LAKELAND Hundreds of billions of federal dollars are set to reinvigorate small businesses in the near future, a measure business owners say they sorely need.
In December, President Donald Trump signed a $900 billion coronavirus relief bill that included the allocation of $284 billion for the Paycheck Protection Program, overseen by the U.S. Small Business Association. The program kept some local business owners from shutting their doors forever during economic lockdowns in the spring and summer of 2020.
While the money might not be a long-term solution if COVID-19 continues to tank foot traffic and other business performance measures, it could save some businesses on the brink of closure.
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LA chef raises over $240,000 for restaurant workers who need a lifeline Alexis Christoforous
Southern California chef and restaurateur owner, Andrew Gruel, took matters into his own hands and started a restaurant relief fund to provide assistance to struggling restaurant workers during the pandemic.
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Gruel, who owns the Slapfish Restaurant Group, set up a GoFundMe page in December, and it’s already raised more than $240,000.
“Within the restaurant ecosystem, the most important players are the people working within the restaurants,” Gruel tells Yahoo Finance. “And they ve been left out in left field without any sort of semblance of a lifeline. We don t have time to wait for big, bloated government programs to come in and try and help these people out.”
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Early in December, the United States Small Business Administration released all Payment Protection Program (PPP) loan data for loans less than $150,000.
A total of $949,517.25 went to 277 Marshalltown employers in loans less than $150,000, while a total of $1,574,792.81 in funds went to 37 Marshalltown employers in loans more than $150,000.
Funds from PPP loans have helped businesses keep their employees on payroll during the COVID-19 pandemic. The Small Business Administration will forgive loans if business’s meet employee retention criteria and funds are correctly used for eligible expenses.
The funds must be spent within a 24-week period, and 60 percent of those funds must be spent on payroll while generally maintaining their usual employee count and payroll costs.
The claim: Adam Schiff and Nancy Pelosi were arrested
Users on social media are promoting a baseless claim tied to QAnon conspiracy theorists that alleges two prominent members of Congress were recently arrested.
At QAnon s core is the prediction that The Storm will soon take place, the theory that an alleged mass arrest of high-profile Democrats and celebrities will be carried out while President Donald Trump secretly saves the world from a satanic cult of pedophiles and cannibals. The conspiracy theory has grown into a movement that is promoted by right-wing extremists. Its devoted followers perpetuate other theories through the internet that they suggest are somehow related to the main premise.