In the News: PPP Loan Forgiveness Portal Has Over 1 Million Applicants

Less than two months after the Small Business Administration (SBA) opened its PPP Loan Forgiveness Portal, it announced over one million small businesses have applied. The portal was designed to simplify the process of applying for the loan forgiveness if a business received less than $150,000. And so far it has delivered on this directive. To date, over $17 billion of relief money has been forgiven with just the portal.

However, the A Million Small Businesses Have Applied for PPP Loan Forgiveness with SBA Portal article, SBA and its Administrator, Isabella Casillas Guzman, wants the millions of small businesses that have yet to apply to do so. This will not only alleviate the financial burden of paying the loan for small business operators, but it will also help the economy grow. With small businesses making up 99.9% of all U.S. businesses, the 31.7 million owners are a huge part of the U.S. economy.

Small Business News – September 27, 2021

Read on for more articles addressing small business issues in this week’s roundup.

SBA Announces $5.4 Million in Prizes in Support of Inclusive Entrepreneurship

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New Keap Ecommerce App Covers Shopify and PayPal Integrations

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Small Business Group to Sue Biden Administration Over Vaccine Mandate

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Most Invoices Paid Within 2 Days, Especially if Sent by SMS

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Pennsylvania Business Owner Being Forced to Pay Back PPP Loan Because Bank Overextended

A report by WPIX-TV has revealed a small Pennsylvania business is being forced to pay back part of the PPP loan it received from PNC Bank after it was forgiven. According to WPIX-TV, Clean Day Housekeeping’s PPP loan was forgiven by the bank. However, the owners were told PNC Bank overextended itself, resulting in the action the bank is taking to recoup the money.

ADP Updates RUN Software with Focus on Small Business

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Product Return Scams Cost Retailers $43 Billion in 2020

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Using an Amazon Registry So Friends and Family Can Support Your Startup Business

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LLC vs. Partnership: Which is the Better Choice?

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Outside-the-Box Benefits for Employees

Today’s tight job market makes it imperative for small businesses to offer an array of benefits to employees. Many benefits are commonly offered…health care, retirement plans, and dependent care assistance. But employers may need to go beyond the basics and consider other benefits. Doing so won’t necessarily be expensive.

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This article, "In the News: PPP Loan Forgiveness Portal Has Over 1 Million Applicants" was first published on Small Business Trends