Tag: SBA

Small Business Administration Streamlines Forgiveness Process for PPP Loans

Filed in Disaster Response by on July 29, 2021 10 Comments
Small Business Administration Streamlines Forgiveness Process for PPP Loans

The U.S. Small Business Administration (SBA) is launching a streamlined application portal on Aug. 4 to allow borrowers with Paycheck Protection Program (PPP) loans of $150,000 or less to apply for loan forgiveness directly through the SBA instead of going through their participating lender.

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SBA Increases Loan Limits for COVID-19 EIDL Program

Filed in Business Management, Disaster Response by on April 7, 2021
SBA Increases Loan Limits for COVID-19 EIDL Program

The Small Business Administration (SBA) has announced a policy change to help businesses weather the financial hardship brought on by the COVID-19 pandemic by significantly increasing loan limits up to 24 months of economic injury with a maximum loan amount of $500,000.

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SBA, Treasury Ease PPP Forgiveness Requirements for Loans of $50,000 or Less

Filed in Advocacy, Disaster Response, Housing Finance by on October 9, 2020 0 Comments
SBA, Treasury Ease PPP Forgiveness Requirements for Loans of $50,000 or Less

The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, has released a simpler loan forgiveness application for business owners who received Paycheck Protection Program (PPP) loans of $50,000 or less.

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Beware of Scams Related to Economic Stimulus Programs

Filed in Business Management, Disaster Response by on September 9, 2020 0 Comments
Beware of Scams Related to Economic Stimulus Programs

The U.S. Small Business Administration’s Office of Inspector General is warning small businesses about potential fraud schemes related to economic stimulus programs offered by the SBA in response to COVID-19.

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NAHB and Michigan Builders File Suit to Expand PPP Eligibility

Filed in Disaster Response, Legal by on June 30, 2020 3 Comments
NAHB and Michigan Builders File Suit to Expand PPP Eligibility

With so many builders unfairly unable to obtain a forgivable loan under the Paycheck Protection Program (PPP), NAHB, along with the HBA of Michigan and HBA of Southeastern Michigan, today filed a lawsuit against the U.S. Department of Treasury and the U.S. Small Business Administration, challenging their decision to apply onerous regulations onto PPP that prevent certain builders and developers from accessing this much-needed source of funding and having those loans forgiven.

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SBA and Treasury Release PPP Loan Forgiveness Application

SBA and Treasury Release PPP Loan Forgiveness Application

The U.S. Small Business Administration, in consultation with the U.S Department of the Treasury, has released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application. 

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House Bill Would Allow HBAs to Access PPP Loans

House Bill Would Allow HBAs to Access PPP Loans

At NAHB’s urging, Reps. Chris Pappas (D-N.H.), Brian Fitzpatrick (R-Pa.), Gil Cisneros (D-Calif.) and Greg Steube (R-Fla.) have introduced legislation that would allow trade associations that serve the home building industry — including the hundreds of home builder associations throughout the nation — to access small business loans under the next round of funding for the Paycheck Protection Program (PPP).

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SBA Now Taking PPP Loan Applications; New EIDL Applications are on Hold

SBA Now Taking PPP Loan Applications; New EIDL Applications are on Hold

The Small Business Administration resumed accepting Paycheck Protection Program loan applications  as of 10:30 a.m. EDT this morning (April 27). If you were in the process of applying for a Economic Injury Disaster Loan and have an application number that begins with the No. 3, you do not need to reapply for a loan.

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Reapplying for Small Business EIDL Loans Under the CARES Act

Reapplying for Small Business EIDL Loans Under the CARES Act

As Congress renewed funding for small-business loan programs that ran out of money under the CARES Act, those who were caught in the middle of the application process need to know the following the information.

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SBA Announces PPP and EIDL Loan Programs are Out of Money

Filed in Advocacy, Disaster Response by on April 16, 2020 11 Comments
SBA Announces PPP and EIDL Loan Programs are Out of Money

The Small Business Administration (SBA) has announced it has run out of funding to process any more small business loans through the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan Program (EIDL) that  were created under the CARES Act. These loan programs are designed to help small businesses that have been harmed by the COVID-19 pandemic.

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