small business loans

BIDEN OPENS NEW FUNDING ROUND FOR SMALL BUSINESSES WITH UNDER 20 EMPLOYEES AND SELF-EMPLOYED WORKERS: 2-WEEK APPLICATION PERIOD STARTS FEB. 24

By Miriam Raftery

Photo: CC-NC-ND

February 24, 2021 (Washington D.C.) – President Joe Biden has announced major actions and new funding to help bring pandemic relief to small businesses with less than 20 workers,  sole proprietors,  independent contractors and minority-owned enterprises.

Starting today and for the next 14 days, only businesses with less than 20 employees can apply for Paycheck Protection Program (PPP) loans, which don’t have to be repaid provided 60% of the loan is spent on payroll and the rest on other qualified expenses. This opportunity will cover 98% of all small businesses in America.

The White House is also revamping guidelines to make more business owners eligible, including those with student loan debts and business owners who are legal residents but not citizens.


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FEDERAL LOANS AVAILABLE TO HELP SMALL BUSINESSES AFFECTED BY CIVIL UNREST

By Miriam Raftery
 
July 31, 2020 (San Diego) -- Low-interest federal disaster loans are available to help small businesses across San Diego County that were affected by civil unrest which began May 26, 2020, if they do not have the financial ability to offset the adverse impact without hardship.

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WELLS FARGO COMMITS TO LEND $55 BILLION TO WOMEN-OWNED BUSINESSES BY 2020

 

Angels of Hope, serving Chaldean and Arabic communities in El Cajon, is among recent loan recipients fulfilling a dream

April 8, 2013 (El Cajon)—An El Cajon woman’s goal of providing trauma counseling to refugees in East County has been fulfilled, thanks to Wells Fargo & Company. Wells Fargo, a leading lender to women- and diverse-owned businesses, recently announced a commitment to lend $55 billion to woman-owned businesses in the U.S. by 2020.

As part of that commitment, the company has provided a commercial real estate loan for licensed clinical social worker Bernadette Talia to purchase office space in El Cajon to house her new Angels of Hope Counseling practice. 

Talia, who is trilingual and specializes in trauma counseling, is fulfilling a vast need in the East County community, as  many residents are refugees from the Middle East and have suffered traumatic life experiences. Now she will be able to provide affordable counseling and services to individuals and families. Talia’s goal isn’t to just reach the approximate 30,000 Chaldean’s living in El Cajon, but to the whole Arabic speaking community, treating their specific mental health needs.


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Local news in the public interest is more important now than ever, during the COVID-19 crisis. Our reporters, as essential workers, are dedicated to keeping you informed, even though we’ve had to cancel fundraising events. Please give the gift of community journalism by donating at https://www.eastcountymedia.org/donate.

LOCAL SMALL BUSINESSES BENEFIT FROM NEW SMALL BUSINESS JOBS

 

East County News Service

 

October 9, 2010 (Washington, DC)  – Just over a week after the President signed the Small Business Jobs and Credit Act,  HR 5297, close to 2,000 small businesses have been approved for SBA-backed loans.  Nearly $1 billion total will soon go to these small businesses. Locally, at least three business owners have already been approved since the new law went into effect.


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Local news in the public interest is more important now than ever, during the COVID-19 crisis. Our reporters, as essential workers, are dedicated to keeping you informed, even though we’ve had to cancel fundraising events. Please give the gift of community journalism by donating at https://www.eastcountymedia.org/donate.

CONGRESSMAN FILNER ANNOUNCES NEW SMALL BUSINESSES LENDING PROGRAM

June 15, 2009 (Washington D.C.) – Many local small businesses will soon be eligible for interest-free loans under a new program created by the American Recovery and Reinvestment Act (ARRA), Congressman Bob Filner (D-San Diego) announced today.

 


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Local news in the public interest is more important now than ever, during the COVID-19 crisis. Our reporters, as essential workers, are dedicated to keeping you informed, even though we’ve had to cancel fundraising events. Please give the gift of community journalism by donating at https://www.eastcountymedia.org/donate.