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Bobcat Bonnie s owner files suit against SBA over unpaid Restaurant Revitalization Fund award

Bobcat Bonnie s owner files suit against SBA over unpaid Restaurant Revitalization Fund award
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Federal Reserve Bank of Cleveland sees unequal Paycheck Protection Program loan distribution in LMI areas

Tariq Tarey Angelique Patton and Michelle Williams, owner and assistant director of On Trac LLC, a Cleveland commercial cleaning company and client of the Economic Community Development Institute, which provided a Paycheck Protection Program loan to the business. Loans provided through the Small Business Administration s Paycheck Protection Program did not penetrate low- and moderate-income communities quite the same as higher-income areas, according to new research this week from the Federal Reserve Bank of Cleveland. Equal participation in the job-protecting stimulus program among LMI areas and minorities who tend to be more prevalent in LMI communities has long been a concern of lending advocates, as Crain s explored in this piece last summer.

Scientology PPP Loans: Religion Took in More Than $10 Million

Austin live music, performing arts venues apply for COVID-19 relief

WASHINGTON The arts in Austin, from the performing arts and live music clubs to at least one museum, are poised to get relief from the pandemic that has left the cultural world without audiences or much income. A new $16 billion federal grant program swung into gear last week, nearly a month after an initial start was derailed when the system crashed on the day it opened. “Things are in a very good place now,” Elisbeth Challener, managing director of Zach Theatre, said of the restart. “Fingers and toes crossed.” The Zach is applying for $2.6 million in funding after having had to lay off or furlough more than 80% of its staff and seeing a 60% decline in revenue in 2020, compared with 2019.

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