In the News: Grants of up to $500,000 Available for Pennsylvania Small Businesses

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When cities and states offer large subsidies, they want it to pay off by providing job growth, innovation and even environmental improvements. Such is the case with the subsidies that the state of Pennsylvania provides to various industries. These grants support businesses by providing funds to improve their operations, showcase and growth opportunities. This week’s exchanges highlight what’s available in Pennsylvania and other parts of the country.

Pennsylvania provides grants from $10,000 to $500,000 to help a range of businesses. The Clean Energy Workforce Development Grant provides up to $500K to five companies to support industry growth and training programs. The state also offers funds through the Philadelphia Storefront Improvement Program, the Pittsburgh Avenues of Hope Storefront Facade Grant Program, Schools-to-Work Program Grants, and more. Read more here:

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

Small Business News Feed – March 18, 2022

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

Biz2Credit Lending Index Report for March 2022

According to the Biz2Credit Small Business Lending Index released March 15, small business loan approval rates from all types of lenders continue to rise. in the same slow growth pattern that has been going on for over a year.

Only 1 in 10 NFT owners has never experienced a scam

A new survey from PrivacyHQ reveals that 90% or nine out of 10 respondents have experienced an NFT scam. This level of uncertainty is cause for concern for a relatively new market that generates billions of dollars. Only 1 in 10 NFT owners has never experienced a scam The PrivacyHQ survey spoke to 1,008 people in the US who actively invest in and own NFTs.

Fed raises interest rates, costs small businesses more for loans

On Wednesday, February 16, the US Federal Reserve approved its first rate hike in more than three years, in an effort to allay concerns that inflation is choking economic growth. The measure raised interest rates by 0.25 percent to curb rising inflation, which hit a new 40-year high of 7.9% in February.

SBA Extends Deferral for 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 approved COVID EIDL loans from the start.

National Small Business Week runs from May 1 to 7, SBA announces

Isabella Casillas Guzman, head of the US Small Business Administration (SBA) has announced that the 2022 edition of National Small Business Week (NSBW) will take place from May 1 to 7 this year. This year’s NSBW will be themed “Building a Better America through Entrepreneurship” and seek support for America’s 32.5 million small businesses.

Senate votes to end daylight saving time with Sunshine Protection Act

On Tuesday, the US Senate unanimously passed the Sunshine Protection Act that would make daylight saving time permanent. The measure must be approved by the US House, without amendment, and then signed by President Joe Biden for the amendment to take effect. Based on the unanimous support that the bill received in the Senate on Tuesday, that seems plausible; it’s just a matter of when.

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

A Laurens County, Georgia man has been sentenced to federal prison after admitting he falsely claimed a COVID-19 emergency fund. The man then bought a Charizard Pokémon trading card with the money to collect.

Diesel fuel rises 51 cents per gallon in 1 week

According to AAA, the average price for a gallon of diesel gas rose 51 cents, reaching $5.13 from $4.61 in just a week. The rise in gas prices drove a steady rise in diesel prices, from $3.89 a month ago and $3,073 a year ago.

Filing Self-Employed Taxes

The many different types of self-employed jobs have quite a range. There are dog walkers and accountants, landscapers and delivery people. There are freelancers who are so nice that they don’t feel like work. This often happens when a hobby becomes a profession. Whatever type of work is done, all freelancers have one thing in common: they pay taxes.

Best Tax Software for Self-Employed

The tax filing process for these individuals is a little different. You need to factor in business income and Social Security and Medicare taxes. And there are other special tax return requirements for these entrepreneurs. Create courage. There is accounting software specifically designed for self-employed people.

Image: Depositphotos

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