skip to Main Content

Small and Medium-Sized Businesses Hit in Cyberattack on Microsoft Exchange

  • Tens of thousands of small and medium-sized businesses affected by cyberattack on Microsoft Exchange
  • Few compromised companies are likely to be directly attacked, but the breach does potentially create vulnerabilities
  • Microsoft provides guidance and a software patch to remedy the issue
Read more

U.S. Treasury to Invest $9 Billion in CDFIs and Minority Depository Institutions

  • Treasury providing $9 billion to community financial institutions and minority depository institutions
  • Along with $3 billion in other pledged funding, support is intended to incentivize lenders to provide loans to businesses in underserved communities
  • Previous relief programs came under criticism as being less accessible to minority-owned businesses
Read more

Food Service Industry Leads U.S. Jobs Recovery in February as 379,000 Positions Added

  • U.S. economy adds 379,000 jobs in February, led by a gain of 355,000 positions in the leisure and hospitality sector
  • Several sectors show robust gains, but jobs totals remain well below pre-pandemic levels
  • Unemployment rate holds at 6.2 percent
Read more

Business News Roundup, March 5, 2021

The Senate is preparing to vote on a large economic stimulus measure, and the Federal Reserve is anticipating short-term inflationary pressure in the near future. At-home hospital care has seen an increase in startup activity, and smaller companies often feel…

Read more

Connecticut Lifts Business Capacity Limits Effective March 19

  • Most business capacity restrictions in Connecticut will be lifted on March 19
  • Some restrictions remain, including the mask mandate, social distancing and sanitation protocols, a curfew, and capacity limits at certain venues
  • Bars will remain closed for the time being
Read more

Businesses Optimistic in Federal Reserve Report, But Hospitality and Leisure Continues to Lag

  • Businesses show more optimism for year ahead in “Beige Book” report from Federal Reserve for the start of the year
  • Manufacturing grows despite supply chain challenges, while hospitality and leisure activity remains depressed
  • Businesses report challenges in finding qualified workers, anticipate higher prices
Read more

Lenders Seek Extension of March 31 PPP Deadline

  • Lenders and CPA group call on Congress to extend deadline for PPP applications beyond March 31
  • Groups say issues such as error codes and complications with application process could exclude borrowers if the deadline remains in place
  • Some lenders are also calling on a loan calculation formula to apply retroactively to borrowers whose applications have already been approved
Read more

Business News Roundup, March 4, 2021

The COVID-19 pandemic continues to impact the economy in a variety of ways, including elevated unemployment claims and heightened risk of closure for nonprofits, but small businesses have been unlikely to establish testing or vaccination rules for employees. The American…

Read more

Self-Employed Workers Could Receive Larger PPP Loans Under New SBA Rules

  • U.S. Small Business Administration issues new Paycheck Protection Program rules for self-employed business owners, gig workers, and other non-employer entities
  • Applicants can now use gross income rather than net income to calculate their maximum loan, eliminating problems created by business cost deductions
  • Changes also lift eligibility restrictions for some applicants with felony convictions as well as those who are delinquent or in default on federal student loans
Read more