Tag Archives: small businesses

Banks miss 2021 lending quota for land reform and agrarian sectors

PHOTO BY CINDY S. REYES, DEPARTMENT OF AGRICULTURE – PHILIPPINE RICE RESEARCH INSTITUTE PHILIPPINE BANKS failed to meet the minimumcompulsory loans for agriculture and agrarian reform (agri-agra) sectors in 2021, according to the central bank. Lenders disbursed loans worth 851.76 billion pesos at the end of December in these sectors, …

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ETF seeks to leverage the influence of politicians

Interested in ETFs? Visit our ETF hub for news and investor insights, market updates and analysis, and easy-to-use tools to help you select the right ETFs. Corporate lobbying is often criticized for allowing powerful corporations to exert undue influence on the democratic process. But if it works, small investors will …

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El Salvador will offer crypto loans to SMEs

Friday, January 21, 2022 10:10 a.m. Salvadoran President Nayib Bukele participates in the closing ceremony of a congress for cryptocurrency investors. El Salvador made Bitcoin legal tender in September 2021. The government of El Salvador reportedly intends to offer crypto loans to small and medium enterprises (SMEs). The National Commission …

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Will Congress Pass New Big Tech Regulations? Time may be running out.

Capitol Hill lawmakers are preparing a major push on bills aimed at curbing the power of the nation’s biggest tech companies as they see the window of opportunity rapidly closing ahead of the midterm elections. In a significant step forward, a Senate committee voted Thursday to advance a bill that …

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“Magna Carta” for MSMEs producing a “parvi eventus”

Read this in the digital edition of the Manila Times. As reported by the Bangko Sentral ng Pilipinas (BSP) this weekend, Philippine banks again failed to meet their obligation to provide loans to micro, small and medium enterprises (MSMEs) at the end of the third quarter of this year. In …

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The effect of calamities is never neutral in terms of class, the poor suffer the most from all pandemics

The effect of calamities is never neutral in terms of class, the poor suffer the most from all pandemics Sanjay Roy The pandemic and its consequences that have manifested in different parts of the world and, more importantly, its differential impact on classes of people and segments of the population …

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Carpetbagger banks drain my town of loanable funds

The US banking industry is the most regulated industry in the world. Besides the well-known litany of laws and the alphabet soup of regulations, there are others that we do not hear about. Article 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 is one of the …

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The availabilities of the tourist loan window remain sluggish

AVAILABILITY of the government loan facility for the tourism sector remains low even though 70 percent of the sector is “in distress”. Data from the Department of Tourism (DOT) showed that as of November 5, 2021, there were 528 loan applications amounting to P242.83 million that were approved by state-owned …

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America’s New War on Terror has gone digital

This week, the Cybersecurity and Infrastructure Security Agency, the National Security Agency and the Federal Bureau of Investigation unveiled some sort of dossier on a group called BlackMatter, which the government says is a “possible rebrand” of the DarkSide-based entity. in Russia and has been active since July, wreaking havoc …

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Support to the public sector – New Jersey Business Magazine

It clarifies the fringe benefits of state-mandated employees, such as thearned sick leave, paid family leave, temporary disability and workers compensation. In addition, it identifies the licensing and certification requirements that one needs to operate, such as small business, woman, minority, or veteran owned business certification.ns. Willoughby says five of …

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Biden suggests new approach for COVID-19 | New

President Joe Biden’s new six-pronged approach to dealing with COVID-19 hopes to protect Americans while introducing new regulations to help the economy and keep schools open amid the raging Delta variant. The six-pronged plan aims to immunize the unvaccinated, protect the vaccinated, keep schools open, increase testing and mask requirements, …

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President Biden’s COVID-19 Action Plan

President Biden recently unveiled a comprehensive six-pronged national strategy, End of the pandemic, to fight COVID-19. Vaccinate the unvaccinated Protect the vaccinated more Keeping schools safe Increased testing and masking requirement Protect our economic recovery Improving care for people with COVID-19 The links above will take you to each page …

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The financing gap for SMEs during the pandemic

The DTI’s MSME Development Plan Progress Report contains very revealing data on MSMEs’ access to credit from formal financial institutions. Recall that in 2008, Republic law n ° 9501 prescribes that banks must set aside 8% of their total loanable funds for micro and small businesses while 2% should be …

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The situation of MSMEs

MICRO, Small and Medium Enterprises (MSMEs) are supposed to be the economic backbone of the Philippines. They make up 99.5% of the country’s business establishments, provide 63% of the jobs for the Filipino workforce, and contribute around 40% of the country’s gross domestic product (GDP). Yet they only receive a …

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ararental.org> Location Pulse> Article

