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
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
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
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.
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