Small Business Administration

Restaurants, car-dealers and lawyers were among the businesses that borrowed the most from a federal program to save jobs during the pandemic.

Those business sectors, along with doctors' and dentists' offices, topped the list of nearly 700,000 businesses approved for larger loans under the federal government's $660 billion Paycheck Protection Program, commonly called the PPP.

Trish Pugh started an Ohio trucking company with her husband in 2015. Even for a small business, it's small — they had two drivers, counting her husband, until they let one go because of the coronavirus crisis.

And so her company applied for a loan under the first, $349 billion round of the Paycheck Protection Program, which the federal government had set up to rescue small businesses.

It didn't go well.

Shake Shack is returning a $10 million federal loan after the Paycheck Protection Program that was meant to help small businesses ran out of money in less than two weeks of operation. The burger chain and other large businesses were able to get the money because the program covers any company with fewer than 500 workers in a single location.

Small Business Administration / SBA.gov

As businesses everywhere continue to shut down in an effort to slow the spread of COVID-19, many small business owners are left to wonder how they might survive this period of quarantine. Murray State professor of economics, finance, and banking, Dr. Chris Wooldridge, speaks with Tracy Ross over the phone to discuss possible plans of action and available assistance from the Small Business Association.

stlous.cbslocal.com

Small businesses in several Kentucky counties including, Christian County, will soon be able to recoup some financial losses from this year’s drought.

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The Purchase Area Development District has received $500,000 from the U.S. Small Business Administration to assist new or expanding businesses in seeking an SBA microloan.

www.en.wikipedia.com

Small businesses and agriculture operatives have less than a month left to apply for federal economic injury disaster loans as result of this summer’s drought. The deadline for the Small Business Administration assistance is March 12.  Loans through the program can be up to $2 million with interest rates as low as four percent for eligible small businesses and three percent for nonprofits.

Quinn Announces Aid for Tornado Victims

Apr 3, 2012
wikipedia.com

Harrisburg and other southern Illinois communities affected by a deadly tornado in February are getting up to $13 million in state and Small Business Administration aid.  Governor Pat Quinn's office announced yesterday the help includes reimbursements to local governments for some of their disaster-related expenses and road improvements.