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In the News: Grants Up to $500,000 Available to Pennsylvania Small Businesses

When cities and states offer large grants, they want it to pay off by providing job growth opportunities, innovation, and even environmental improvements. That is the case for the grants the state of Pennsylvania is providing across several industries. These grants are supporting businesses by providing funds to improve their operations, storefront, and growth opportunities. This week’s grants highlight what is available in Pennsylvania and other parts of the country.

Pennsylvania is providing grants starting at $10,000 and going up to $500,000, to help a range of businesses. The Clean Energy Workforce Development Grant is offering up to $500K to five businesses to support growth and training programs in the industry. The state is also offering funds through the Philadelphia Storefront Improvement Program, Pittsburgh Avenues of Hope Storefront Facade Grant Program, Schools-to-Work Program Grants, and more. Find out more here:

In other parts of the country, Kroger is supporting Black-owned businesses in Ohio by funding a series of grant programs and organizations. Columbus-Franklin County Small Business Recovery Fund is providing up to $10k for those affected by the pandemic. Greensville County, Virginia has a small business grant program that is allocating $50,000 of American Rescue Plan Act funds. Beverly, Massachusetts is also allocating $1,000,000 from the American Rescue Plan Act and offering grants up to $50,000. Furthermore, it is extending the deadline of its small business grant program. Read more for more details:

Small Business News Roundup – March 18, 2022

Stay informed by taking a look at the rest of the news taking place in the small business world this week:

Biz2Credit Lending 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 rising, they’re rising in the same slow-growth pattern that’s existed for more than a year.

Only 1 in 10 NFT Owners Have Never Experienced a Scam

A new survey from PrivacyHQ reveals 90% or nine out of 10 respondents experienced an NFT scam. This level of uncertainty is cause for concern for a relatively new marketplace that is generating billions of dollars. Only 1 in 10 NFT Owners Have Never Experienced a Scam The PrivacyHQ survey spoke to 1,008 people in the U.S. who are actively investing in and own NFTs.

Fed Raises Interest Rate, Will Cost Small Business More for Loans

On Wednesday, Feb 16, the US Federal Reserve approved its first interest rate increase in more than three years, in a bid to address concerns of inflation stifling economic growth. The measure raised the interest rate by 0.25 percent to ease increasing inflation, which hit a new 40-year high of 7.9% in February.

SBA Extends Deferment for Small Business EIDL Covid Loans

Starting immediately the Small Business Administration (SBA) is extending the deferment for existing COVID Economic Injury Disaster Loan (EIDL) program borrowers for a total of 30 months. This includes the principal and interest payments on all approved COVID EIDL loans from the start.

National Small Business Week to Run from May 1-7, SBA Announces

Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) has announced the 2022 edition of the National Small Business Week (NSBW) will run from May 1-7 this year. This year’s NSBW will run under the theme ‘Building a Better America Through Entrepreneurship’ and solicit support for America’s 32.5 million small businesses.

Senate Votes to End Daylight Savings with the Sunshine Protection Act

On Tuesday, the US Senate unanimously agreed to the Sunshine Protection Act that would Daylight Saving Time permanent. The measure must be approved by the US House, with no changes, and then signed by President Joe Biden for the change to go into effect. Based on the unanimous support the bill got Tuesday in the Senate, that appears likely; it’s just a matter of when.

Georgia Man Sentenced After Using COVID EIDL Loan to Buy Rare Charizard Pokémon Card

A man from Laurens County, Georgia, has been sentenced to a federal prison after admitting he had falsely claimed a COVID-19 disaster relief fund. The man then went on to purchase a collectible Charizard Pokémon trading card with the funds.

Diesel Fuel Jumps 51 Cents a Gallon in 1 Week

The average price for a gallon of diesel gas jumped by 51 cents reaching $5.13 from $4.61 within just a week, according to AAA. The increase in gas prices saw a steady increase in diesel prices which was $3.89 a month ago and $3.073 a year ago.

How to File Self Employment Taxes

The many different Types of self employment jobs have quite a range. There are dog walkers and accountants, landscapers and delivery drivers. There are self-employed jobs that are so much fun, they don’t feel like work. Often that happens when a hobby becomes a career. No matter what type of work is done, all self-employed taxpayers have one thing in common: They pay taxes.

Best Tax Software for Self Employed People

The tax filing process for these individuals is a little different. You need to factor in business income and Social Security and Medicare tax. And there’s other special requirements on the tax return for these business owners. Take heart. There’s accounting software designed especially for people who work at self employed jobs.

Image: Depositphotos

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