Former New Hampshire senator Andy Sanborn secured $2 million in pandemic relief loans Heres how

Grants are equal to the lesser of $10 million or 45% of gross earned revenue in 2019. Grants must be used for specified expenses such as payroll costs, rent, utilities, and personal protective equipment. Any part of your PPP loan that is not forgiven must be paid back, either immediately, in the case of non-permitted use, or in the form of a five-year loan at 1% interest.

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Payments will be made directly to the landlord/property owner and utility company on behalf of the tenant. Funds are limited so please go to the ERAP website to see where funds are still available. In addition, households in any part of the state with income over 80 percent and up to 120 percent of area median income can still apply for state-funded emergency rental assistance. Search for health care providers that were reimbursed for increased expenses or lost revenue. The PRF was established in response to the pandemic’s impact on the nation’s Medicare facilities and health care providers. These funds were sent to states, the District of Columbia, U.S. Territories, and Indian Tribes or Tribal entities to assist homeowners with mortgage payments, homeowner’s insurance, and utility payments.

PPP Loan

If you’re interested in joining a credit union and exploring affordable personal loan options, use the National Credit Union Administration’s Credit Union Locator tool to find one near you. While both have great flexibility on how you use the money, some restrictions exist. Some lenders won’t allow you to use a personal loan for business purposes or to fund higher education. According to public records, Sanborn, who manages most of the business ventures of the Bedford couple, received $287,320 through the Paycheck Protection Program across his various companies. Simon used the funds for personal purposes, including the private school tuition of Simon’s children and his court-ordered child support obligations, according to Department of Justice Officials. A landlord cannot refuse to renew your lease or tenancy or unreasonably increase your rent because you made a complaint.

Targeted EIDL Advance: Forgiveness

Communication from the SBA will come from an official government email with an @sba.gov ending. Do not send sensitive information to any email address that does not end in @sba.gov. If you previously applied for an EIDL Advance but did not receive one due to a lack of available funds, you are second in line to be contacted by the SBA. The coronavirus pandemic continues, and despite unemployment rates reaching record lows in some states, many people still face financial distress. In September 2022, the U.S. unemployment rate was 3.5 percent, compared to 4.8 percent in September 2021 and a pandemic-era high of 14.8 percent in April 2020.

• The DOJ is not authorized to issue this administrative subpoena out of mere curiosity,” according to the petition that describes a “legally insufficient, unjustified, and overly broad civil investigative demand” to Chase Bank.
• Search for a borrower, or if you want to see how many people received loans in your state and other interesting facts, check out our PPP dashboard.
• In addition, you can contact your local Department of Social Services if you need help paying rent.
• In addition, any PPP loans that were wrongfully forgiven, either due to omission or misrepresentation by the taxpayer, will be treated as taxable income.
• There were three rounds of payments sent out, starting in March 2020 and ending in March 2021.
• Simon faces a statutory maximum of 30 years in prison on the wire fraud charge and a statutory maximum of 15 years in prison on the firearms possession charge.

Gaughan began working for the Archdiocese as its Director of Counseling in 2008 and was later promoted to Assistant Superintendent. In his role, Gaughan was responsible for recruiting and acting as the point of contact for contractors who provided various services to the Archdiocese. Gaughan then used a portion of the loan proceeds to purchase a 2020 Cruisers Yachts 338 CX 33-foot watercraft, a 2020 Kia Stinger, and a rowhouse in Northeast Washington. At the time of Gaughan’s arrest, the government obtained a warrant authorizing the seizure of the yacht, the Kia Stinger, Gaughan’s investment account, and Gaughan’s bank accounts. The government also filed a civil forfeiture complaint against a home Gaughan purchased with his fraudulently obtained proceeds. Additionally, the government filed a lis pendens on that property to give proper notice of the forfeiture litigation and to prevent the sale of the property prior to the resolution of this case.

Your landlord cannot change your locks or otherwise evict you without going to court even if your lease expires. The courts are beginning to accept cases although the courts are moving slowly in allowing cases to be scheduled. The New York State Eviction Moratorium that allowed tenants to file a hardship declaration to stop their eviction expired on January 15, 2022. Landlords are now allowed to serve court papers and the courts will be resuming eviction proceedings even if you filed a hardship declaration. You should check with the court if you had an ongoing court case that was stopped because you filed a hardship declaration.

*As of May 31st, 2021, the Paycheck Protection Program (PPP) is no longer accepting applications.

• The deliberate disruption or discontinuance of essential services may also constitute harassment as described above or be considered an unlawful eviction.
• In addition, it is unlawful for landlords and their agents to discriminate against tenants for associating with individuals of a protected class.
• Payments will be made directly to the landlord/property owner and utility company on behalf of the tenant.
• The money was awarded to the Draft sports bar in downtown Concord, which abruptly closed in March with all the other restaurants by the governor’s executive order.
• Because a coronavirus hardship loan was a type of personal loan, many of the same rules and features apply to both.

The only requirement is that you must spend the advance only for the expenses listed above. Although there is no application or accounting requirement, you should keep a detailed record of how you spend advance funds in the event the SBA has questions at a later date. Your Targeted EIDL Advance will not be taxable and will not be deducted from any PPP loan forgiveness amount if you receive both an EIDL targeted advance and a PPP loan. If your PPP loan forgiveness amount was previously reduced by an EIDL grant, the CAA directs the SBA to issue rules correcting that situation. pandemic relief loans If you’re applying through a credit union, you’ll need to become a member first before you can be considered for funding. Since they were meant for people in need, hardship loans charge low or even 0 interest for qualified borrowers.

• The Economic Aid Act revised the eligibility criteria for assistance to include all 7(a), 504, and Microloans approved up to September 27, 2020, even if not fully disbursed.
• The loans can also cover costs such as medical or utility bills and education expenses.
• However, the same safe harbors that apply to original PPP loans apply to Second Draw loans.
• To execute the scheme, Gaughan concealed his ownership and control of three companies, including by submitting forms using an alias.
• Gaughan then used a portion of the loan proceeds to purchase a 2020 Cruisers Yachts 338 CX 33-foot watercraft, a 2020 Kia Stinger, and a rowhouse in Northeast Washington.
• The IRS based the amounts that individuals received on income, tax filing status, and number of children (or qualifying dependents, like a relative).
• Received $38,560 from the taxpayer-backed program Stronger Together by Assisting You D.C.

To get more information about how a landlord collects on a judgment, visit the New York State Unified Court System. If the court finds that you had a financial hardship due to COVID-19, the landlord will not be allowed Online Accounting to evict you for the rent that was owed due to your hardship. You are protected from eviction for failing to pay rent that came due starting March 7, 2020 through January 15, 2022 if you suffered a financial hardship.

How Do New Changes Impact My Existing PPP Loan?

The Consolidated Appropriations Act (CAA), 2021, signed into law on Dec. 27, 2020, provided money for a new type of Economic Injury Disaster Loan (EIDL) advance and funding for a new grant that targets shuttered venues. But this compensation does not influence the information https://www.bookstime.com/bookkeeping-services/boulder we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.