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Good news for small businesses as Senate passes PPP reform bill

Good news for small businesses as Senate passes PPP reform bill

Finance
Business owners who received a forgivable loan through the Paycheck Protection Program are likely getting more leeway on how to spend those funds.  The Senate passed legislation Wednesday night that restructures how entrepreneurs can use loans issued through a new federal relief program for small businesses ailing from the economic contagion unleashed by the coronavirus pandemic. Many business owners have called on Congress to update the Paycheck Protection Program as they struggle to meet its terms and fear they may be forced to take on debt even as their businesses haven't fully recovered.The bill, the Paycheck Protection Program Flexibility Act of 2020, now heads to President Donald Trump's desk for his signature. The House passed the legislation last week. The ...
House bill gives small businesses more time to use PPP loans and lets them spend less on payroll

House bill gives small businesses more time to use PPP loans and lets them spend less on payroll

Finance
Wine store employees catalog a new shipment of alcohol on May 28, 2020 in New York City. Government guidelines encourage wearing a mask in public with strong social distancing in effect as all 50 states in the USA have begun a gradual process to slowly reopen after weeks of stay-at-home measures to slow the spread of COVID-19. (Photo by Alexi Rosenfeld/Getty Images)Alexi RosenfeldA bill that passed yesterday in the House of Representatives has some sought-after changes to a forgivable loan program for small-business owners.The new legislation, the Paycheck Protection Program Flexibility Act, addresses entrepreneurs' concerns around loan forgiveness, one of the main attractions of the Paycheck Protection Program. It passed the House on Thursday in a 417-1 vote.Some loan recipients, lik...
Sunak unveils 100% state-backed loans for small firms

Sunak unveils 100% state-backed loans for small firms

Business
Media playback is unsupported on your device Small firms are to get access to 100% taxpayer-backed loans after they raised concerns about slow access to existing coronavirus rescue schemes.Chancellor Rishi Sunak told the House of Commons the scheme would start next week, offering firms loans up to £50,000 within days of applying.It aims to unlock a backlog of credit checks by banks amid fears many small firms could fold before getting loans.The scheme requires filling in a two-page self-certification form online.The loan terms mean that no capital or interest repayments will be due for one year. Instead, the government will pay the interest for the first 12 months.Banks have come under fire for delays in handing out loans, but have blamed the
Wireless network helps scientists track small animals

Wireless network helps scientists track small animals

Science
April 2 (UPI) -- Researchers have developed a wireless network capable of tracking small animals tagged with sensors. The new technology -- described Thursday in the journal PLOS Biology -- could help scientists compile tracking data for local populations of small animals without relying on heavy transmitters and satellite communication systems. Automated tracking methods have made it much easier for scientists to study the behavior and migration patterns of animals species, but monitoring smaller animals still presents problems. Many tracking sensors are too heavy for smaller bird and mammal species, which account for the majority of the animal kingdom. Additionally, the use of satellite communication systems for the retrieval of local tracking data requires significant amounts of energ...
Bayern Munich players to return to training in ‘small groups’ on Monday for first time since Bundesliga was suspended, German champions confirm

Bayern Munich players to return to training in ‘small groups’ on Monday for first time since Bundesliga was suspended, German champions confirm

Sports
Bayern Munich players are set to return to training for the first time since the Bundesliga was suspended on March 13. The German top flight recommended clubs should not train until Sunday, April 5 and the division pace-setters will welcome back players in small groups from Monday. Bayern Munich players will return to training on Monday A club statement read: “The FC Bayern Munich first team will return to training in small groups from Monday, 6 April. “This will be done in coordination with government policy and the relevant authorities. It goes without saying that all hygiene regulations will be strictly observed. “Training will take place with no members of the public present. Giving COVID-19 the red card The quicker we w