Jobless Claims Hit Pandemic Low

Notwithstanding the expanding spread of the COVID Delta variant and the ongoing difficulties with getting the economy completely opened up again – let alone the continuing labor shortage – first-time unemployment claims dropped last week to 340,000, the lowest level since the pandemic hit in March of 2020. This Department of Labor (DOL) report comes…

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Governor Expands New York Recovery Grant Program

Newly installed New York Governor Kathy Hochul announced this week that she was expanding the eligibility to the state $800 million small business recovery grant program to allow businesses with 2019 revenues up to $2.5 million to qualify for the grant program. The Pandemic Business Recovery Initiative, which was initiated under former Governor Andrew Cuomo,…

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Mass. Governor Proposes $1B in UI Relief

Last week, Massachusetts Governor Charlie Baker proposed a supplemental budget that would utilize $1 Billion in federal pandemic relief funds to replenish the state Unemployment Insurance Trust Fund. During the height of the coronavirus pandemic with its accompanying layoffs, shutdowns and business closures, the Unemployment Insurance Trust Fund, funded by a payroll tax on employers,…

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New York State Picking Up the Slack

While the Restaurant Revitalization Fund (RRF) languishes in Washington DC, the state of New York is moving forward with its own small business grant program and this week began making payouts to approved applicants. The New York COVID-19 Pandemic Small Business Recovery Grant Program actually launched over a month ago and has received over 50,000…

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SBA Halts RRF Payments

In the wake of a federal court ruling that found the Restaurant Revitalization Fund (RRF) priorities (women, veterans and economically/socially disadvantaged individuals) unconstitutional, the Small Business Administration (SBA) has withheld almost 3,000 additional RRF approved payments to priority recipients. The SBA essentially revoked the priority approvals already given and halted consideration of other priority applications…

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25 States Cut UI Premium

Last Saturday marked the beginning states rejecting additional federal funds to pay unemployment premiums to those who’ve yet to return to work as four states (Alaska, Iowa, Mississippi and Missouri) stopped the bonus as of June 12. All told, 25 states will actually cease the payments before the formal federal expiration scheduled for September 6.…

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Congress Unveils More RRF Funds

Earlier this week, bi-partisan legislation was introduced in Congress to pump an additional $60 billion into the depleted Restaurant Revitalization Fund (RRF). As we advised just weeks ago, all $29 billion of the original RRF funds were committed within the 3-week priority window (women, veteran or socially/economically disadvantaged business owners) that Congress mandated when the…

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SBA Expands Targeted EIDL Pool

The SBA Administrator Isabel Guzman has announced that the agency will expand eligibility for its $25 billion cash grant program to a host of additional businesses. SBA’s Targeted Economic Injury Disaster Loan Advance grant program, which provides up to $10,000 to eligible businesses as well as its Supplemental Targeted Advance program ($5,000 follow-up grants) will…

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Has She Got a Deal for You!

Michigan Governor Gretchen Witmer is proposing a deal for small business owners in The Wolverine State that would put a $15/hour minimum in place for many Michigan workers. The Governor’s plan would provide 3-month wage grants to businesses that agree to increase worker wages to $15 per hour with the grant paying the differential between…

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New York Launching Grant Program

As the SBA’s Paycheck Protection Program and Restaurant Revitalization Funds expire or run out of funds, New York will begin accepting applications on June 10 for what the state is calling the Small Business Recovery Grant Program. The grant program, proceeds from which must go to reimbursable pandemic related expenses incurred between March 1, 2020…

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