Tag: Paycheck Protection Program
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A Lot of Sleepless Nights… Soup & Such Emerges the Other Side of COVID
By Evelyn Pyburn As it was for so many restaurant owners, 2020 was a year like no other for Mike and Antonia Craighill, who own Soup & Such in two locations in Billings.Without the Paycheck Protection Program and a loan program through Big Sky Finance, they would not have made it, they readily concede, with…
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SBA Updates COVID Programs
By Brent E. Donnelly, District Director – Montana U.S. Small Business Administration Information on the COVID programs through SBA continues to be updated.. Monitor the SBA website at www.sba.gov. l Economic Injury Disaster Loan (EIDL) – The application portal remains open for EIDL. Businesses may apply for loans through December 31, 2021. l Updated FAQ’s…
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Second Round Open of Paycheck Protection Program
The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, has re-opened the Paycheck Protection Program (PPP) for new borrowers and certain existing PPP borrowers. To promote access to capital in underserved communities, only community financial institutions could initially make PPP Loans starting on January 11. The PPP is now open to all…
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SBA Summarizes 2020 Loan Activity
The U.S. Small Business Administration announced Fiscal Year 2020 summary loan data of the financial assistance provided through traditional loan program lending as well as aid provided via the CARES Act. Loans guaranteed through traditional SBA-backed lending programs exceeded $28 billion; however, enactment of the CARES Act dramatically increased loan volume guaranteed by the Agency:…