Small Business
Bipartisan Group of Lawmakers Release More Details on $908B Stimulus Plan
Bipartisan Group of Lawmakers Release More Details on $908B Stimulus Plan The bipartisan group of Senators negotiating for a COVID-19 economic stimulus bill released more details of their $908 billion plan today. The U.S. Congress is attempting to come to an agreement on economic stimulus legislation before the end of the year. The current plan…
Read MoreMassachusetts Passes Right to Repair Ballot Initiative
Massachusetts Passes Right to Repair Ballot Initiative Last night, Massachusetts voters overwhelmingly passed Question 1 “Right to Repair” ballot initiative, 75 percent to 25 percent. This proposal expands upon the previously passed Right to Repair initiative. expanding the scope to include telematics information. This was a hotly contested initiative, and both sides spent millions…
Read MoreASA Urges Shops to Contact Congress to Move New COVID-19 Relief Stimulus Package
ASA Urges Shops to Contact Congress to Move New COVID-19 Relief Stimulus Package This week in Congress, talks continue between Treasury Secretary Steven Mnuchin, Speaker of the House Nancy Pelosi, other Republican congressional leaders, and members of the Trump Administration to finalize another stimulus package for COVID-19 relief. Speaker Pelosi and Secretary Mnuchin have been…
Read MoreSBA Announces Streamlined Loan Forgiveness Process for Small PPP Loans
SBA Announces Streamlined Loan Forgiveness Process for Small PPP Loans The Small Business Administration (SBA) announced a streamlined process for Paycheck Protection Program (PPP) Loans under $50,000. Loans under $50,000 account for approximately 3.5 million of the 5.2 million total loans issued through PPP. This announcement comes after consistent complaints from small business owners about…
Read MoreU.S. House Small Business Committee Holds Hearing on Fraud and the PPP
U.S. House Small Business Committee Holds Hearing on Fraud and the PPP The United States House of Representatives Committee on Small Business conducted a hearing today to discuss ongoing fraud in the Paycheck Protection Program (PPP) and potential remedies. This hearing follows a Government Accountability Office (GAO) report that the Small Business Administration (SBA) neglected…
Read MoreGovernment Accountability Office Predicts Trouble with PPP Loan Forgiveness
Government Accountability Office Predicts Trouble with PPP Loan Forgiveness The Government Accountability Office (GAO) released a new report Monday warning of potential delays and bureaucratic difficulties for businesses attempting to convert their Paycheck Protection Program (PPP) loans into forgivable grants. As of September 8, the Small Business Association (SBA) has processed and forgiven only 56,000…
Read MoreWhite House Signs PPP Extension
White House Signs PPP Extension On July 4, 2020, President Trump signed S. 4116 into law. The bill extends the Paycheck Protection Program (PPP) application period to August 8, 2020. The U.S. Senate and U.S. House of Representatives passed the bill last week. To read the statement from the White House, click here. Categories…
Read MoreHouse Passes PPP Extension
House Passes PPP Extension The U.S. House of Representatives just passed S. 4116, a bill that extends the Paycheck Protection Program (PPP) application period to August 8, 2020. The U.S. Senate passed the bill last night under unanimous consent. The bill will be sent to President Trump’s desk to be signed into law. Categories Auto…
Read MoreU.S. House Committee Holds Hearing on the EIDL
U.S. House Committee Holds Hearing on the EIDL The U.S. House Committee on Small Business convened a hearing entitled, “The Economic Injury Disaster Loan Program: Status Update from the Administration.” Per the hearing notice from the committee, Mr. Rivera is responsible for the implementation of the Economic Injury Disaster Loan (EIDL) program, and the hearing…
Read MoreU.S. Senate Passes PPP Extension through August 8, 2020
U.S. Senate Passes PPP Extension through August 8, 2020 Last night, the U.S. Senate passed a bill extending the Paycheck Protection Program (PPP) until August 8, 2020 under unanimous consent. The passage of the bill comes hours just before deadline for applications closed at midnight June 30, 2020. Per Politico, Senators had agreed that small…
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