Small Business

With the U.S. economy largely shut down and the number of jobless Americans growing by millions each week, lawmakers in March moved swiftly to approve a historic stimulus package that would inject trillions of dollars into the economy as incomes and revenues evaporated.   The Coronavirus Aid, Relief, and Economic Security, or CARES, Act injects

toondelamour Business owners who received loans through the Paycheck Protection Program and don’t need it have until May 14 to return the cash. The PPP – a forgivable loan program that allows small businesses to cover up to eight weeks of payroll costs, mortgage interest and other expenses – was just refilled to the tune

Sens. Elizabeth Warren, D-Mass., center, Amy Klobuchar, D-Minn., and Senate Minority Leader Charles Schumer, D-N.Y., conduct a news conference after the Senate Policy luncheons in the Capitol, March 14, 2017. Tom Williams | CQ Roll Call | Getty Images Sens. Amy Klobuchar, D-Minn., and Elizabeth Warren, D-Mass., are pushing the Federal Trade Commission to take

States enduring the brunt of the coronavirus crisis are receiving a smaller proportion of emergency small-business loans than some Mountain and Midwest states, according to analysis conducted by the Federal Reserve. “In New York, the epicenter of the coronavirus in the United States, less than 20 percent of small businesses have been approved to receive

Ranking member Sen. Ron Wyden, D-Ore., left, speaks with chairman Sen. Chuck Grassley, R-Iowa, during the Senate Finance Committee hearing on “The United States-Mexico-Canada Agreement” on Tuesday, July 30, 2019. Bill Clark | CQ Roll Call | Getty Images Companies that cover the cost of health insurance for their furloughed workers may miss out on

U.S. President Donald Trump speaks to reporters as Senator Roy Blunt (R-MO) and Small Business Administration (SBA) Administrator Jovita Carranza look on during a signing ceremony for the “Paycheck Protection Program and Health Care Enhancement Act,” approving additional coronavirus disease (COVID-19) relief for the U.S. economy and hospitals treating people sickened by the pandemic, in

Pawel Gaul | iStock | Getty Images Millions of Americans are struggling financially, trying to make ends meet after being laid off or furloughed, and worried about when they will receive unemployment benefits. Adults of all ages are anxious about the arrival of stimulus payments. And many small business owners fear that even if they

Source: TULA The rise of virtual hangouts and work meetings hasn’t been enough to stop the battering of the beauty industry as the COVID-19 outbreak has largely put in-person activities on hold.  But there’s been a bright spot — the clean beauty market. Purveyors in the space generally offer products free of toxic chemicals and

Small business owners across the U.S. are in an impossible situation: They fear that their firms may go under in a matter of months if state lockdowns caused by Covid-19 don’t end, and yet many also are worried that reopening business too soon may result in the same fate. The Main Street bind is borne

A sign reading “Buy Local” with closed restaurants and shops on Main Street on April 10, 2020 in Livingston, Montana. William Campbell | Corbis via Getty Images The 30.7 million small businesses on Main Street that generate 50% of U.S. GDP have been hard-pressed to receive the government relief they need to stay in business.

Larry Kudlow, director of the U.S. National Economic Council, speaks to members of the media at the White House in Washington, D.C., U.S., on Monday, April 6, 2020. Stefani Reynolds | Bloomberg | Getty Images National Economic Council Director Larry Kudlow on Sunday said the White House has made no decision on providing further funding

When the coronavirus hit, small business owners were forced to navigate new territory and make difficult decisions – fully moving operations online, reducing staff or quickly creating new revenue streams. Latino entrepreneurs are among the majority of small business owners directly impacted by the economic fallout from COVID-19. According to a survey conducted online in late

Over 90 years ago, Frank Gargiulo opened a business selling fruits and vegetables door to door.  Now Gargiulo Produce is based in a warehouse in Hillside, New Jersey, and in its fourth generation of family ownership. It sells food by the truckloads to companies all along the East Coast and to cruise ships that travel

Anyone questioning their talents or abilities when embarking on a new career can take solace in this fact: even future Hall-of-Famers have doubts. That includes Terrell Davis, the former Denver Broncos star running back and NFL MVP, who won two Super Bowls in the 1990s. Davis, who was inducted into the NFL Hall of Fame

Mark Cuban told CNBC on Friday he believes small businesses in Texas face numerous challenges in trying to reopen safely and effectively during the coronavirus pandemic.  “There’s all these downstream issues that really haven’t been addressed yet, and small businesses haven’t been provided the support they need to actually get open,” said the Dallas Mavericks owner and

Owner Mark Cuban of the Dallas Mavericks reacts prior to the game against the Philadelphia 76ers at the Wells Fargo Center on December 20, 2019 in Philadelphia, Pennsylvania. Mitchell Leff | Getty Images Billionaire entrepreneur Mark Cuban said Friday that small businesses should apply to multiple banks in order to boost their chances of receiving a loan

Large companies that received money from the small business loan program are not to blame, according to former TARP watchdog Neil Barofsky. “You have to go back to the design of the program itself,” Barofsky told CNBC on Thursday.  “I mean, Congress went out of its way to carve out businesses that have more than 500

Phynart Studio Prior to the Covid-19 pandemic, an astounding 53% of the American population felt anxious about personal finances. Undoubtedly, that percentage has grown significantly, with more than 26 million Americans becoming unemployed since then. The statistics are alarming, but it is not time to panic — it’s time to plan. Although many financial plans

Subway CEO John Chidsey on Wednesday defended the company’s franchisees who applied for small business loans to help offset the economic impacts from the coronavirus pandemic.  “We literally have 10,700 franchisees in the U.S., and on average they own two restaurants apiece,” Chidsey said on CNBC’s “Squawk on the Street.”  “We are the ultimate mom-and-pop, if

CNBC’s Jim Cramer on Tuesday criticized banks for approving small business loans to larger companies that were not meant to benefit from the federal Payroll Protection Program. “I just want to know who made the bad loans. Somebody did,” Cramer said on “Squawk on the Street,” suggesting the names of the banks who facilitated the