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Small business loan applications to resume Monday after Trump signs new $484 billion package into law

President Trump signed into law a $484 billion coronavirus relief bill that includes another $310 billion in funds designed to provide relief to small businesses.The Small Business Administration will resume accepting loan applications through the Paycheck Protection Program on April 27.Visit Business Insider's homepage for more stories.President Donald Trump signed into law a $484 billion coronavirus relief bill on April 24.The bill includes $310 billion in new funds for the Paycheck Protection Program (PPP), which was put in place to provide aid for small businesses.According to a statement released by Jovita Carranza, administrator of the Small Business Administration (SBA), and Treasury Secretary Steven Mnuchin, the SBA will begin accepting PPP loan applications again on Monday, April




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US banks made a quick $10 billion in 2 weeks by processing small businesses loans from the government, says report

US banks earned $10 billion in two weeks processing the loans from the government scheme to protect small businesses from financial ruin during the coronavirus crisis, according to an NPR report.The rescue plan worth $349 billion offered businesses loans of up to $10 million to thousands of US companies and were guaranteed by the federal Small Business Administration.The banks charged a transaction fee of 5% on loans worth less than $350,000, while on loans worth between $2 million - $10 million, the cost was 1%.The banks defended the massive windfall of loan transaction fees, saying that processing the loans involved complicated vetting procedures.Treasury Department guidelines are less rigorous than for regular loans, and the taxpayer provides the funding, so there is little risk for the




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11 major companies that have returned millions of dollars acquired through a government relief program meant for small businesses




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If you haven't already applied for federal small business relief, you're probably out of luck on this round — but you still have a few other options.

The US government added a second round of $310 billion to the Paycheck Protection Program (PPP). But small business owners who haven't applied for PPP loans yet, may be too late to receive any funding. Bankers, lawyers, and consultants said the volume of already approved loans will be enough to tap out the second round of funding.If you don't get government loans and funding, there are still a few other options available to small businesses.Click here for more BI Prime content.If you were hoping to get your loan application into the second round of stimulus funding for small businesses, the chances are stacked against you. But you could turn to tax relief or private companies, local governments, and organizations offering grants and resources to small businesses hurt by the pandemic.Late last




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'It's not what you think it is': The government's bailout loans are failing small businesses like mine, says Farmgirl Flowers' CEO

Christina Stembel founded her floral company, Farmgirl Flowers, in her dining room in 2010, using her personal savings and a cash-back credit card to cover business expenses.The company has since blossomed into a thriving startup that employed almost 200 staff members prior to the coronavirus.However, as the pandemic causes economic fallout worldwide, Stembel told Business Insider that the future of her company is uncertain.She said the process of applying for the first round of the Paycheck Protection Program, a government fund meant to help small businesses through the coronavirus pandemic, was frustrating and fruitless."I know that the intention of this program is to help small businesses, so let's change it to make sure this money does fall into the hands of small businesses," she said.Visit




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Wine businesses and smaller restaurants are getting creative to stay afloat, according to a master sommelier — but even as alcohol purchases boom the industry needs our support

Jonathan Ross is one of the 300 master sommeliers in the world: He is an educator for the Guild of Sommeliers, an examiner for the Court of Master Sommeliers, and sits on multiple wine investment advisory boards, as well as founded Micro Wines.He says that although the alcohol industry is booming for large retailers, small businesses are struggling to find ways to stay afloat.Many smaller retailers and restaurants are turning to creative ways of staying open, including virtual tastings, delivery, and designer happy hours.Support your local restaurants and wine sellers now if you want them to survive this lockdown period.Click here for more BI Prime stories.With a substantial amount of lockdown time under our belts, people around the world have found creative ways to remain social, active,




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The second round of the government's program to help small business is under way. This map shows where the money has gone so far.

