Paycheck Protection Program Reopens As Small Business Owners’ Optimism Wanes
The Paycheck Protection Program reopened Friday with a more finessed approach, as small business optimism is waning.
District Director for the Montana Small Business Association District Office Brent Donnelly says when the program was first rolled out early in the pandemic, the SBA’s goal was to get loans out as quickly as possible. The frenzy of that first round of funding had our banks so busy that they were just trying to serve as many folks as they can.
Now, he says, the SBA is able to use the lessons of that rollout to simplify the process and provide better guidance.
by Kim Jarrett, The Center Square | January 14, 2021 10:30 AM Print this article
The Assembly Commerce and Economic Development Committee agreed to two bills Wednesday that look to establish a commission to study the impact of COVID-19 on New Jersey’s small businesses.
“Businesses throughout New Jersey have been forced to reduce their hours of operation, limit capacity, implement layoffs and ultimately face the prospect of permanent closure if they can no longer pay the bills,” said Assemblyman Bill Moen, D-Camden/Gloucester, one of the bill’s co-sponsors. “We need to understand the impact of this public health crisis in order to understand how to best help these businesses going forward.”
US stocks eked minor gains on Tuesday as investors bet on stimulus and COVID-19 vaccines to fuel a swift economic rebound. Still, stocks lofty valuations
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Nasdaq composite: 13,072.43, up 0.28%
Shambolic vaccine distribution across the US has also cut into some investors recovery outlooks. CNBC reported Tuesday morning that the Trump administration will issue updated vaccination guidance that expands eligibility to everyone 65-years-old and older. The move comes after some states discarded vaccines instead of using them on ineligible populations. Vaccine rollouts have been messy, but as more vaccines get regional approval, risk appetite is thriving as we get closer to the other side of COVID, Edward Moya, senior market analyst at Oanda, said.
The mild uptick comes after stocks stumbled to start the week. Equities fell from record highs on Monday as investors weighed the impact of an impeachment vote and stretched valuations. Facebook and Twitter dragged on major indexes as investors balked at the companies moves to ban permanently Trump.