New York City Mayor Eric Adams announced a new $75 million loan program that will allow small business owners to apply for loans ranging from $2,000 to $250,000 with a fixed interest rate of 4%, regardless of loan size. The program will aim to serve 1,500 participants throughout the city.
Despite ongoing controversy, recently elected Rep. George Santos was assigned to serve on two House committees, including one focused on small business. Santos has refused to resign despite making several false statements about his past experience.
Source: Business Insider
Consumer discrimination against Asian American-owned small businesses continues to rise per a new research report. The reasons for this include politicians and media outlets spreading stigmatizing language and images after the Covid-19 pandemic.
Source: University of Michigan
An experienced tax attorney can assist any company in navigating various legal and financial challenges. That includes dealing with potential IRS audits, dealing with new regulations, and handling business assets.
Companies seeking pandemic relief funding can take advantage of new initiatives recently launched in several states. Those include opportunities in Alaska, Alabama, Michigan, and Texas.
Source: Small Business Trends