New $284 billion PPP round starts Monday with a more targeted approach
The new pot of money sets aside $60 billion for businesses that haven’t been able to access the process so far, and it focuses on companies with 10 or fewer employees or those in low-income areas.
A new round of Paycheck Protection Program money will start becoming available to select lenders and borrowers on Monday, according to senior administration officials.
Community financial institutions approximately 10% of eligible lenders will be able to start accepting loan applications Monday for entities seeking their first PPP loans. On Wednesday, those same lenders can begin processing second-round loans for small businesses and nonprofits that have already used up their first loan, the officials said on a call with reporters Friday. The lending portal will be available for other eligible lenders and borrowers shortly thereafter.
Jan 8, 2021
Norman businesses in need of financial assistance are inching closer to thousands of dollars in grants as city staff prepare to score applications and begin cutting checks in the next few weeks, according to City Manager Darrel Pyle.
The City of Normanâs small business and non-profit organization grant program drew an overwhelming 628 applicants, a city report shows.
The City Council appropriated $1 million of approximately $3 million in Coronavirus Aid Relief and Economic Security Act funds to the program. Applications were available for up to $10,000 in grants to businesses and non-profit organizations from Dec. 3 to Dec. 28.
Mayor Breea Clark said she was pleased to see the program move forward.
New York aid for restaurants during Covid-19: List of programs, how to apply
Updated Jan 08, 2021;
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Restaurants and other food and drink businesses have been highly critical of Gov. Andrew Cuomo and his state agencies since the Covid-19 pandemic hit New York in March.
Some critics claim the state has done “nothing” to help restaurants during the pandemic.
Yet the state has offered programs and modified or relaxed some rules in an attempt to offer some aid to the dining industry struggling with the pandemic and the restrictions.
Many people may still argue they aren’t enough. Some estimates predict one in six restaurants nationwide will close due to Covid. In Central New York, more than 20 have already closed permanently, and many more are shut down temporarily with hopes to reopen in the future. Those numbers may grow.
Photo Credit: Rohane Hamilton/Shutterstock.com
While hopes remain high that the federal government will come through with additional coronavirus relief under the incoming Biden administration, ASTA says the time is now for travel agencies to take advantage of the latest round of relief that was passed in December.
The $900 billion Covid-19 relief package contains several provisions useful to travel agencies, the Society said in a media briefing Thursday. On the whole, this bill is not as generous as the [$2.2 trillion] Cares Act, said Eben Peck, ASTA s executive vice president of advocacy. But it does contain useful measures for
travel agencies.