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Small Business Loans Forgiven

According to Inc., small businesses could get their loan forgiven under the new stimulus package. 

Small businesses reeling from the impact of coronavirus may have good news coming in the form of loan forgiveness.

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Small Business Could Get Relief Under Stimulus

Under the new stimulus plan small businesses with less than 500 employees could qualify for a loan, reports Inc. 

With President Donald Trump having signed an unprecedented $2 trillion economic stimulus package aimed at supporting U.S. businesses and individuals, you're probably wondering what it all means for you as a small-business owner.

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Small Businesses in Danger

Former head of the Small Business Administration warns that 20% of all small businesses could go under during the covid-19 crisis, reports Yahoo Finance. 

The former head of the Small Business Administration under Barack Obama hailed the arrival of the coronavirus stimulus package, but warned of catastrophic outcomes for a large number of American small businesses.

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Businesses Get Creative Amid Covid-19

Small businesses work to come up with solutions to bring in cash flow during Covid related shut downs, reports KCRG.                                   

“On a normal Saturday this place is hopping,” said the owner of Main Street Exchange Tracy West. “We had trouble keeping up, but today we’ve only had 10-12 people coming through the doors.”

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US Financial Assistance Package in the Works

The senate is working to finalize a reflief package to help Americans facing economic uncertainty due to Covid-19.

Senate Republican negotiators on Thursday rolled out a massive business assistance package, seeking to stave off a recession and soaring unemployment because of the coronavirus crisis.

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Small Business Administration Helps Offset Financial Impact

According to Yahoo Finance, the Small Business Administration is working to help small businesses cope with the financial impact of COVID-19.

President Donald Trump’s plan to utilize the Small Business Administration in the U.S. government’s coronavirus response is moving quickly, a top official told Yahoo Finance, with billions set to be allocated to cash-strapped establishments around the country.

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Study: 1 in 6 American workers could be negatively impacted by social distancing

About 1 in 6 workers, or about 17 percent of U.S. employees, could be negatively impacted if social distancing becomes the norm as the nation attempts to contain COVID-19, says a new Ball State University report. “Occupational Exposure to Social Distancing: A Preliminary Analysis Using O*NET Data,” an analysis by Ball State’s Center for Business and Economic Research (CBER), found that there are about 28 million jobs involving high levels of physical proximity with others and working with others. These jobs pay an average of $32,774 per year.

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Dallas Mavericks Owner Helps Small Business

Mark Cuban, owner of the Dallas Mavericks, is offering to reimburse people who buy breakfast or lunch from local small businesses, reports CBS DFW 21.

The Dallas Mavericks and Mark Cuban are continuing to pay it forward to support those affected by the concerns over the coronavirus outbreak.

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U.S. Treasury Works to Help Business

According Bloomberg, the U.S. Treasury is working on a relief package for businesses affected by Covid-19.

The U.S. Treasury will be able to support smaller businesses impacted by the coronavirus through an economic relief plan that the House passed late Friday, Treasury Secretary Steven Mnuchin said in a statement.

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Business in Michigan Adapting

Michigan small businesses are struggling to adapt to the new business model that is a result of Covid-19, reports Crain’s Detroit Business. 

Monica Wheat was slightly ahead of the curve. The afternoon of Friday, March 6, Wheat, the executive director and co-founder of Detroit-based startup economy consulting firm Venture Catalysts, learned that the annual South by Southwest tech and music festival in Austin, Texas, had fallen victim to concerns of spreading COVID-19, the disease caused by the new coronavirus

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