September 09, 2021 Today, President Joe Biden announced new changes to the COVID-19 Injury-Related Economic Disaster (EIDL) Loan Program, which provides long-term, low-cost loans to people affected by the pandemic of coronavirus (COVID-19). According to the White House, the changes will allow more companies to gain greater and more flexible …

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how to make an empty slogan work

If the Conservatives have a big idea, it is to take it to the next level. Few could disagree with the premise – the need to tackle Britain’s deep and yawning divide between regions, communities and citizens. Yet despite some additional funding and promises that the idea would be turned …

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CapitalNow Cannabis Talks B2B Payments, Finance

Unlike the United States, the legal cannabis market in Canada is not what some describe as a “duffel bag economy” – an ecosystem forced to depend on physical money to function, from consumer transactions to consumer transactions. pay through B2B payments. Still, that’s not to say that the Canadian marijuana …

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LandBank acquires UCPB as part of P2,7-t merger

The merger between the Land Bank of the Philippines and the United Coconut Planters Bank will strengthen the government’s efforts to build a stronger, unified banking institution capable of serving coconut farmers and other workers in the agricultural sector, said Tuesday. a senior officer of LandBank. President Rodrigo Duterte ordered …

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PPP lending process now simplified, says SBA

Companies that received less than $ 50,000 in paycheck protection program funds can now file a simplified form with their bank to obtain waiver on this loan, the US Small Business Administration said Thursday evening. The one-page form asks for basic information such as the number of employees, the size …

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Chicago-based Potbelly Returns $ 10M Small Business Loan | Chicago News

(Wikimedia Commons) Chicago-based sandwich chain Potbelly, which offers a signature six-meat sandwich called The Wreck, was turned into a $ 10 million loan through the state Payroll Protection Program (PPP). Potbelly Corporation announced on Saturday that it would return the money after receiving “further clarification from the Treasury Department” about …

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NC woman went on a shopping spree with a $ 150,000 viral aid loan, prosecutors say

CHARLOTTE, NC (AP / WBTV) – Federal attorneys say a North Carolina woman lied to get nearly $ 150,000 in coronavirus aid that she later spent shopping. Jasmine Johnnae Clifton, 24, appeared in court on Monday after being charged with two disaster-related fraud allegations last week, according to a US …

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Legislature Proposes $ 25 Million Funding for North Carolina Nonprofit’s Small Business Loan Program | North Carolina

(The Center Square) – North Carolina legislature has proposed a bill that would pour $ 25 million into a loan program to help small businesses in the aftermath of the COVID-19 pandemic response. Members of the House Select Committee on Covid-19’s Economic Support Working Group on Tuesday discussed a proposal …

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6 Ways To Make Sure You Don’t Screw Up Your PPP Loan

Congratulations. You have all the documents for your PPP (Paycheck Protection Program) and hopefully within a few days you will have the money in the bank. Now is the time to start planning how to make sure you are using funds properly. The most attractive part of the PPP loan …

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Golden LEAF Fast Recovery Loan Program Guide | Brooks Pierce

The Golden LEAF Foundation is providing $ 15 million to launch a rapid recovery loan program in response to economic losses for small businesses related to COVID-19. The program is launched by a consortium of public, private, and nonprofit partners who have come together to help stabilize North Carolina’s small …

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County introduces revolving loan fund

With $ 3.25 million in secured funds, the Delaware County Board of Commissioners announced that starting Monday June 22, small businesses in the county affected by the COVID-19 pandemic will be able to file loan applications . The application for the revolving loan fund of the district is available at …

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Data release shows extent of impact of local PPP lending | COVID-19

TRAVERSE CITY – Clark Manufacturing Company received a million dollar loan several months ago through the State Paycheck Protection Program, a comprehensive effort to keep U.S. businesses running during the COVID-19 pandemic and provide a direct incentive for small businesses to Keep employees on their payroll. The money enabled Clark, …

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Sweetgreen Returns $ 10 Million PPP Loans

Sweetgreen announced on Wednesday that it is refunding the $ 10 million it received from the paycheck protection program. The Company wrote on medium that the loan was approved on April 16 – the day the $ 349 billion program ran out of money. The brand said it applied for …

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$ 349 billion loan program is out of money

On Thursday, the $ 349 billion small business program ran out of funds almost two weeks after the application process opened, according to the Small Business Administration website. The funds were part of the stimulus package’s paycheck protection program, which provides forgivable credit to help businesses pay employees, rent and …

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Restaurants are getting a lifeline with PPP lending changes

On Wednesday, the US Senate unanimously passed the Paycheck Protection Program Flexibility Act, which provides a much-needed lifeline for restaurants across the country. The bill is now on President Donald Trump’s desk. There are several important changes that operators have requested since the PPP came into play. The National Restaurant …

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