Search Results for agency_names:"Small Business Administration"

The U.S. Small Business Administration has issued a notice amending the Presidential disaster declaration for California due to wildfires and straight-line winds, initially declared on January 8, 2025. This amendment extends the deadline for filing applications for physical damage loans to March 31, 2025, while the deadline for Economic Injury Disaster Loans (EIDL) is set for October 8, 2025. Those affected can apply for disaster assistance loans online via the MySBA Loan Portal. All other details from the original declaration remain unchanged.

On November 26, 2024, the U.S. Small Business Administration declared a disaster in the State of New York due to severe storms and flooding that occurred from August 18 to August 19, 2024. Disaster loans can be applied for online through the MySBA Loan Portal, and applications for physical damage loans have a deadline of January 27, 2025, while economic injury loans can be applied for until August 26, 2025. Suffolk County is the primary area affected, with Nassau County also impacted. The declaration assigns specific numbers for tracking physical and economic injury damages for the affected areas.

The Small Business Administration (SBA) has officially nullified the small business investment company license previously issued to Brookside Mezzanine Fund II, L.P. This action follows the authority provided under section 309 of the Small Business Investment Act of 1958 and specific federal regulations. As a result, Brookside Mezzanine Fund II, L.P. will no longer function under the SBA's small business investment company framework.

The U.S. Small Business Administration (SBA), in collaboration with the Department of the Treasury, issued an interim final rule implementing amendments from the Economic Aid Act to the Paycheck Protection Program (PPP). The rule extends the PPP, a program designed to provide financial aid to small businesses impacted by COVID-19, allowing them to apply for loans through March 31, 2021. It also includes updated guidelines for loan forgiveness, borrower and lender eligibility, and how loans can be used, with new rules for calculating maximum loan amounts and requirements for loan forgiveness applications. The Economic Aid Act amendments aim to streamline the application process and ensure fair access to the program for all eligible borrowers.

The Small Business Administration (SBA) has announced a meeting of the Advisory Committee on Veterans Business Affairs (ACVBA) scheduled for March 4, 2021, from 9:00 a.m. to 3:30 p.m. EST. Due to the pandemic, the meeting will be held virtually via Microsoft Teams. The meeting is open to the public, but attendees are encouraged to RSVP by emailing veteransbusiness@sba.gov. The purpose of the meeting is to discuss support for veteran-owned small businesses, review past and current initiatives, and outline the ACVBA's objectives for 2021.

The Small Business Administration has issued a notice regarding the Presidential declaration of a major disaster in Missouri, focusing on public assistance due to severe storms, tornadoes, straight-line winds, and flooding. This declaration allows private non-profit organizations providing essential government-like services to apply for disaster loans online. The affected areas include several counties such as Carter, Crawford, and Howell, among others. Physical loan applications are due by March 3, 2025, and economic injury loan applications are due by October 1, 2025.

The interim final rule from the U.S. Small Business Administration (SBA) and the Department of the Treasury outlines updates to the Paycheck Protection Program (PPP) loan forgiveness and review procedures, incorporating changes mandated by the Economic Aid Act. This includes guidelines for forgiving loans from both the first and second draw of PPP loans and addressing necessary documentation and processes for loan forgiveness. Key updates include the extension of the program, new rules regarding nonpayroll costs, and exemptions for certain borrowers. The rule aims to provide immediate relief to small businesses impacted by the COVID-19 pandemic and allows the SBA to continue remitting forgiveness payments promptly.

The U.S. Small Business Administration announced an amendment to the Presidential disaster declaration for Florida, specifically addressing Hurricane Helene. This amendment, part of FEMA-4828-DR, covers public assistance and includes Clay and Hillsborough counties as affected areas. The document highlights key dates for loan applications, including a December 4, 2024 deadline for physical loan applications and a July 7, 2025 deadline for Economic Injury Disaster Loans (EIDL). All original details of the disaster declaration remain unchanged.

The U.S. Small Business Administration (SBA) has proposed new rules to improve the Small Business Subcontracting Program. These changes aim to ensure small business subcontractors get paid faster and make it easier to report subcontracting activities. Prime contractors would need to inform contracting officers if they fail to pay subcontractors on time and work with them to fix such issues. The new rules also involve simplifying subcontracting reporting, clarifying how to assign size classifications to subcontractors, and expanding the authority of who can sign Subcontracting Summary Reports (SSRs).

The U.S. Small Business Administration has issued a notice about the Presidential declaration of a major disaster for the Native Village of Kwigillingok, due to severe storms and flooding that occurred from August 15 to August 18, 2024. This declaration allows Private Non-Profit organizations providing government-like services to apply for disaster assistance loans through the MySBA Loan Portal. The deadline for physical loan applications is March 11, 2025, and for economic injury loan applications, it's October 10, 2025. For more information, affected parties can contact Alan Escobar at the SBA or visit the provided SBA loan application website.