Page 9 - Second Draw News Today

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  Milwaukee , Wis. –  Business owners who received a loan under the Paycheck Protection Program may qualify for the Second Draw PPP Loan. At least $25 billion is being set aside for eligible borrowers with a maximum of 10 employees, or for loans of $250,000 or less to eligible borrowers in low or moderate income neighborhoods. The same general loan terms are applicable as the First Draw PPP Loans with a few changes. What is the Second Draw Paycheck Protection Program? The Second Draw Pay...

Free Business Course For VT Entrepreneurs Vermont Business Magazine The Small Business Administration is accepting applications for the 2021 Vermont Emerging Leaders Program which will be held virtually and is slated to begin in the spring.   Emerging Leaders is an intensive executive-level series intended to accelerate the growth of high-potential small businesses in America’s underserved cities and rural areas. During the course, small business owners will learn to create a three-year stra...

Governor Scott’s Budget Priorities Vermont Business Magazine The Agency of Commerce & Community Development is focused on more than $100 million in economic initiatives as part of Governor Scotts budget proposal. Last Wednesday, ACCD held a webinar to review the Agency’s legislative priorities with partners and the public. A recording of that webinar and presentation is now available at the ACCDCOVID-19 Recovery Resource Center. You can also find a breakdown of the governors $210 milli...

Press release content from Business Wire. The AP news staff was not involved in its creation. Southern California Bancorp Reports Financial Results for the Fourth Quarter and Full Year 2020 February 1, 2021 GMT SAN DIEGO--(BUSINESS WIRE)--Feb 1, 2021-- Southern California Bancorp (the “Company”) (OTC Pink: BCAL), the holding company for Bank of Southern California, N.A. (the “Bank”) today reported financial results for the fourth quarter and full year of 2020. The comparability of finan...

Media Contact: Kate Ryan, 774.929.5223, kate@kateryanpr.com The unprecedented COVID-19 pandemic has shone light on an unexpected member of communities across the country: local banks. While large, national banks have received attention for the administration of PPP Loans, community banks have performed the same work for struggling businesses – while providing personalized customer service and support. Roger Zacharia, CEO of Ambler Savings Bank, shares “working closely with small businesses ...

MGN ROSEBURG, Ore. (KTVZ) -- According to a recent release by the Small Business Administration, over 1.1 million Paycheck Protection Program loans were issued in 2020, worth over $100 billion in economic relief for small businesses affected by the COVID-19 pandemic. But PPP relief doesn’t necessarily end there: Previous borrowers could be eligible for a second PPP loan in 2021. With the recent reopening of the PPP with an additional $284 billion in funding, a new “Second Draw” PPP loan...

Borrowers under the Small Business Administration’s (the “ SBA”) Paycheck Protection Program (“ PPP”) are required to either maintain or submit to lenders and the SBA certain documentation associated with their application for and their use of PPP loan proceeds. In addition, certain documentation is required for an appeal. The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “ Economic Aid Act” or “ PPP2 Act”) was enacted on December 27, 2020. On Janu...

To embed, copy and paste the code into your website or blog: The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (“Economic Aid Act”) was adopted on December 27, 2020, extending the availability of the original First Draw Paycheck Protection Program (“PPP”) Loans through March 31, 2021. It also created a new Second Draw PPP Loan program (“PPP2”) allowing prior PPP borrowers to seek a second loan.  The Economic Aid Act required the SBA to issue initial regulati...

Steele FAIRMONT — The coronavirus pandemic closed down Lion in the Sun from mid-March to mid-May, which is normally the tanning salon’s busiest season. Amber Steele, manager of Lion in the Sun, said the business was eventually able to reopen because the staff was able to implement safety measures, but it lost a large portion of its revenue during the shutdown. “The time we were closed was the busiest time of the year so we lost our busiest season,” Steele said. “We had ...