The Paycheck Protection Program is a key component of the federal government's response to the economic devastation caused by the ongoing coronavirus pandemic.After the initial $350 billion allocated for the small business loans at the heart of the program was exhausted in just two weeks, Congress appropriated an additional $320 billion in funding.A recent Small Business Administration report shows where that second round of funding has gone so far.While the first round largely went to more rural states on a per-capita basis, much of the $175 billion from the second round that was dispersed as of May 1 has gone to larger, harder-hit states.Visit Business Insider's homepage for more stories.The novel coronavirus has ravaged the US economy, with more than 33 million Americans filing for unemployment




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Greggs reopens small number of shops on trial basis

The popular baker is carrying out the trial in the Tyneside area.




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It took 184 years to eradicate smallpox after a vaccine was developed — a reminder of what we may face with the coronavirus

On the 40th anniversary of the eradication of smallpox, the World Health Organization's director general said it's "a reminder of what's possible" when it comes the coronavirus. But he said the fight against smallpox had one crucial tool we don't yet have for COVID-19: a vaccine. Even after a vaccine was developed for smallpox, it took another 184 to completely eradicate the disease — a reminder of the long road ahead for conquering the coronavirus. Visit Business Insider's homepage for more stories.On May 8, 1980, the World Health Assembly officially declared smallpox eradicated.The disease had "plagued humanity for at least 3,000 years, and killed 300 million people in the 20th century alone," the World Health Organization director-general Tedros Adhanom Ghebreyesus said during a media briefing




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How a small NYC grocery delivery business is coping with a 400% surge in demand during the coronavirus pandemic

The coronavirus has forced grocery delivery drivers on the front lines of the pandemic.Mirchi, a small New York City grocery delivery service with around 10 employees, is struggling to keep up with a 400% increase in demand.The company's founder said that "by day three, all of my employees were burnt out."View more episodes of Business Insider Today on Facebook.Since the spread of the coronavirus in the US, drivers like Remy Quezada Rodriguez are on the front lines of the pandemic, delivering food to Americans hunkered down at home. Rodriguez works for Mirchi, a small New York City grocery delivery service specializing in South Asian ingredients. Lately, the company has been inundated with orders of rice, spices, and other goods.To keep up with demand, the company's founder Naresh Mulchandani




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Federal relief loans for small businesses just dried up. Here's what to do if you need $1 million dollars or more to stay afloat

Getty ImagesAll of the PPP loan funds have been committed, but new Fed-backed loans could help some businesses come back after the crisis.Less than two weeks after launch, all of the $349 billion allocated to small businesses in the CARES Act has been committed.Lending could now come to a grinding halt as banks won't have the guarantee of the US Treasury to back up more loans.Business owners who still need financing greater than $1 million can take advantage of the Federal Reserve's Main Street Lending program, which will support additional loans from banks.The Fed's program backs four-year loans with payments and interest deferred for the first year.Visit BI Prime for more stories.Just 12 days after the launch of the Payroll Protection Program, all $350 billion in loans have been approved,




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Jack Daniels alone and a karaoke version of Great Balls of Fire in a strip mall bar - how Justin Bieber spent the night as celebrities partied at the VMAs

The 22-year-old pop star missed out on the VMAs and instead partied alone at a bar in Studio City where he stunned regulars with a karaoke turn after a few neat whiskeys/




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White House formally notifies Congress of airstrike that killed Iranian general

The notification is classified and likely describes Trump's justification for the attack that killed the high-level Iranian official, who was considered second in power to the Ayatollah.




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Is this Jo Swinson's bacon sandwich moment? Lib Dem leader awkwardly eats marshmallow

Jo Swinson joins the likes of Nigel Farage, Theresa May, Zac Goldsmith and Ed Miliband who have been caught awkwardly tucking into food on the campaign trail.




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Suspected explosion triggers a small earthquake near China's border with North Korea

The magnitude 1.3 quake took place in the Chinese city of Hunchun at 19:38pm local time today with a focal depth of zero metres, reported China seismic network.




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Princess Eugenie picks Alex Bramall for royal wedding portraits

Eugenie, 28, was previously photographed Alex when she posed for a shoot with Harper's Bazaar US in 2016. The official portraits will be taken at Windsor Castle, following the ceremony.




