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Tag: small

The Small Business Administration is set to triple loan amounts for businesses hurt by Covid

Finance
A small business owner in Chinatown, San FranciscoSource: CNBCBeginning April 6, small businesses and non-profits can apply for up to 24 months of relief, with a maximum loan amount of $ 500,000, the Small Business Administration announced Wednesday.The previous limit for such businesses was six months, with a maximum loan amount of $ 150,000."More than 3.7 million businesses employing more than 20 million people have found financial relief through SBA's Economic Injury Disaster Loans, which provide low-interest emergency working capital to help save their businesses," SBA Administrator Isabella Casillas Guzman said in a statement. "However, the pandemic has lasted longer than expected, and they need larger loans."More from Invest in You:Suze Orman: Don't invest your stimulus checks. Her...
Biden, Yellen say GOP virus aid too small, Democrats push on

Biden, Yellen say GOP virus aid too small, Democrats push on

Health
WASHINGTON -- President Joe Biden told Senate Democrats on a private call Tuesday that a Republican alternative to his $ 1.9 trillion COVID rescue plan is insufficient as he urged lawmakers to boldly and swiftly confront the coronavirus pandemic and economic crisis.Biden and Treasury Secretary Janet Yellen joined senators for the virtual meeting, both declaring the Republicans' $ 618 billion offer was too small. As the White House reaches for a bipartisan bill, Democrats voted Tuesday to start a process for approving Biden's bill on their own, with or without GOP support. The goal is passage by March.“We are not going to dilute, dither or delay,” Senate Majority Leader Chuck Schumer said. “The needs of the American people are just too great.”The swift action from Democrats on Cap...

Government’s move to relax FDI limit for insurance a big boost for small insurers

Finance
MUMBAI: India’s move to further liberalize limits for insurance companies raising capital from foreign players will provide a major boost to dozens of insurers in the way of fresh fund-raising avenues while paving way for top global insurers to enter India’s highly underpenetrated insurance sector. After years of deliberation, the Indian government has increased the Foreign Direct Investment (FDI) limit in insurance companies to 74% against the current 49%, Finance Minister Nirmala Sitharaman announced on Monday in the Union Budget of 21-22 albeit some “safeguards”. Prominent industry CEOs and experts claim that the move will provide a fillip to an industry which has not lived up to expectations in providing coverage to a large chunk of the country's over 130 crore population over the la...
Insurers must pay small firms for Covid lockdown losses

Insurers must pay small firms for Covid lockdown losses

Business
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Air Force tests collaborative small diameter bombs

Air Force tests collaborative small diameter bombs

Business
Jan. 7 (UPI) -- The Air Force Golden Horde Vanguard program has completed the first flight demonstration of collaborative small diameter bombs, the Air Force announced. According to the service, a team from the Air Force Test Center flew an F-16 Fighting Falcon and released two collaborative small diameter bombs during a mid-December test. Advertisement Collaborative small diameter bombs are small diameter bombs that have been modified with a collaborative network system that allows them to work together to identify targets. "The Golden Horde demonstration with the Small Diameter Bomb flights is an important step on the path to Networked Collaborative Weapon systems. Completion of this first mission sets the stage for further development and transition to the warfighter," Chris Ristich, A...