure whether they were eligible before.
Ethan Miller/Getty Images
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COVID-19

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

by Kristin Schwab
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
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