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Small Business Loan Approval Rate Improves In June

  • The approval rate for small business loans from big banks increased from 11.5% in May to 13.5% in June, according to the Biz2Credit Small Business Lending Index.
  • The approval rate was higher among smaller banks, increasing from 16.9 percent in May to 18.4 percent in June.
  • Approval rates at institutional lenders and credit unions rose slightly.
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Yes, You Can Restart Unemployment Benefits If You’re Laid Off Again

  • American workers may find themselves unemployed a second time due to resumed shutdowns or PPP depletion
  • The CARES Act and other rules allow people to get benefits over a longer period of time
  • What happens when the ‘benefit year’ ends
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U.S. Producer Prices Fall Unexpectedly

  • U.S. producer prices unexpectedly fell in June as weakness in services offset rising costs for energy goods
  • Deflation remains unlikely as the economy battles depressed demand caused by the COVID-19 pandemic
  • Lower interest rates likely to continue
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Insurers Crafting New Policies For Pandemic-Related Disruptions

  • New insurance products aim to protect businesses from disruptions caused by future pandemics
  • COVID-19 creates new opportunities for insurers to plug gaps in policies
  • Products provide peace of mind, but usually don’t come cheap
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Stocks Rise As Antiviral Success Offsets Fears of Rising COVID-19 Tally

  • Positive news on an antiviral treatment to combat COVID-19 helped offset investor concerns about the rising tally of virus cases in the United States
  • Nasdaq continues record closing streak while S&P 500 and Dow underperform
  • Reopening plans stall in several states on higher coronavirus case counts
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Joe Biden Proposes $700 Billion ‘Buy American’ Campaign

  • Joe Biden is proposing sweeping new uses of the federal government’s regulatory and spending power to bolster U.S. manufacturing and technology firms.
  • Plan calls for $700 billion investment in American goods and services as well as R&D at tech firms
  • Biden has previously pledged other policies such as raising the minimum wage and strengthening collective bargaining
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Layoffs Stuck at High Level as 1.3 Million Seek Jobless Aid

  • More than 1.3 million Americans applied for unemployment benefits last week
  • Resurgence in COVID-19 cases forces reversal or pause of reopening plans in several states
  • Companies warn of potential need for further layoffs as economy regains only about one-third of jobs lost in March and April
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The Best Freelance Side Gigs for Professionals

  • FlexJobs identified the best 25 freelance side jobs for working professionals who may be struggling during the COVID-19 pandemic
  • The gig economy was booming even before the pandemic, with nearly one-third of workers finding supplemental sources of income
  • Side gigs can lead to more flexible work or opportunities for full-time work
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Businesses in These Cities Haven’t Felt the COVID Pandemic Too Hard

  • LendingTree analyzed survey data from the U.S. Census Bureau to see which cities have felt the least impact on their businesses due to COVID-19
  • Cities in Kentucky, Virginia, and Arizona top the list
  • Recent reopening and local grants help ease the burden
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States Scramble to Assist Businesses Impacted By Pandemic, Compete for Emerging Jobs

  • State economic agencies turn focus to supporting existing businesses impacted by COVID-19 pandemic
  • Loan programs and other relief supplement federal efforts to minimize business closings and layoffs
  • Push for onshoring set to renew competition among states for emerging jobs
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