Last updated: May 18, 2021
Overview
On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act” (“Economic Aid Act”). The Economic Aid Act made available approximately $284.5 billion in new Paycheck Protection Program (“PPP”) funding and reopened the PPP for first- and second-draw loans on terms that are generally favorable to microbusinesses. The American Rescue Plan Act, which became law on March 11, allocates an additional $7.5 billion in funds to the PPP. The deadline to apply for a PPP loan under the American Rescue Plan Act was March 31, 2021. The PPP Extension Act of 2021, which became law on March 30, extends the PPP application deadline to May 31, 2021. The PPP Extension Act also provides an additional 30 days until June 30 for the SBA to finish processing applications received by the M
Last updated: May 18, 2021
Overview
On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act” (“Economic Aid Act”). The Economic Aid Act made available approximately $284.5 billion in new Paycheck Protection Program (“PPP”) funding and reopened the PPP for initial and second-draw loans on terms that are generally favorable to nonprofits. The American Rescue Plan Act, which became law on March 11, allocates an additional $7.25 billion in funds to the PPP. The deadline to apply for a PPP loan under the American Rescue Plan Act was March 31, 2021. The PPP Extension Act of 2021, which became law on March 30, extended the PPP application deadline to May 31, 2021. The PPP Extension Act also provided an additional 30 days until June 30 for the SBA to finish processing applications received by the May
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Carver Federal Savings Bank s Customers Can Now Access Wells Fargo s Nationwide Network of ATMs
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NEW YORK, May 17, 2021 /PRNewswire/ Carver Federal Savings Bank ( Carver or the Bank ), a certified Minority Depository Institution, announced today that its customers can make withdrawals at Wells Fargo s nationwide ATM network without incurring a surcharge fee. This service, being offered by Wells Fargo to Carver customers, is effective immediately. Carver s partnership with Wells Fargo will provide our customers with enhanced access points to their money nationwide at a time in which the economy is re-opening, said Michael T. Pugh, President, and CEO of Carver. Combined with the Allpoint ATM Network service, our customers can now make withdrawals, transfer funds, and check account balances at more than 80,000 ATMs worldwide without incurring a surcharge fee.
Overview
The New York State 2021–22 Executive Budget passed in March includes $1 billion in financial relief for small businesses. The funding initiatives include:
$800 million for the Pandemic Small Business Recovery Grant Program,
$25 million for the Restaurant Resiliency Program,
$40 million to Arts & Cultural Organizations,
$100 million NYC Musical and Theatrical Production Tax Credit, and
$35 million Restaurant Return to Work Credit.
The $1 billion Business Pandemic Recovery Initiative is administered by the Empire State Development Corporation (ESD).
Access to these programs is crucial for the 27th District so my office and I have compiled information on each program and will keep you updated as more details and applications are finalized.