INSIDER
SBA offering disaster loans to help Florida businesses, residents impacted by Hurricane Helene
The U.S. Small Business Administration is offering disaster loans for businesses and residents in Florida impacted by Hurricane Helene.
Were you billed for an SBA EIDL or PPP loan you donโt owe? Hereโs what to do
Did you get a bill for a Small Business Administration Paycheck Protection Program (PPP) loan or COVID-19 Economic Injury Disaster Loan (EIDL) you never applied for? If the answer is yes, an identity thief probably used your personal information to get the loan.
SBA adds Flagler to list of counties eligible for business, home disaster loans
The U.S. Small Business Administration on Tuesday added Flagler County to the list of counties eligible for business and home disaster loans in the aftermath of Ian.
Trump administration to give Congress full virus loan data
WASHINGTON After prodding from Democratic lawmakers, the Trump administration has agreed to give Congress but not the public complete data on the millions of small businesses that received loans from a $600 billion-plus coronavirus aid program. Their concession came with a warning to lawmakers not to divulge confidential loan information to the wider public. Last week, the Treasury Department and SBA relented to pressure from lawmakers and watchdogs and agreed to publicly disclose details on which businesses received loans under the program. Under the new agreement, the agencies will provide the complete data on loans of all sizes to the congressional oversight panels. Economists have said the small business loan program has helped, though its hard to know by how much.
Mnuchin says businesses will need more help
Treasury Secretary Steven Mnuchin speaks during a Senate Small Business and Entrepreneurship hearing to examine implementation of Title I of the CARES Act, Wednesday, June 10, 2020 on Capitol Hill in Washington. Mnuchin, testifying before the Senate Small Business Committee, said the administration plans to spend the next 30 days looking at what measures should go in the next relief bill. There is no question that small businesses in many industries will need more help, Mnuchin said. Small businesses and larger businesses are going to need more help.New support measures will need to encourage business owners to rehire workers, especially those in the hardest hit industries like restaurants and travel, he said. The applications require more paperwork from small businesses than the paycheck protection loans.
How to avoid scams while applying for small business loan
But, while youโre focused on getting a loan, scammers may be focused on you: hoping to trick you into giving them sensitive business information, like your bank account numbers, employeesโ Social Security numbers, and even your money. Here are some โdosโ and โdonโtsโ to help you stay clear of scammers as you apply for a small business loan. You donโt have to pay up front to get an SBA loan. The SBA wonโt call unsolicited to find out information about you or your business, or to ask you to apply for a loan. Itโs a The SBA wonโt call unsolicited to find out information about you or your business, or to ask you to apply for a loan.