Latest Small business financing 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...

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...

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...

3 charged with filing false claims for virus relief loans

Oct. 21, 2020 4:15 AM EDT

MEMPHIS, Tenn. (AP) — Three employees of a Tennessee tax service have been charged with filing more than $1 million in false claims for coronavirus-related federal loans, federal prosecutors said. Brandy Scaife, Janisha Jones and Sharika Carpenter have been indicted on charges of wire fraud and conspiracy...

Cars line the COVID-19 drive through testing line at MidState Medical Center, Friday, Oct. 16, 2020 in Meriden, Conn. Hartford HealthCare, the parent company of MidState, has seen a recent spike in COVID-19 testing demand across all its properties, according to a Hartford HealthCare spokeswoman. (Dave Zajac/Record-Journal via AP)

Connecticut's infection rate climbs to highest since June

Oct. 20, 2020 6:17 PM EDT

Connecticut's coronavirus infection rate has climbed to its highest level since June, Gov. Ned Lamont said Tuesday, urging residents to be disciplined "a little bit longer.” The Democrat said the percentage of people infected among those tested was 3%, up from 1.7% on Monday. Meanwhile, the number of...

Nebraska offers more grants for businesses hit by pandemic

Oct. 19, 2020 2:17 PM EDT

OMAHA, Neb. (AP) — Nebraska will reopen a series of federally funded grant programs to help small businesses and nonprofits that are struggling due to the coronavirus pandemic, Gov. Pete Ricketts announced Monday. Nebraska still has $160 million available from the $1 billion it received under the federal...