June 17, 2020

In This Issue:

  • Federal Disaster Loan Program Applications No Longer Limited to Agricultural Businesses
  • Fed Sees Need for More Small Business Aid, Citing 'Acute Risks' to Survival
  • 2020 Virtual Conference: Special $95 Early Bird Rate Extended
  • ALTA Launches Campaign Introducing the Guardians of the American Dream

Federal Disaster Loan Program Applications No Longer Limited to Agricultural Businesses

CNBC | June 15, 2020
The Small Business Administration is reopening its Economic Injury Disaster Loan and EIDL advance grant portal to a broader array of eligible small businesses and nonprofits affected by the coronavirus pandemic, beginning Monday.

The portal had been accepting applications only from agricultural businesses for the last month, as demand was high, and those businesses had not been EIDL eligible in the past.

“To meet the unprecedented need, the SBA has made numerous improvements to the application and loan closing process, including deploying new technology and automated tools,” SBA Administrator Jovita Carranza said in a statement.

The EIDL program has gotten less attention that the SBA’s Paycheck Protection Program, which has been popular on Main Street but had a rocky initial rollout with businesses delayed in getting funding and large public companies being shamed into returning funds. As of Sunday, 1.43 million loans had been approved for a total of $95.6 billion through the EIDL program. 
 
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Fed Sees Need for More Small Business Aid, Citing 'Acute Risks' to Survival

Politico | June 12, 2020
The Federal Reserve on Friday warned that struggling small businesses may need more government support even after employers received more than $500 billion in emergency loans.
 
In a semiannual report to Congress on monetary policy, the Fed said a wide variety of data reveal "an alarming picture of small business health during the Covid-19 crisis."
Surveys suggest that pessimism about business viability is prevalent, with a majority of small businesses seeing revenue losses and half not expecting to return to usual operations within the next six months, the Fed said. It noted that employment declines have been deeper among small businesses than among larger firms.

The Fed said three-fourths of small businesses with employees have applied for government assistance through the so-called Paycheck Protection Program, which Congress created in March to avert layoffs. The program allows businesses to apply for low-interest loans that can be converted into grants if they maintain payroll.

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2020 Virtual Conference: Special $95 Early Bird Rate Extended

TLTA | June 16, 2020
Join us July 13–16 for the 2020 Virtual Annual Conference and Business Meeting! Now more than ever, it's important to bring our industry together to share lessons learned this year, make new connections, and learn all we can about navigating the unique challenges and opportunities still ahead in the marketplace.
 
Here's everything you'll get when you register now! Click one of the buttons below to learn more and register now:
 




Our special early bird rate is only $95 this year so we can bring together everyone, especially all our peers on the front lines of keeping the real estate marketplace flowing under these challenging business conditions. With this extension of our early bird rate through Friday, June 26, we hope this affordable rate will help you register more folks from your office this year! After June 26, conference registration jumps to $145.
 
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ALTA Launches Campaign Introducing the Guardians of the American Dream

ALTA | June 16, 2020
The American Land Title Association released a campaign showcasing the hardworking members who move behind the scenes throughout a homebuyer’s journey to homeownership. The video reaffirms the association’s commitment to protecting homebuyers and property owners as the country grapples with the coronavirus pandemic during National Homeownership Month.
 

 
“There is no doubt that the COVID-19 pandemic has completely changed the meaning of what we have come to know as ‘home,’” said Diane Tomb, ALTA’s chief executive officer. “In the wake of the pandemic, ‘home’ has now become an office, a school to our children and the heartbeat of a family’s sense of security. We are proud of our members for stepping up during these challenging times.”
 
The video puts a spotlight on the many titles an ALTA member may take on when advocating for a homebuyer. But one title encapsulates their true role: protection. Land title professionals are responsible for protecting homebuyers, sellers and business owners from risks that could impact the purchase of a new property, including wire transfer fraud, hidden liens and other critical threats
 
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In addition to the live webinars listed below, you have access to our library of more than 80 On-Demand webinars and videos covering the title industry topics you need to earn continuing education credits and stay ahead of the curve on the latest industry trends!