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Showing 11 posts tagged small business.

Federal Reserve Announces Expansion of Main Street Lending Program

The Federal Reserve expanded the Main Street Lending Program on Monday, June 8, 2020. The expansion allows for more small and medium-sized businesses to receive support during the COVID-19 pandemic. The Main Street Lending Program was established to support lending to businesses who were in sound financial condition before the pandemic began. More >

Payroll Protection Program Flexibility Act provides some latitude with loans

The Payroll Protection Program Flexibility Act (PPPFA) was signed into law on June 5, 2020. The Act is intended to address several concerns expressed by stakeholders regarding the Payroll Protection Program (PPP) that was introduced as a part of the Coronavirus Aid, Relief, and Economic Security Act passed on March 27, 2020. More >

Payroll Protection Program Loan Forgiveness Applications Now Available

The United States Small Business Administration (SBA) has made the applications for Payroll Protection Program (PPP) loan forgiveness available on their website.

Businesses who obtained PPP loans as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act are eligible to have those loans forgiven in full if used within an eight-week period for a specific set of payroll and business needs. More >

New Program Provides Relief for Mid-Size Businesses (and Small Businesses, too!)

Posted In CARES Act, Corporate

With the expansion of Small Business Administration loans available under the CARES Act – the Paycheck Protection Program and expanded EIDL program – many small business owners sought and found much-needed relief, but mid-size businesses were excluded from these programs by virtue of their size. The Federal Reserve and the Treasury Department have now revised the Main Street Lending Program, which includes mid-size employers. This program is effective immediately and runs through September 30th, providing up to $600 billion in loans. We’ve summarized the key points, available below: More >

The CARES Act – What You Need to Know about Relief Now Available for Businesses

With the passage of the Coronavirus Aid, Relief and Economic Security Act, or CARES Act, businesses received a dose of much-needed relief in the form of tax payment deferrals and loan programs. In this post, we’ll take a look at both the previously established EIDL Program and the Paycheck Protection Program. More >

Businesses – Loans and Tax Relief for the COVID-19 Crisis Are Available

After the passage of the CARES Act stimulus package, there are more than a few current items of relief available to businesses impacted by the crisis, outlined below. More >

Five Legal Considerations for Starting a Small Business: Which Type of Entity is Best?

You started your small business yourself – just you and an idea. As time went on, you became more successful. You added employees. You opened a storefront. You started contracting with outside vendors. And while each of these events took place, you added additional liability – liability that could harm you personally as a sole proprietor. That’s exactly why business entities exist; they create a sustainable structure in which to operate while simultaneously shielding you personally from liability, for the most part. Not all business entities are created equal, however, and choosing an entity to organize or incorporate can come with both benefits and consequences. More >

Small Business Law Every Business Owner Needs to Know

Small businesses have a tremendous impact on the U.S. economy, providing 55% of all jobs and 54% of all U.S. sales, according to the Small Business Administration. With such an impact, it’s easy to think that these businesses are subject to less regulation and legal hurdles. Instead, the reality is that small businesses are subject to the same complex tangle of regulation that other businesses face for the most part, but they are often less-equipped to negotiate it. With that in mind, here are four types of laws that small business owners must consider during operation of their businesses. More >

Five Reasons to Consult an Attorney for Your Small Business

Couple with Open Sign

Starting a small business can be difficult. It requires a tremendous amount of passion and dedication, as well as some assistance from professionals such as accountants, insurance agents and others. While you may not need an attorney in the same measure, consulting one at the outset of the business and periodically throughout can get you off to a good start and keep you from falling into common legal traps. Here are five reasons you should consult with an attorney that will greatly benefit your small business. More >

The Office of Entrepreneurship Is Thriving In Its First Year - Can It Help You?

Just over a year ago, on July 22, 2013, Governor Beshear announced the creation of the Office of Entrepreneurship ("the Office") within the Cabinet's Department for Business Development. Since its inception, the overall goal of the Office has been to develop an entrepreneurial climate for new talent in Kentucky; provide guidance and support to start-up operations; assist existing small businesses with growth opportunities; and create a pipeline of business activity that can be streamlined with the traditional growth opportunities the Cabinet already offers. More >

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