Posted on 02/22/2021 2:34:57 AM PST by Oldeconomybuyer
U.S. President Joe Biden will launch changes on Monday to the main U.S. coronavirus aid program for small businesses to try to reach smaller, minority-owned firms and sole proprietors left behind in previous rounds of aid.
The changes, to be formally announced by Biden on Monday, come as small business bankers say demand for Paycheck Protection loans is slowing as firms reopen.
The officials said the program will also set aside $1 billion for businesses without employees in low- and moderate-income areas, which are 70% owned by women and people of color.
The SBA will provide new guidance making it clear that legal U.S. residents who are not citizens, such as green card holders, cannot be excluded from the program. The Biden Administration will also eliminate exclusions that prohibit a business owner who is delinquent on student loans from participating in the program.
Business owners with non-fraud felony arrests or convictions in the previous year are excluded from the program, but Biden administration officials said they will adopt bipartisan Senate proposals to remove this restriction -- unless the applicant is currently incarcerated.
(Excerpt) Read more at reuters.com ...
WooHoo! Sowing the seeds for the next global financial crisis. The sooner the corrupt, fraudulent System crashes the better.
Business owners with non-fraud felony arrests or convictions in the previous year are excluded from the program, but Biden administration officials said they will adopt bipartisan Senate proposals to remove this restriction — unless the applicant is currently incarcerated.
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Congress recognizes its fellow travelers in fraud and theft.
I know a number of women and minority owned businesses that have gone belly up this year.
A loan won’t do them a damn bit of good.
Dem Rep. Ro Khanna: 'We Don't Want' Small Businesses That Can't Pay $15/Hour Minimum Wage in America
Trump, you ought to be spitting mad about this.
Racist policies by racist democrats.
Saw it coming, didn’t you? Meaning your loan application that asks you your ethnicity will be your loan denied reason of coarse it will show you are not eligible because you don’t meet the requirements. More reparations!
This is a good time for white folks to discover their Native American heritage (we’ve all got some, ya know).
“I know a number of women and minority owned businesses that have gone belly up this year.
A loan won’t do them a damn bit of good.”
It’s too late for so many. The damage from the lockdowns is done.
The damage is already done.
Changing the rules now helps very few.
It’ll help the few that get this money.
But that’s not the people they’re claiming they want to help.
And last I checked, there’s still a TRILLION from the last WuFlu stimulus still left unspent.
I wonder where that will go when nobody’s looking.
Translation, free money with no requirement to pay back.
I did a DNA test and to my surprise discovered I was 6.5% Chinese. Wonder if I can get a deal,?
In one of the financial literacy groups I belong to, the banks are making it extremely difficult to obtain the second round. Many are having to apply to multiple banks to try to get approved and this is after having the first round forgiven. It is ‘free money’ if you follow the rules, the PPP is forgiven! Many are finding this second round more confounding than the first round where they kept changing the rules/guidelines.
What congress is saying the goal is, isn’t how the banks and lenders interpret the legislation. This is leading to many small business owners just throwing in the towel and say it’s not worth the hassle to spend 60-80 hours jumping through the hoops.
And with the impending $15 per hour change coming with this next round...and leaders saying if your cannot meet that...you shouldn’t own a business...? It might just be much wiser to unwind your business.
I live in NYS. Upstate. We’re an economic wasteland. Small businesses have been dropping like flies. And even some of the big boys can’t make a go of it here.
Well, the rest of the nation can’t claim it wasn’t warned.
You don’t need a DNA test.
Self-identify.
Pick whatever the flavor of the month is.
Sounds like discrimination to me.
Racists
That will help CA businesses pay the annual LLC fee of $800
The Bitme admin has already declared that everyone has an inherent right to self-identify as a black, trans, women (trifecta) and it is a violation of one’s civil rights to deny that self declaration.
you surely haven’t the right to your vote however
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