Earvin “Magic” Johnson said his EquiTrust Life Insurance Co. will provide $100 million in capital to fund loans through the Small Business Administration’s Paycheck Protection Program.
Source: The Wall Street Journal
The terms appeared to ease a requirement that businesses rehire a certain percentage of their employees in order to obtain forgiveness. This comes after many weeks of concern from recipients of the PPP loan about converting their loans to grants successfully when business is not back to usual.
Source: The New York Times
The first program provides $2,500 grants to small businesses with 20 or fewer full-time-equivalent employees, the second program is called “Ethnic Minority Emergency Grants” and will provide $2 million in grants for ethnically diverse Wisconsin micro-businesses that suffered losses due to the pandemic.
Source: The Milwaukee Business Journal
Businesses with five or fewer employees in urban renewal areas of Oklahoma City are eligible to receive a $10,000 grant. The program has $400,000 in funds available for businesses that fit the description.
Source: News 9
Businesses can feature items in their shops, advertise them to users, and communicate with customers through the company’s messaging services. Shops will eventually be integrated across Facebook’s apps, including WhatsApp and Messenger.