Small Businesses Can Now Borrow Up to $500,000 Through Government Program

Ruben Onsu

Companies harmed by the coronavirus pandemic can soon borrow up to $500,000 through the Small Business Administration’s emergency lending program, raising a cap that has frustrated many applicants.

“The pandemic has lasted longer than expected,” Isabella Casillas Guzman, the agency’s administrator, said on Wednesday. “We are here to help our small businesses, and that is why I’m proud to more than triple the amount of funding they can access.”

The change to the Economic Injury Disaster Loan program — known as EIDL and pronounced as idle — will take effect the week of April 6. Those who have already received

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Why older Americans with student loan debt might want to consider refinancing

Ruben Onsu

Student loan debt isn’t just a problem for young people; many older Americans owe money too. Student loan refinancing could help older individuals to lower their monthly payment and potentially become debt-free more quickly. (iStock)

Student loan debt is often viewed as a problem facing young people. But the sad reality is that millions of older Americans, including senior citizens, are also burdened with educational loans that impact their finances. This can be an especially big problem during retirement when income may be limited.

Unfortunately, according to recent research from Fiscal Policy Institute, Americans aged 60 and

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LA Times lands $10 million PPP loan to cover plunging ad revenue

Ruben Onsu

The Los Angeles Times has received a $10 million Paycheck Protection Program (PPP) loan to fill a gaping hole in ad revenue caused by the COVID-19 pandemic, the paper reported Tuesday.

The money will be used to cover employee payroll and benefits, the paper said, after the pandemic “dealt a significant financial blow last March” when advertisers “abruptly pulled their advertising.”

“The money will be used almost exclusively for employee-related costs, including payroll and employee benefits,” Chris Argentieri, president and COO of the California Times, the newspaper’s parent company, told a Times reporter.

“We lost tens of millions of dollars

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Affordable tuition, student loan forgiveness are crucial for a just society

Ruben Onsu

In just a few years, the number of citizens carrying student loan debt has increased. The average amount carried, and the total amount owed nationwide have increased as well. (Pixabay/Quince Creative/3D Animation Production Company)

Many of us were disappointed recently, by reports that President Joe Biden was unwilling to support canceling student loan debt up to $50,000. Student loan debt is not merely a problem for the culture and economy in the United States; it is a genuine crisis.

Over 45 million citizens — about one sixth of the population — are burdened with student loans. The average amount of

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Student loan forgiveness: Biden will cancel $1 billion in student debt for defrauded borrowers

Ruben Onsu
The change will deliver full loan forgiveness to 73,000 people who were deemed eligible for the relief under former Education Secretary Betsy Devos but received only partial loan forgiveness after she changed the cancellation calculation.
“Borrowers deserve a simplified and fair path to relief when they have been harmed by their institution’s misconduct,” Secretary of Education Miguel Cardona, who was confirmed by the Senate earlier this month, said when he announced the change last week.

“A close review of these claims and the associated evidence showed these borrowers have been harmed and we will grant them a fresh start … read more

LA Times receives $10 million PPP loan

Ruben Onsu

The Los Angeles Times revealed late Tuesday it is receiving a $10 million loan from the Paycheck Protection Program — the maximum allowed under a series of federal bailouts designed to help businesses devastated by the pandemic.

LA Times owner Dr. Patrick Soon-Shiong and the paper’s president, Chris Argentieri, have scheduled a virtual town hall for Thursday morning. While sources said the town hall will likely focus on plans for the fresh funds, some insiders speculated that the long, drawn-out search for a new top editor also might be over.

A spokeswoman for the LA Times, however, insisted that the

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