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Greed of the elite is like a boa constrictor that squeezes the life out of England's small clubs

OLIVER HOLT: Andy Holt, the owner of Accrington Stanley has accused big clubs of being like a boa constrictor, squeezing the life out of the teams in the lower leagues of English football.




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Southampton starlet Will Smallbone on following in Gareth Bale and James Ward-Prowse's footsteps

EXCLUSIVE BY ADRIAN KAJUMBA: The latest graduate of Southampton's famed academy, Will Smallbone will not forget 2020 in a hurry after his dream, goal-scoring full debut in the FA Cup.




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Kim Kardashian shows off her white Christmas decorations that look like marshmallows

The 39-year-old makeup mogul shared a look at her Christmas decor in her massive Hidden Hills, California mansion on Thursday.




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What a sweetie! The nippy new Polo looks fantastic...but there’s one small hole in VW’s thinking

Myriad Polos have come and gone over the years, with 12 million cars sold so far, including past World Car of the Year winners




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Donald Trump hits highest poll number yet as Ben Carson and Marco Rubio make small gains

New York businessman Donald Trump remains the front-runner in the Republican presidential race, while Ben Carson has solidified his hold on second place.




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Simon Property Group to open 49 mall locations in 10 states starting Friday

Simon Property Group, the biggest mall operator in the country, will open 49 mall locations in 10 states between Friday May 1 and Monday May 4.




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Billionaire hotelier got $126million in small business loans after hiring Trump-allied lobbyists

A few weeks before Monty Bennett's companies received the sum, he hired Jeff Miller, former vice chairman of Trump's inaugural committee, and Roy Bailey, a re-election campaign fundraiser.




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Health official feared biological warfare over a pandemic prioritizing smallpox vaccine over masks

President Trump's top official for public health preparedness, Robert Kadlec, dedicated billions in taxpayer dollars to fight biological and chemical weapons prioritizing that over battling a pandemic.




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Malls across America resemble ghost towns despite reopening to the public

Known for being thriving social hubs and a key part of the American economy, dozens of malls remained abandoned this week, despite opening back up for businesses.




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Tiny flowers pack a punch: Plant small bulbs ...then sit back to watch the show 

British gardening expert Nigel Colborn shares advice for giving spring gardens a punch. He suggests planting tiny bulb, crocus now for a show in March.




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Plot a greener future: The lockdown is a chance to get going on projects big and small

Nigel Colborn shares his advice for making the most of your time in lockdown. British gardening expert advises ordering bee-friendly plants and other resources online.




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Gas explosion rips through Russian laboratory containing smallpox, Ebola and HIV viruses 

The explosion, at the Vector laboratory in Siberia, left a worker with second and third degree burns. The lab is one of two places in the world which houses the smallpox disease.




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My mid-market marvel in the mall

There is, apparently, much to loathe about Westfield, west London's gleaming monolithic temple to Mammon. The arrival of Pastaio is something to celebrate, however




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Calista Flockhart walks her three small rescue dogs in Santa Monica amid coronavirus quarantine

The 55-year-old Golden Globe winner and husband Harrison Ford will celebrate a decade of marriage in June




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Five 'suspected Isis terrorists' are detained in major Moscow shopping mall

The alleged cell, lead by Idris Alibekov, had reportedly been plotting attacks on a school and a police station in Moscow over the New Year holidays.




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Anger of Lord Bramall's son that NO police officer has paid the price for bungled VIP probe 

REBECCA HARDY: Shortly after Field Marshal Lord Bramall shared his final wishes with his family, his only son Nicolas started tapping out an email.




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Argos deliver replacement fridge so small it can't even fit a pint of milk inside 

Lauren Brown, 23, and her partner Lee Stubbs, 25, from Rossendale, Lancashire, ordered a £170 fridge freezer to arrive on Saturday. But after a delay was given a replacement instead.




