Tag Archives: small business

Greenwich doctor spent PPP loans on country club and vineyard after being charged in $3.6million scheme

A Greenwich eye doctor has been sentenced to eight years in federal prison, after prosecutors say he falsely billed patients for more intensive and expensive procedures than he actually performed, earning at least $3.6 million dollars, and fraudulently obtained two COVID business relief loans. Ameet Goyal, 58, of Rye, NY, …

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ORIGIN MATERIALS, INC. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Form 10-K)

On June 25, 2021, Artius Acquisition, Inc. consummated the Business Combination with Legacy Origin pursuant to the Merger Agreement. In connection with the closing of the Business Combination, Artius changed its name to Origin Materials, Inc. Legacy Origin was deemed to be the accounting acquirer in the Merger. While Artius …

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NRG ENERGY, INC. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL POSITION AND OPERATING RESULTS (Form 10-Q)

The discussion and analysis below has been organized as follows: •Executive summary, including introduction and overview, business strategy, and changes to the business environment during the period, including environmental and regulatory matters; •Results of operations; •Financial condition, addressing liquidity position, sources and uses of liquidity, capital resources and requirements, commitments, …

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NY Giants hire first woman to lead NFL player engagement

For Ashley Lynn, every day is different. Some days she’s working with a fresh-minted New York giant, helping a 20-year-old navigate a new team and a new career in what is likely a new state. Other days, she works with veteran NFL players, helping them navigate fatherhood or the inevitable …

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Asian stocks trade mixed as China signals slower growth | Economic news

By YURI KAGEYAMA, AP Business Writer TOKYO (AP) – Asian stocks were mixed on Thursday, building on a wobbly trading day on Wall Street. China announced that its economy grew at an annual rate of 7.9% in the last quarter, up from 18.3% in January-March in a stabilization of its …

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Will federal coronavirus paycheck loans actually be forgiven?

Will federal coronavirus paycheck loans actually be forgiven?

On April 14, about a month after filing for bankruptcy, Mountain States Rosen was approved for a federal loan for an amount between $2 million and $5 million. COVID-19 IN COLORADO The latest from the coronavirus outbreak in Colorado: LIVE BLOG: The latest on closures, restrictions and other major updates. …

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Governor Cuomo announces applications are now open for $ 800 million small business recovery grant program in COVID-19 pandemic

Governor Andrew M. Cuomo today announced that applications are now open for the $ 800 million COVID-19 Small Business Stimulus Grant program. The program reimburses small businesses in New York City with grants of up to $ 50,000 for COVID-related expenses incurred between March 1, 2020 and April 1, 2021. …

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Assocham calls for salary support, interest subsidy and other measures to enable MSMEs to cope with COVID-19 challenges

Assocham calls for salary support, interest subsidy and other measures to enable MSMEs to cope with COVID-19 challenges New Delhi, June 4 (KNN) Industry body Assocham has recommended that the central government consider a mechanism to support wages and an interest subsidy for MSMEs who are reeling from COVID-19 which …

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ASSOCHAM Calls for Wage Support, Interest Subsidy, and Other Measures to Help Industry Cope with Covid-19 Challenges | Odisha News | Latest Odisha News

New Delhi: Recommending a series of back-up measures, including regulatory relaxation, an ASSOCHAM document said the government should consider a wage support mechanism and an interest subsidy for MSMEs who are under the control. shock of Covid-19 which showed its heightened fury during the second wave. Even if states are …

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How to deal with ransomware hackers

Minder soon found more work. Sometimes this was a top-tier company facing a multi-million dollar ransom note, and the negotiation took weeks. Sometimes it was a small business or a nonprofit that he volunteered and tried to wrap up over the weekend. But GroupSense has rarely made any money from …

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The budget deficit narrows in April

Rising revenues from income tax payments reduced the national government’s budget deficit in April, according to data released Tuesday by the Treasury Office (BTr). The BTr’s treasury operations report placed the deficit at 44.4 billion pesos, 83.78 percent lower than the same period a year ago. Income rose 55.46% to …

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Hotel workers renew pressure for recall rights and job protection

In summary California hotel workers are eager to see if state lawmakers can revive a proposal for a “recall right” for rehiring based on seniority or offering new help. Many are also concerned that the additional help from last month’s federal relief program will not help them. Jhonae Mazique doesn’t …

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Texas leads COVID-19 small business loan approval – Houston Public Media

President Donald Trump listens to Treasury Secretary Steven Mnuchin speak about the coronavirus in the James Brady press conference room of the White House, Tuesday, April 21, 2020, in Washington. Updated at 11:50 p.m. CT Wednesday: California has now been approved for more total dollars in small business loans, although …

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How will the pandemic impact credit scores?

