Latest Small business News

N. Carolina artists face fears, change tactics in pandemic

Oct. 31, 2020 12:02 AM EDT

WILMINGTON, N.C. (AP) — As she watched COVID-19 cancel Wilmington-area festivals earlier this year, Linda Callison started freaking out a little. Callison, a 60-year-old Wilmington-based artist, relies on venues like festivals and farmer’s markets to sell her work. Her jewelry business - called Out...

FILE - This May 22, 2020, file photo shows the Federal Reserve building in Washington. A Federal Reserve survey of business conditions around the country has found that the U.S. economy grew at a “slight to modest” pace in September 2020 and early October. (AP Photo/Patrick Semansky, File)

Federal Reserve expands Main Street program to smaller firms

Oct. 30, 2020 1:43 PM EDT

WASHINGTON (AP) — The Federal Reserve will reduce the minimum loan level in its small business lending program and waive some fees to try to boost participation in a program that has so far provided little assistance to struggling companies. The Fed announced Friday that it will support loans of as low as...

Man admits to filing fraudulent claim for stimulus loan

Oct. 28, 2020 2:23 PM EDT

PROVIDENCE, R.I. (AP) — A Rhode Island man currently serving federal supervised release for robbing four banks admitted to fraudulently seeking over $4.7 million in Paycheck Protection Program forgivable loans. Michael Moller said in federal court that he received nearly $600,000 in forgivable loans...

Arizona Supreme Court explains education tax ruling

Oct. 26, 2020 5:32 PM EDT

PHOENIX (AP) — A trial judge misconstrued an earlier court ruling when he blocked a voter initiative over the summer that the state Supreme Court later revived, the high court said in a Monday ruling that explained its reasons for reinstating the Invest in Education Act to the November ballot. The high...

Ohio legislative board approves $420 million in pandemic aid

Oct. 26, 2020 4:22 PM EDT

COLUMBUS, Ohio (AP) — Small businesses, bars and restaurants, low-income renters, arts groups, and colleges and universities are among those eligible for about $420 million in federal pandemic dollars approved by an Ohio legislative budget panel Monday. The pandemic aid passed by the state Controlling...

FILE - In this April 23, 2020, file photo, President Donald Trump's name is seen on a stimulus check issued by the IRS to help combat the adverse economic effects of the COVID-19 outbreak, in San Antonio. All that aid is now gone. Yet prospects for more federal stimulus this year appear all but dead, clouding the future for the unemployed, for small businesses and for the economy as a whole.(AP Photo/Eric Gay, File)

As virus resurges, so does fear of more economic pain ahead

Oct. 26, 2020 1:20 PM EDT

WASHINGTON (AP) — With winter looming and confirmed viral cases rising, Bob Szuter's craft brewery and restaurant in Columbus, Ohio, could use another government lifeline to help survive until spring. So could many restaurants and bars that buy his beer. Szuter knows of nearly 20 in the region that have...

Software developer pleads guilty to COVID-19 fraud scheme

Oct. 26, 2020 10:14 AM EDT

SEATTLE (AP) — A Seattle man has pleaded guilty to one count of wire fraud for carrying out a scheme to defraud several COVID-19 relief programs, according to federal prosecutors. Baoke Zhang, 35, of Issaquah, Washington, pleaded guilty last week in federal court in Seattle. He admitted that he submitted...

Sen. Gary Peters, D-Mich., speaks during an event for Democratic presidential candidate former Vice President Joe Biden at Michigan State Fairgrounds in Novi, Mich., Friday, Oct. 16, 2020. (AP Photo/Carolyn Kaster)

Parties' late spending on Senate races shows GOP's jeopardy

Oct. 23, 2020 5:21 PM EDT

WASHINGTON (AP) — Republicans and Democrats are unleashing millions in eleventh-hour spending to contest Senate seats in states that read like a list of reliable GOP strongholds: Alaska. Arizona. Georgia. Iowa. Kansas. Montana. South Carolina. Texas. The reason: States in many traditionally conservative...

FILE - In this Feb. 27, 2020, file photo Ohio Gov. Mike DeWine gives an update at MetroHealth Medical Center in Cleveland on the state's preparedness and education efforts to limit the potential spread of the coronavirus. On Friday, Oct. 23 DeWine and the leaders of the House and Senate announced $429 million in aid to individuals and businesses struggling from the economic strain of the coronavirus. The money includes grants to bars and restaurants, help for low-income renters, assistance for arts and nonprofit organizations, and aid for colleges and universities. (AP Photo/Tony Dejak, File)

Ohio announces pandemic grants, governor denounces threats

Oct. 23, 2020 4:38 PM EDT

COLUMBUS, Ohio (AP) — Small businesses, bars and restaurants, low-income renters, arts groups, and colleges and universities are among those eligible for $429 million in federal pandemic dollars being released by the state next week, Gov. Mike DeWine and his fellow Republican legislative leaders announced...

FILE - This Sept. 13, 2014, file photo, shows the Chase bank logo in New York. JPMorgan Chase says profits improved marginally in the third quarter, a notable change after the nation’s largest bank had to set aside billions in the last two quarters to cover losses from the coronavirus pandemic. The New York-based bank said it earned a profit of $9.44 billion, or $2.92 a share, in the July to September period.  (AP Photo/Frank Franklin II, File)

After explosive growth at Square, Chase launches own version

Oct. 21, 2020 2:39 PM EDT

NEW YORK (AP) — After watching the explosive growth at electronic payment start-ups like Jack Dorsey’s Square, JPMorgan Chase has launched its own version to lure small business owners increasingly relying on technology during the pandemic. Chase Business Complete Banking with QuickAccept will allow...