When cities and states offer big grants, they want it to pay off by providing opportunities for job growth, innovation, and even environmental improvements. This is the case with the subsidies that the State of Pennsylvania gives to several industries. These grants support businesses by providing funds to improve their operations, storefront and growth opportunities. This week’s grants highlight what’s available in Pennsylvania and other parts of the country.
Pennsylvania offers grants ranging from $10,000 to $500,000, to help various businesses. The Clean Energy Workforce Development Grant provides up to $500,000 to five companies to support industry growth and training programs. The state also offers funds through the Philadelphia Storefront Improvement Program, Pittsburgh Avenues of Hope Storefront Grant Program, Schools-to-Work Program Grants, and more. . Learn more here:
In other parts of the country, Kroger supports black-owned businesses in Ohio by funding a series of grant programs and organizations. The Columbus-Franklin County Small Business Recovery Fund is providing up to $10,000 to those affected by the pandemic. Greensville County, Virginia has a small business grant program that allocates $50,000 in funds from the American Rescue Plan Act. Beverly, Massachusetts also allocates $1,000,000 from the American Rescue Plan Act and offers grants of up to $50,000. It is also extending the deadline for its small business grant program. Read on for more details:
Small Business News Roundup – March 18, 2022
Stay informed by taking a look at the rest of the news happening in the small business world this week:
Biz2Credit Loan Index Report for March 2022
Small business loan approval rates from all types of lenders continue to rise in very small increments, according to the Biz2Credit Small Business Lending Index released March 15. The report includes loan approval rates through February 2022. Although approval rates are increasing, they are increasing in the same slow growth pattern that has existed for over a year.
Only 1 in 10 NFT owners have never been scammed
A new survey from PrivacyHQ reveals that 90% or nine out of 10 respondents have experienced an NFT scam. This level of uncertainty is concerning for a relatively new market that generates billions of dollars. Only 1 in 10 NFT owners have never been scammed
Fed raises interest rate, it will cost small businesses more for loans
On Wednesday, February 16, the US Federal Reserve approved its first interest rate hike in more than three years, in a bid to address concerns that inflation is stifling economic growth. The measure raised the interest rate by 0.25% to dampen rising inflation, which hit a new 40-year high of 7.9% in February.
SBA extends deferral of EIDL Covid small business loans
Effective immediately, the Small Business Administration (SBA) is extending the deferral for existing borrowers of the COVID Economic Injury Disaster Loan (EIDL) program for a total of 30 months. This includes principal and interest payments on all COVID EIDL loans approved since inception.
National Small Business Week to run May 1-7, SBA announces
Isabella Casillas Guzman, Director of the United States Small Business Administration (SBA), announced that the 2022 edition of National Small Business Week (NSBW) will run from May 1-7 this year. This year, NSBW will run under the theme “Building a Better America Through Entrepreneurship” and will seek support for America’s 32.5 million small businesses.
Senate votes to end DST with Sun Protection Act
On Tuesday, the US Senate unanimously approved the Sunshine Protection Act that would make daylight saving time permanent. The measure must be approved by the US House of Representatives, without change, and then signed by President Joe Biden for the change to take effect. Based on the unanimous support the bill garnered in the Senate on Tuesday, that seems likely; it’s just a matter of when.
Georgia man sentenced after using COVID EIDL loan to buy rare Pokemon Charizard card
A Laurens County, Georgia man has been sentenced to federal prison after admitting to falsely claiming a COVID-19 disaster relief fund. The man then purchased a Pokémon Charizard trading card with the funds.
Diesel fuel jumps 51 cents per gallon in 1 week
The average price of a gallon of diesel gas jumped 51 cents to $5.13 from $4.61 in just one week, according to AAA. The increase in gasoline prices has led to a steady increase in diesel prices which were $3.89 a month ago and $3.073 a year ago.
How to File Self-Employment Taxes
The many types of freelance jobs have quite a range. There are dog walkers and accountants, landscapers and delivery drivers. There are freelance jobs that are so much fun they don’t feel like work. This often happens when a hobby becomes a career. Regardless of the type of work performed, all self-employed taxpayers have one thing in common: they pay taxes.
Best tax software for self employed
The tax filing process for these people is a little different. You must consider business income and Social Security and Medicare tax. And there are other special tax return requirements for these business owners. Take heart. There is accounting software specifically designed for self-employed people.
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