Lenders and creditors of all sizes are asking three key questions related to the impacts of the COVID-19 pandemic: How has the pandemic changed credit data? How has the pandemic affected credit scores? How can lenders understand and control the risks in their portfolios? These are important questions. The overall …

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PPP loans in the second draw: how to qualify and what to prove

Even with widespread distribution of a COVID-19 vaccine on the horizon, the pandemic is still not over, and neither is the financial pressure many businesses are feeling due to sustained lockdown orders. To help these struggling businesses, the federal government has opened requests for a second drawdown of P3 loans. …

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PPP loan forgiveness guide at last | Sullivan and Worcester

The Small Business Administration and the Treasury Department have finally issued a application and instructions for borrowers who request forgiveness of all or part of their Paycheck Protection Program (P3) loans. As might be expected, the material introduces new questions and ambiguities. Highlights of the app and its instructions include: …

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FinTechs Help Banks Cope with the Flurry of Emergency Small Business Lending

Many fintechs sell software solutions to lenders struggling with the influx of emergency small business loan applications. Within days of the enactment of the federal paycheck protection program, online lenders, core system vendors, and software companies created platforms and portals – often built on existing technology – that allow banks …

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Nonprofits and businesses benefiting from a PPP could face surprise audits

Nonprofit and for-profit organizations that have received loans from the Paycheck Protection Program might unexpectedly find themselves faced with the “one-time audit” requirement for the first time, even though PPP loans are supposed to be exempt. A single audit is an organization-wide audit of the financial statements and federal grants …

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Federal authorities target predatory small business lenders, but Pennsylvania remains an industry haven

Last summer, Philadelphia attorney Shane Heskin told Congress that Pennsylvania has strong laws to prevent consumers from getting scammed on loans – but none protect business owners. “Consumers have laws that protect them from usurious interest rates,” he said. “But for small businesses, those protective laws don’t apply at all.” …

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U.S. Representative Michael McCaul and Small Business Association to Host Disaster Relief Lending Teleconference

U.S. Representative Michael McCaul and US SBA Regional Director Tim Jeffcoat will answer questions about the US Small Business Association’s Disaster Assistance Loan Program during a teleconference on April 3. (Community impact staff) Congressman Michael McCaul and representatives of the US Small Business Association will host a teleconference at city …

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Trump administration faces backlash over loan program

The Trump administration has faced a growing backlash, including from some Republicans, over the terms of a small business bailout program that allows some large companies and chains to access government guaranteed loans. . Concerns that small businesses were being squeezed out of the program designed to fight the coronavirus …

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Fintech Square now manages its own bank

The company announced Monday that the bank began operations after completing the charter approval process with the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions. It will operate as an independently managed subsidiary of Square Inc (SQ). Dorsey is also the CEO and co-founder of Twitter …

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MWBE Helps Local Businesses With Incubate To Accelerate Lending

Date Posted: 06/01/2021 11:48 AM MWBE Helps Local Businesses With Incubate To Accelerate LendingDate Posted: 06/01/2021 11:48 AM GREENVILLE, North Carolina – A local business has received some help with the impact it suffered during the recent COVID-19 pandemic when the city of Greenville made the first of its Minority …

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Chinese electric vehicle startups Byton and Nio received at least $ 5 million in paycheck protection loans

According to new data released by the Treasury Department and the Small Business Administration (SBA). Byton received his loan shortly after being on leave hundreds of employees in April, according to the US government. The company – which is backed by Chinese automaker First Auto Works – said in its …

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Small business administration: Disaster loan processing was faster, but planning improvements and pilot program evaluation were needed

Para la versión de esta página en español, ver a GAO-20-369. What GAO found The Small Business Administration (SBA) Disaster Assistance Office, which administers the disaster lending program, regularly makes disaster plans but does not deal in detail with risk and mitigation. risks in its planning documents. Specifically, the SBA’s …

