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American Rescue Plan Act Expands PPP Eligibility - Modifies Loan Forgiveness and Adds Funding for Online Publishers, Restaurants and Shuttered Venues Tuesday, March 16, 2021
President Biden recently signed the American Rescue Plan Act of 2021, which adds an additional $15 billion in new funding for Economic Injury Disaster Loan grants, expands PPP for nonprofit organizations, online news publishers, restaurants, shuttered venues and modifies loan forgiveness rules.
Nonprofit Organizations
501(c) entities, other than 501(c)(3), (4), (6) or (19), that are exempt from taxation under 501(a) (“Additional Nonprofits”) are eligible to receive first draw PPP loans if Additional Nonprofits:
Employ no more than 300 employees per physical location;
Are you ready for the latest good news and bad news regarding your federal income taxes?
Today, we have a little bit of both. But it depends on your level of income, whether or not you received unemployment benefits last year and whether or not youâve already filed your federal income tax return for 2020.
To put it in a nutshell: The $1.9 trillion stimulus bill President Joe Biden signed into law Thursday retroactively changed the rules regarding taxation of unemployment benefits. And that could mean youâll be getting a larger tax refund (or a lower tax bill), potentially to the tune of thousands.
Banking is evolving, but customer service still vital By: Kathryn McNutt The Journal Record March 12, 2021
In this screen capture, banking and financial experts Becky Fields and Stephen Curry join JR Interim Editor Joe Dowd in a discussion Friday about trends in the industry.
Banking has been evolving digitally since the 1980s, but many people would be surprised to know there was nearly $1 trillion in digital banks in the U.S. by the end of 2019, Stephen Curry, chief executive officer at Endurance Advisory Partners in Tulsa, said Friday.
“By the end of this year, there will be close to $2 trillion in banks that have digital online account-opening capabilities,” Curry said during Friday’s regular episode of JR/Now, hosted by
Some community banks, including Commercial Bank of Texas, are working closely with business owners when applying for a second round of Paycheck Protection Program (PPP) loans. How they go about it may differ.
CHICAGO (WLS) A new effort has been spearheaded by Congressman Mike Quigley (D-IL 5) to help the owners of fitness centers who have been struggling during the pandemic.
Challenges for gym owners during the pandemic have been intense. Sean Armstead, who owns Phenomenal Fitness, said at worst business was down 60% when they could be open. Then there were the three months when all gyms and fitness centers were fully shut down.
Gyms were also shut out of any substantial federal financial assistance, Armstead said. I m really disappointed at my bank, the way they haven t supported us with PPP, and we ve been with them for more than two decades but there have been other people, clients have stepped up, he said.