Four million hard-hit businesses approved for nearly $390-B in COVID Economic Injury Disaster Loans

SBA delivered an unprecedented level of economic aid to small businesses impacted by the pandemic WASHINGTON, DC – As the country continues to transition from a historic economic recovery to stable, steady growth that works for families and small businesses, Administrator Isabella Casillas Guzman, the voice for America’s 32.5 million small businesses in President Biden’s Cabinet, highlighted…

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California mortgage relief program expands eligibility for homeowners amid COVID hardships

THE California Mortgage Relief Program announced that it is significantly expanding eligibility requirements to offer funding to a greater number of California homeowners who have fallen behind on housing payments due to the impact of the COVID-19 pandemic. The program has modified the past-due requirement to include homeowners who missed payments in the first half of…

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Promoting Leadership With AAPI Stories and Voices

SCE celebrates community and business partners during Asian American Pacific Islander Heritage Month. By Shulie Tornel Patty Rhee’s parents stopped checking her grades when she started high school, which is unheard of in most Asian American households. Instead of focusing on academics, Rhee’s Korean immigrant parents wanted to nurture their children’s heart and spirit, so…

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[COLUMN] Know your options to get out of debt

ARE you seriously in debt and don’t know what to do about your situation? Are you afraid that unless you do something about it, thing will just continue to get worse every day? When people are going through financial difficulty and are unable to pay their bills, their first reaction is often to ignore their…

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[COLUMN] Chapter 7 vs. Chapter 13 

WHAT’S the difference between Chapter 7 and Chapter 13 bankruptcy? Chapter 7 is called a fresh start because it wipes out all dischargeable debt while allowing the debtor to keep most, if not all, of his assets. Chapter 13 is called reorganization of the debtor’s financial affairs where he is allowed to restructure his debts…

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[COLUMN] Company or personal liability?

WHEN a person wants to get into business, he or she can do business as an individual, or set up a different legal entity separate from him or herself to do the business. The separate legal entity does and operates the business, borrows money, executes contracts and does whatever is required of the business without…

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[COLUMN] What does bankruptcy ‘fresh start’ mean?

LET’S give bankruptcy a historical and legal perspective. Right now, when we say bankruptcy law, we refer to Federal law called the “Bankruptcy Code” of 2005. Creditors did a lot of lobbying in Congress to fashion the 2005 bankruptcy Code to enhance their interests. Thus, the 2005 Bankruptcy Code incorporates the “means test” which basically…

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