Ongoing debates in Congress regarding a third stimulus bill float the possibility of a third round of PPP funding. Despite stalled momentum in the second round, there is a clear need for further aid: 80% of small business owners who got one PPP loan said they would like to take a second, and 44% of small business owners overall say they'd be unable to survive another six months without additional funding, according to a survey by the Small Business Majority.
Small Business News
08/11/2020 |
Business Insider
08/11/2020 |
KGNU
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08/11/2020 |
Colorado Public Radio News
Roughly 86 percent of the nearly five million loans granted nationwide were for less than $150,000, according to the SBA. Loans of that size are typically going to very small businesses, Hunter Railey, the Colorado director of the Small Business Majority, an advocacy group, said. He thinks it’s the larger loans that need extra scrutiny.
“Where I think we need to be more careful on that accountability question, and where it does deserve some additional documentation … is when the loans got larger, into the over $1 million, over $2 million range,” Railey said.
08/11/2020 |
Fox 29 WFLX
Herrle's group is pushing for a second wave of loans to keep small businesses afloat into 2021. A recent survey from the Small Business Majority found one in four small businesses will fail in the next three months without any funding.
08/10/2020 |
Houston Chronicle
When I applied for my Paycheck Protection Program (PPP) loan, banks and business owners alike were worried funds would run out quickly, so my initial loan amount was decreased by the bank processing my application. Fast forward three months, and as we come to the end of the first extension period of PPP, there is still more than a hundred billion dollars left in the fund.
08/08/2020 |
ABC News
The chance for small businesses to apply for PPP funds, forgivable loans so long at least 60% is spent on payroll, disappears Saturday. Since the program was launched April 3, more than $521.7 billion has been approved, according to the Small Business Administration.
08/08/2020 |
USA Today
"PPP is about to expire, and Congress is not prepared to provide any additional help to small businesses on the brink of collapse,” said John Arensmeyer, founder and CEO of Small Business Majority, an advocacy group which claims a membership of 65,000 nationwide. “There are a number of small businesses in our network that cannot survive even one more month at the current rate of business without more help."
08/08/2020 |
KSRO
The chance for small businesses to apply for PPP funds, forgivable loans so long at least 60% is spent on payroll, disappears Saturday. Since the program was launched April 3, more than $521.7 billion has been approved, according to the Small Business Administration.
08/07/2020 |
Medium
In open defiance of the Supreme Court, the Trump Administration is attempting to end protections for Dreamers. In my time working to advance the economic prosperity of Latino owned small businesses, I have a hard time recalling a more foolish decision.
08/07/2020 |
Forbes
A survey by Small Business Majority during the first week of August found that 46 percent of small businesses expect to have to close for good by the end of the year.
