Latest U.S. Small Business Administration News

Victor Flores, 66, a third-generation owner of a gift shop, sweeps the steps of his store on Olvera Street in downtown Los Angeles, Wednesday, Dec. 16, 2020. Millions of business owners are about to get additional help as they weather the coronavirus outbreak. The Small Business Administration and the Treasury Department are reviving the Paycheck Protection Program five months after its first two rounds of funding ended. (AP Photo/Jae C. Hong, file)

More coronavirus relief on the way for small businesses

Jan. 8, 2021 10:34 AM EST

NEW YORK (AP) — For Nancy Sinoway, a second coronavirus relief loan would increase the chances that her dressmaking business will survive. “I could use it for marketing, for new samples. I could use it as a lifeline,” says Sinoway, who designs and makes dresses for occasions like weddings and...

FILE - In this June 5, 2020 file photo, President Donald Trump poses for a photo after signing the Paycheck Protection Program Flexibility Act during a news conference in the Rose Garden of the White House in Washington.  Thousands of minority-owned small businesses were at the end of the line in the government’s coronavirus relief program as many struggled to find banks to accept their applications. Or, they were disadvantaged by the program's terms. Data from the Paycheck Protection Program analyzed by The Associated Press show many minority owners desperate for a loan didn’t receive one until the PPP's last weeks.   (AP Photo/Evan Vucci, File)

Minority-owned companies waited months for loans, data shows

Jan. 3, 2021 11:09 AM EST

NEW YORK (AP) — Thousands of minority-owned small businesses were at the end of the line in the government’s coronavirus relief program as many struggled to find banks that would accept their applications or were disadvantaged by the terms of the program. Data from the Paycheck Protection Program...

Cooper signs disaster declaration for N. Carolina counties

Dec. 16, 2020 4:19 AM EST

RALEIGH, N.C (AP) — The Small Business Administration has approved North Carolina Gov. Roy Cooper’s request for a disaster declaration for five counties affected by heavy rains from the remnants of Tropical Storm Eta. The declaration, signed by Cooper on Tuesday, affects Alexander, Caldwell,...

FILE - In this Dec. 13, 2012 file photo, Thomas Stith, transition team executive director for then Gov.-elect Pat McCrory, speaks during McCrory's first news conference since the week he was elected North Carolina's next chief executive in Raleigh, N.C. Stith, the head of the U.S. Small Business Administration in North Carolina, was hired Monday, Dec. 14, 2020, to lead the state's community college system. (AP Photo/Gerry Broome, File)

Stith named to lead North Carolina community college system

Dec. 14, 2020 4:38 PM EST

RALEIGH. N.C. (AP) — Thomas Stith III, the head of the U.S. Small Business Administration in North Carolina and a former top aide to then-Gov. Pat McCrory, was hired Monday to lead the state's community college system. The State Board of Community Colleges voted unanimously in an online meeting to choose...

A Maine farm no one has heard of received $1.2M PPP loan

Dec. 9, 2020 6:04 PM EST

BRIDGTON, Maine (AP) — A Paycheck Protection Program loan for nearly $1.2 million issued to an organic farm operator allegedly located in western Maine has raised suspicion after a massive disclosure of federal records about the small business relief program. According to records released by the U.S....

Snowmaking guns await colder temperatures at Shawnee Peak, Monday, Nov. 30, 2020, in Bridgton, Maine. Ski areas in Maine have been implementing modifications to meet state COVID-19 safety protocols. Among the changes at Shawnee Peak will be new sheltered outdoor food service and extended dining capacity. Alpine skiing in Maine has an estimated economic impact of $1 billion annually, according to the Ski Maine Association. (AP Photo/Robert F. Bukaty)

Maine lawmaker to miss swearing in because of COVID-19

Nov. 30, 2020 4:04 PM EST

PORTLAND, Maine (AP) — The Maine Legislature will be missing at least one member because of COVID-19 when lawmakers convene this week. Republican Sen.-elect Rick Bennett, of Oxford, announced Sunday on social media that he tested positive for the virus, and will be quarantining at least through Dec. 12. He...

Dec. 28 deadline for loans for Mississippi Feb. flood damage

Nov. 26, 2020 10:42 AM EST

ATLANTA (AP) — The Small Business Administration is reminding people in Mississippi about the deadline to apply for low-interest loans to recover from floods that occurred Feb. 10-14. Dec. 28 is the deadline for applications from small businesses, small agricultural cooperatives, small aquaculture...

Mississippi counts nearly $90M in Zeta damages

Nov. 25, 2020 12:40 PM EST

BILOXI, Miss. (AP) — Hurricane Zeta left a trail of destruction and millions in damage in Mississippi when it came ashore Oct. 28, state officials said. The state has documented tens of millions in damage from the storm, which had 100 mph winds and 7 to 9 feet of storm surge, The Sun Herald reported. In...