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Only the smallest handful, like Olafur Eliasson, can make the heart soar with the genuinely sublime 

Danish artist Olafur Eliasson's work is grand, often spectacular, and richly humane.




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Katy Perry takes her dog to a SPA after featuring him in her Small Talk video

Katy Perry stunned in an Adidas tracksuit set and accessorised with a $25K Hermes Birkin bag on Wednesday, as she headed to the spa for an early morning session with her dog, Nugget.




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Professor is fired after saying Iran should bomb the Mall of America and the Kardashians' home

Asheen Phansey, a former adjunct professor at Babson College in Wellesley, Massachusetts, was fired after suggesting Iran should target American cultural sites to bomb




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Etiquette expert's guide to surviving Christmas parties: from ditching dullards to making small talk

UK etiquette expert William Hanson has offered his top tips on how to survive the party season - and his advice includes what to do if you're ditched with someone boring or if you forget a name.




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Parents face smaller state pension over failure to fill in child benefit form

Thousands are facing a poorer retirement as a result of innocent mistakes over paperwork. Nandia Needham, pictured with husband Martin, could be £20k out of pocket over a 20-year retirement.




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Senate to rush through ANOTHER $250 billion bailout for small businesses as early as Thursday

Mitch McConnell wants to have another round of small business bailouts on the Senate floor by Thursday in an expansion of the Paycheck Protection Program.




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$350 billion paycheck fund runs out of cash and Trump blames Dems for 'killing' small businesses

Donald Trump blamed Democrats for 'killing' small businesses as the $350 billion paycheck protection fund ran dry Thursday morning.




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Britain's cornerstone: ROBERT HARDMAN says our defiant smaller stores still have all we need

ROBERT HARDMAN: As we confront the gravest national and global crisis since World War II, it is our shopkeepers who are rapidly emerging as one of the principal bulwarks against downright anarchy.




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Roma boss Paulo Fonseca wants to keep Man United loanee Chris Smalling for at least another year

The 30-year-old centre-back joined the Serie A side on loan last summer, and with that deal expiring at the end of this season, Fonseca is keen to keep the on-loan defender at the Stadio Olimpico.




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Tara Brown and 60 Minutes receive small fine for Sally Faulkner kidnapping

Tara Brown and her 60 Minutes crew will be charged with a misdemeanour for their role in the abduction of Sally Faulkner's children in Lebanon. The charge carries a fine of up to $670.




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An Inspector Calls: Making a big Deal of Bear's Well - a family home turned pretty small hideaway on the east coast of Kent

What to do when you find yourself in possession of the old family home, but don't want to sell it. In the case of one enterprising couple in Deal, you turn it into a boutique B&B. The Inspector checks in.




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Lockdown could last into JUNE with Boris Johnson's Sunday relaxation of restrictions to be small

The Prime Minister told the cabinet he will proceed with 'maximum caution' when it comes to easing restrictions, to avoid another rise in coronavirus cases in the UK.




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Downsizing your home: Tips for moving to a smaller property in retirement

There are many reasons people choose to move to a smaller place. Perhaps your kids have left so there's no need for all the extra room, or you want to release some cash to supplement your income.




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eBay slashes fees to support struggling small firms during pandemic

Small firms who sign up to eBay will pay no charges to list or sell up to 250 items a month until May 31. Existing business sellers will be given a 30-day payment holiday on all fees.




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How small firms are surviving coronavirus: We're pulling pints to go

Andrew O'Connor and Phil Waters (pictured), chefs at the Full Moon Pub in Buckinghamshire, have turned their hands to churning out dozens of ready-to-cook meals for customers to take home.




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'We have an army of small investors who rely on our dividend': Tesco boss defends bumper payout

The supermarket's latest preliminary results cover the year to 29 February and do not cover the spell of mass panic buying in the last few weeks.




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SMALL CAP MOVERS: Tiziana Life Sciences doubles in value

Tiziana's possible treatment may have a number of advantages over its competition - not least the inhaler method used to get the drug to the affected area.