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How to make sure your PPP loan is forgiven

Opinions expressed by Contractor the contributors are theirs. Many small business owners who have been approved for Paycheck Protection Program (“P3”) loans find that the loan is not as forgivable as they had hoped. LumiNola | Getty Images The amount that a small business can claim for a rebate should …

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Federal judge orders disclosure of PPP loan information

A federal judge in Washington, DC, ordered the US Small Business Administration to release detailed information on $ 659 billion Paycheck Protection Program (PPP) loans by November 19. The move followed a lawsuit filed in May by several media outlets under the Freedom of Information Act (FOIA). The lawsuit asked …

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SBA Extends Deadline For Businesses To Obtain Loans For Damage From Protests And Looting – NBC Los Angeles

The US Small Business Administration extended the deadline for Los Angeles business owners to apply for disaster recovery loans to cover the costs of property damage caused by the civil unrest that began on the 26th until Sept. 16. may. “This is a great opportunity for Los Angeles County small …

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New York fintech start-up Ocrolus plans to cash in on PPP loans

Ocrolus helped the new Cross River Bank process almost as many government loans as Bank of America, JPMorgan Chase, and Wells Fargo. Building on this momentum, Ocrolus plans to add 30 employees over the next two months to its 100-person municipal office. An SEC filing shows the company raised $ …

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SBA Reviews Extend Paycheck Protection Program Eligibility and Loan Remission | McCarter & English, LLP

On June 19 and 22, 2020, the Small Business Administration (“SBA”) released further revisions to its first interim final rule regarding the Paycheck Protection Program (“PPP”). The Revised provisional final rule and the Revisions to the Interim Final Loan Forgiveness Rule (collectively the “revised rules”) provide guidance to Paycheque Protection …

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Federal Paycheck Loans May Make the Difference Between Kansas Small Business Collapse and Survival

By Jim McLean TOPEKA, Kansas – Pharmaceutical companies and large hotel chains snatch COVID-19 emergency federal loans for businesses typically with 500 or fewer employees. In Kansas, however, it appears most of its $ 4.9 billion in paycheck protection program money has gotten where Congress intended: on the books of …

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New controversy for Round the Clock Diners, this time over COVID-19 aid

Owners of a local restaurant chain in York County are facing criticism online for accepting at least $ 500,000 in federal COVID-19 aid before violating Gov. Tom Wolf’s shutdown orders. Round the Clock Diner, with locations in Manchester Township and Springettsbury Township, is criticized by Facebook users who said it …

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3-star Michelin restaurants received up to $ 28 million in PPP loans – Robb Report

As restaurants battle the catastrophic impact of Covid-19, thousands of establishments have turned to the Paycheck Protection Program (PPP) for relief. Among them, at least 10 The 14 three-star Michelin restaurants in the United States, which has collectively received up to $ 28 million in government guaranteed loans, according to …

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Loan Program to Help Lexington Small Businesses During the Pandemic

Businesses will be able to request up to $ 20,000. The loan will also be for a four-year term with an interest rate of 2%. LEXINGTON, SC – The city of Lexington has announced a loan program to help the city’s small businesses weather the coronavirus pandemic. Shops and restaurants …

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FAMU Federal Credit Union and OEV Create Million Dollar Microcredit Program

In response to a growing call for loans, a new million dollar microcredit program aims to support women and minority-owned businesses in Tallahassee. The SmartSteps program offers microloans up to $ 50,000 through a partnership between the FAMU Federal Credit Union and the Tallahassee-Leon County Office of Economic Vitality. “We …

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Why PPP Loans May Not Be Enough For These Business Owners

Robert Miller, a restaurateur in the Pittsburgh area, has watched with sadness the permanent closure of some of his favorite local restaurants in recent weeks. Union Standard, Pizza Taglio, Spoon – just a handful of businesses lost in the era of the coronavirus pandemic. “These are all places people know …

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Small businesses hope for relief with new PPP loan funds

WINTER HAVEN, Fla .– Small businesses get another chance to make federal dollars on Monday with a new relief bill that injects $ 284 billion into the paycheck protection program. “I applied the last time and was unsuccessful,” said Annette Parrish, a small business owner in Winter Haven. “By the …

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