Over this past year, during the COVID crisis, many bank lobbies have been shuttered, making neighborhood banking seem like a thing of the past. But for small business owners, this crisis has brought home just how important it can be to have a strong partnership with a local bank.
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Harrisburg restaurateur faces fines, jail for pandemic-related fraud charges
A Dauphin County restaurant owner faces $2.6 million in fines and up to 90 years in prison after allegedly defrauding the federal government out of $237,500 in loans from the Small Business Administration.
Read More »PPP’s extension gave borrowers needed time to apply, funds expected to dry up before end date
An extension to the Paycheck Protection Program (PPP) from March to May allowed more time for small firms and businesses looking to draw from the program for a second time to benefit from it. But without additional funds, the program is expected to dry up soon.
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Op-Ed: How community banks are empowering small business
My advice for all small businesses is to truly evaluate the relationship with your financial institution. The dividends will push into perpetuity when fostered well.
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PPP loan applications open today with a tighter focus on small business
Lenders with less than $1 billion in assets can now submit applications for the second round of the Paycheck Protection Program (PPP) starting today, but borrowers looking to use the program a second time will have more hoops to jump through than they did last year.
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COVID-19 relief bill clarifies PPP loans
Congress clarified some of the confusion regarding Paycheck Protection Plan loans with the $900 billion COVID-19 economic relief package agreed to on Sunday.
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New federal stimulus package welcomed, lawmakers point out issues
State lawmakers praised the coming of the $900 billion federal stimulus package approved by the Senate and Congress this week but noted that much more must be done before the nation recovers from its public health and economic crisis.
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Federal officials evaluating ‘good faith’ of high-value PPP loan borrowers with new form
Borrowers of the federal Paycheck Protection Program who took loans of $2 million or greater can expect to receive a form from lenders on which they will be required to attest their funds were necessary to sustain the operations of their business during the pandemic,
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Carbon County has $5.8M in PPP grants for small business, nonprofit and others that ‘fell through the cracks’
The focus of the county grants is to help shore up funding for those who missed out on Paycheck Protection Program or Economic Injury Disaster Loan program benefits, said Kathy Henderson, director of economic development at Carbon Chamber and Economic Development Corporation in Lehighton.
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Fulton Bank handles $900 million in PPP loans
Approximately 4,000 Fulton Financial Corporation customers across Pennsylvania received more than $900 million in funding through federal CARES Act Paycheck Protection Program, including hard-hit nonprofit organizations whose mission is to serve others.
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