Kristen M. Hess, founder and CEO of HH Architecture, has been named North Carolina’s Small Business Person of the Year. Her portfolio includes the North Carolina State Farmers Market Master Plan, the expansion of the North Carolina Zoological Park, and the Steve Troxler Agricultural Sciences Center.
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Meanwhile, records show that more than 3,300 loans of $150K and up have been distributed across the Triangle. Statewide, there were 16,324 loans of that size. That translates to a total of nearly 497,000 “protected” jobs.
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A new Government Accountability Office report out Thursday blasts the Small Business Administration for not providing them with detailed data on who received the loans, information GAO argued was essential to providing oversight.
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A new report from UNC’s Kenan-Flagler Business School “Frontiers of Entrepreneurship” lays out just how wide spread the damage has begun and also makes clear that better definitions about what is and isn’t a small business also are needed to help better understand – and deal with – what has happened.
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The Main Street Program from the Federal Reserve may now be a more attractive opportunity for smaller business, such as startups and emerging entrepreneurial companies, as an alternative to the Paycheck Protection Program being offered by the U.S. Small Business Administration.
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The Paycheck Protection Program Flexibility Act is now law. Here’s what you need to know.
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On June 3, the United States Senate approved the “Paycheck Protection Program Flexibility Act of 2020” (H.R. 7010). The new law was signed by the President and became effective on June 5. This law amends the CARES Act and makes significant changes to previous law and SBA rules relating to the Paycheck Protection Program.
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While North Carolina and many other states continue to relax COVID-19 related pandemic orders so that business can reopen, many may not be able to welcome back customers. Why? Cash – the lack thereof.
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Looking at initial PPP data, finance professor Manju Puri of Duke University’s Fuqua School of Business says there could be several reasons many small businesses have missed out on funds.
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