(JUST RELEASED)PPP Loan EIDL Small Business Grants Update State Pay $500 Million Eligible Businesses

Here’s your Cares Act funds Providing Stimulus through PPP loan, EIDL, and Small Business Grant Update for Wednesday, December 2nd, 2020

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The SBA recently released the PPP loan amounts and recipients for all PPP loan and EIDL claimants.

Among the data, some interesting findings were revealed.

The report shows: “Over 25 PPP loans worth more than $3.65 million were given to businesses with addresses at Trump and Kushner real estate properties.”

It also found that more than: “100 loans were made to companies where no business name was listed, were listed as “no name available” or showed potential data entry errors, such as names that appeared to be dates or phone numbers.”

The SBA touted the release of loan information as a positive, explaining: “SBA’s historically successful relief loan programs have helped millions of small businesses and tens of millions of American workers when they needed it most.”

While there was obviously some pretty blatant fraud going on with these SBA disaster relief programs, they did help millions of small businesses across America secure some much needed fiscal support earlier in the year.

Meanwhile, the great state of Michigan has announced a $10 million initiative to provide small business grants to eligible, struggling companies in the Great Lakes State.

The Michigan Economic Development Corporation will be handing out $15,000 small business grants, which could help keep the doors open as we ride out the rest of this crazy 2020.

Mark Burton, MEDC chief executive officer, explained: “When the governor issued her most recent order … we knew this was the moment for us to step up and provide some much-needed relief.”

At least 666 small businesses will be able to claim these free grants, and could be a lifeline to struggling Michiganders heading into the new year.

Finally, the great state of California has announced a massive, $500 million small business grant program for: “additional temporary tax relief for eligible impacted businesses.”

Governor Gavin Newsome announced the efforts, which will offer small business grants of up to $25,000 to: “underserved micro and small businesses throughout the state by early 2021.”

This is amazing news, and I hope that all of my friends, viewers, and loved ones living in the Golden State can receive these small business grants and tax exemptions to help weather the rest of this stormy year.

Source: https://www.nbcnews.com/business/business-news/release-ppp-loan-recipients-data-reveals-troubling-patterns-n1249629

https://www.mlive.com/public-interest/2020/11/michigan-unveils-15000-small-business-grants-but-those-violating-covid-orders-are-ineligible.html

https://www.turnto23.com/rebound/newsom-announces-temporary-tax-relief-500-million-in-grants-for-small-businesses

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