Tag: small business

PPP loan program extended two months for small businesses

President Joe Biden is expected to sign into law an extension to the Small Business Administration’s Paycheck Protection Program (PPP) approved by Congress just a week before it was slated to expire.  The new deadline for applications to be submitted...

Larger Loans And Other Changes to PPP Rules For Sole Proprietors And Independent Contractors

New rules to the Paycheck Protection Program (“PPP”) were announced that raised loan limits for sole proprietors and independent contractors. In an Interim Final Rule announcement on Wednesday, March 3, 2021, the SBA issued new rules which provided a number of...

Two new relief programs open to Michigan small businesses hurt by pandemic

The state of Michigan has authorized a $58.5 million grant program for businesses hurt by the 2020 pandemic, split into two separate programs: Michigan Small Business Survival Grant Program, a $55 million program with grants of up to $20,000 to help...

New COVID-19 relief grants coming for Michigan small businesses

Michigan small businesses in designated industries will soon have access to another $10 million in pandemic relief funding, with the new Pure Michigan Small Business Relief Initiative announced by the Michigan Economic Development Corporation. Grant funds of up to $15,000...

UPDATED PPP essentials for small business owners: Qualifying Expenses, Forgiveness, and Recent Changes

It’s been several months now since many small business owners have received and spent their Paycheck Protection Program (PPP) loan awards, and many businesses are now ready to start the forgiveness process.  But SBA rules and legislation have significantly changed...

New grant helps Michigan businesses operate safely

With employers across the state working to keep their employees, customers and communities safe during the COVID-19 pandemic, the State of Michigan has launched Michigan COVID-19 Safety Grant Program. These grants will provide small businesses matching funds – up to $10,000...

Michigan relief programs for businesses and individuals affected by COVID-19 are now open

Michigan business owners and residents suffering from the economic effects of the coronavirus pandemic can expect to see more targeted relief programs, as CARES Act funds filter into the state for local administration and development organizations create geographically-specific grants.  ...

Our CPAs’ advice for small and scaling business owners weathering the pandemic

In times of economic turbulence, a certified public accountant (CPA) can help small and scaling business owners prepare financially for what's ahead.  At ShindelRock, our CPAs have been monitoring the near-hourly changes the COVID-19 pandemic has brought to the tax,...

MEDC offers Michigan businesses relief with $20 million grant and loan program

The Michigan Small Business Relief Program will provide up to $20 million in support for small businesses negatively impacted by COVID-19. The funding is divided between $10 million in small business grants and $10 million in small business loans to...

Economic Injury Disaster Loan applications are OPEN in Michigan

The Economic Injury Disaster Loan (EIDL) is a low-interest, fixed-rate loan that can provide up to $2 million in assistance for a small business. You can apply directly on the U.S. Small Business Administration's Disaster Loan Website.