The Paycheck Protection Program (PPP), enacted to help small- to medium-sized businesses (SMBs) retain employees during the pandemic, was able to save around 2.3 million jobs through early June, Reuters reported, citing a paper co-written by economists at the Federal Reserve Board of Governors, Massachusetts...
It would be much easier to name all the segments not hit hard by COVID-19 and the subsequent economic chaos it has unleashed than it would be to name all those that have been. But as is often the case during times of economic turbulence, the costs are...
The global pandemic’s emergence radically shifted the entire small- to medium-sized business (SMB) landscape almost overnight in terms of digitizing operations, according to Alex Burgin, vice president at Authorize.Net (a Visa solution), and Kirsten Potenza, CEO and founder of POUND – Rockout. Workout. The pair...
Cash flow is the lifeblood of Main Street small business. Under COVID-19 cash flow dried up almost overnight, triggering what’s starting to look like a kind of mass extinction of small and medium-sized businesses (SMBs). To understand and solve for the cash flow crunch on...
Main Street small- to medium-sized businesses (SMBs) are a barometer for the economic vitality and the health of the broader U.S. economy. After all, a bustling Main Street signals new business opportunities and growth potential. It was this type of local economy that defined most...
A new law could make it easier for businesses to file for Chapter 11 bankruptcy and remain open, with more leverage for small businesses and easier ways to force negotiations with suppliers and landlords, The Wall Street Journal (WSJ) reported. The laws around Chapter 11...
Wells Fargo has come up with details of how it will donate the $400 million in processing fees that it raked in from the U.S. Paycheck Protection Program. In a press release, the company said it would use its new Open for Business Fund “to engage...
And now: Stimulus funding as a tool for public shaming. Depending on how you look at it, the fact that roughly $130 billion is left under the Paycheck Protection Program (PPP) is a testament to either the program’s success or failure. Maybe the small- to...
Small- and medium-sized businesses have been hit hard by the pandemic, but most are scrambling into digital pivots to blunt the impact of physical stores’ shutdowns, Colleen Taylor, executive vice president and head of merchant services at Wells Fargo, told Karen Webster during a recent...
