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New round of SBA funding targets small business, but benefits all

The latest MetLife and U.S. Chamber of Commerce Small Business Index Survey confirms that small businesses remain concerned about the ongoing impacts of COVID-19. According to the study, “More than three in five (62 percent) small business owners believe the worst of the COVID-19 pandemic is ahead of us.

“With many anticipating worse times, it’s not surprising many small businesses see the need for temporary, targeted government assistance. Nearly three-quarters (74 percent) say additional federal relief funds would be important to their business’s ability to succeed in 2021.”

Fortunately, the “Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act,” was signed into law as part of a broader stimulus bill related to the ongoing COVID-19 emergency. The bill reopens the lending window for forgivable U.S. Small Business Administration Paycheck Protection Program loans through March 31, 2021, and allocates an approximate additional $284 billion to enable the hardest-hi...

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