Why are Pa. and N.J. Receiving Fewer PPP Coronavirus Loans? The New York Fed Investigates

Some of the severely affected states such as New York, New Jersey, Michigan, and Pennsylvania are getting fewer PPP loans than some Mountain and Midwest states on a per-small-business basis, according to a new report.

Source: The Philadelphia Inquirer



Two Men Were Arrested in the First Fraud Case for the PPP Loan Meant for Small Businesses Hurt by Coronavirus

The men claimed to have dozens of employees at several different locations. Federal investigators discovered that there were no employees working at any of the businesses claimed on the PPP loan.

Source: USA Today



Coronavirus Relief From Community Banks Saving Small Businesses

Many business owners found great success with the second round of relief loans by patronizing community banks. People interviewed kept emphasizing that they felt like they were the priority at these institutions.

Source: Fox News



Small Business Help Not Flowing To Hardest-Hit Areas In Coronavirus Crisis

Existing relationships between lenders and borrowers are helping some geographic areas get ahead in terms of loan approvals despite not being at the top of viral hotspots.

Source: Forbes



Charlotte City Council Moving Toward $50M Small-Business Recovery Plan

Currently, $35 million is allocated to the city’s small business recovery but another $15 million will be added to this and will be available September 30th.

Source: Charlotte Business Journal