Latest Small business News

Harris, Yellen focus on community finance at Freedman Forum

Sep. 30, 2022 15:10 PM EDT

WASHINGTON (AP) — Vice President Kamala Harris and Treasury Secretary Janet Yellen plan to use this year's Freedman's Bank Forum to highlight how federal coronavirus pandemic relief program funds have helped support Black- and minority-owned businesses. The Treasury Department...

Can small businesses afford to stay in Tampa Bay?

Sep. 24, 2022 03:11 AM EDT

ST. PETERSBURG, Fla. (AP) — Delma’s, The Flower Booth has operated out of the same 3,752-square-foot shop in St. Petersburg’s Kenwood neighborhood since 1953. Stephanie Anderson – who took over the florist business started by her aunt Delma Nichols Booth – said they’ve...

Police: Inmates got out of Illinois jail with pandemic loans

Sep. 22, 2022 16:56 PM EDT

JOLIET, Ill. (AP) — More than two dozen people have been charged in Illinois with fraudulently obtaining pandemic relief money, with authorities alleging that some of them were behind bars when they used their relief money to post bond and free themselves from jail. Joliet Police...

UK businesses laud energy relief, but costs still a struggle

Sep. 22, 2022 02:26 AM EDT

LONDON (AP) — At Sophia Sutton-Jones' bakery in North London, the electricity bill has more than tripled since the start of the year. It now costs 5,500 pounds ($6,260) a month to power the ovens and keep the lights on at Sourdough Sophia. “Where should I magically take 4,000...

US has sent $8.28 billion in pandemic funds to local lenders

Sep. 21, 2022 17:30 PM EDT

WASHINGTON (AP) — On the same day the Federal Reserve gave a sobering report on the U.S. economy's trajectory, administration officials highlighted how they have kept some of the nation's smallest businesses afloat through the pandemic. Roughly $8.28 billion in relief funds have...

Low-interest loans available following storms in WVa

Sep. 19, 2022 04:14 AM EDT

HUNTINGTON, W.Va. (AP) — Low-interest disaster loans are available to businesses and people affected by severe storms and flooding in West Virginia last spring, the U.S. Small Business Administration said. The declaration covers Cabell County and adjacent counties of Lincoln,...

Is a line of credit right for your business recession plan?

Sep. 15, 2022 07:36 AM EDT

More than 90% of small-business owners are worried about experiencing an economic recession over the next 12 months, according to a June 2022 Goldman Sachs survey. Because lenders tend to tighten their lending standards during recessions, small-business owners may be looking for ways...

As small businesses raise prices, some customers push back

Sep. 11, 2022 12:06 PM EDT

NEW YORK (AP) — Inflation isn’t only costing small businesses money. It’s costing them customers as well. At the Bushwick Grind Cafe in Brooklyn, New York, Kymme Williams-Davis has raised prices and switched to different types of goods to keep up with the rising costs of milk,...

Movie producer pleads guilty in prostitution prosecution

Sep. 01, 2022 18:22 PM EDT

NEW YORK (AP) — A California movie producer pleaded guilty in a prostitution case Thursday, admitting that he conspired to run a business that prosecutors say delivered women to clients across the United States and in England. Dillon Jordan was permitted to enter the plea remotely...

Florida man pleads guilty to $2.6M COVID-19 relief fraud

Aug. 30, 2022 17:30 PM EDT

FORT MYERS, Fla. (AP) — A Florida man has pleaded guilty to stealing more than $2.6 million in COVID-19 relief funds. Daniel Joseph Tisone, 35, of Naples, pleaded guilty Monday in Fort Myers federal court to wire fraud, bank fraud, illegal monetary transaction and possession of...