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PPP

Editorial: Very Little Known About New Stimulus Money For Santa Clarita Small Business

Income tax papers and calculator on desk

The Biden administration is expending major resources to get the word out on the COVID-19 vaccine, but little is known about additional protection for Santa Clarita small businesses. Starting July 1st, the Biden administration approved new stimulus funding for small businesses. Small businesses who were in areas of the country, such as Santa Clarita, where government orders affected business operations, ...

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Significant New Tax Breaks For Small Businesses

Santa Clarita business owners may be entitled to new stimulus money that is outside the PPP assistance and SBA loans. The American Rescue Plan (ARPA), passed in March 2021 and taking effect July 1, 2021, instructed the Secretary of the Treasury to issue refunds on payroll to businesses who have paid employees during periods their business operations were impacted by ...

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Garcia Votes In Favor Of PPP Extension

Congressman Mike Garcia (1)

On Tuesday, Congressman Mike Garcia, R-Santa Clarita, joined lawmakers in voting in favor of House Resolution (HR) 1799, known as the Paycheck Protection Program (PPP) Extension Act of 2021. The Paycheck Protection Program Extension Act, voted for by Garcia on Tuesday, was reportedly designed to extend the PPP loan application from March 31 to May 31, 2021. “Small businesses are ...

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Santa Clarita Man Pleads Guilty To Obtaining Over $1 Million In PPP Loan Scam

A Santa Clarita Valley man plead guilty Tuesday to federal charges that he fraudulently obtained more than $1 million in Paycheck Protection Program (PPP) loans for sham companies, officials said. Raymond Magana, 40, of Santa Clarita, pleaded guilty to one count of fraud in connection with major disaster or emergency benefits, funds he obtained by filing tax documents for fake ...

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Garcia To Host Virtual PPP Webinar For Small Businesses In Santa Clarita

Congressman Mike Garcia

Congressman Mike Garcia, R-Santa Clarita, is set to host a series of virtual discussions on the Paycheck Protection Program (PPP) where businesses can sign in and ask questions.  The webinar discussions are open to small business owners and administrators within California’s 25th Congressional District (CA-25), with Santa Clarita’s webinar scheduled for Thursday Jan. 28 at 11 a.m., according to a ...

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Paycheck Protection Program: Who Can Get It, And How It Works

Coronavirus Money

With the latest COVID-19 relief package including $284 billion for small business loans under the Paycheck Protection Program (PPP), KHTS has compiled a breakdown of who can apply for these loans, and how they work. As part of the most recent COVID-19 relief package signed at the end of December, $284 billion was allocated for PPP loans, providing much-needed relief ...

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Santa Clarita Man Charged With Fraudulently Obtaining Nearly $2 Million In COVID Loans

Coronavirus Money

A Santa Clarita man faces federal charges alleging that he and his business partner fraudulently obtained nearly $2 million in COVID-19 loans, officials said. Raymond Magana, 39, of Santa Clarita, and his business partner, Steven R. Goldstein, 36, of Northridge, were named in a federal criminal complaint charging them with making false statements to the government, fraud in connection with ...

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Santa Clarita Bank Provides Personal Reassurance During Financial Hardship

Mission Valley Bank - Supporting YOU

During the global pandemic, COVID-19, many local businesses have had to downsize and some have had to close their doors completely. Business owners suffering closure turned to the Paycheck Protection Program, PPP,  in order to meet payroll and keep their doors open. Mission Valley Bank in Santa Clarita knew their customers were facing hardship and wanted to help. “It’s part ...

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Mission Valley Bank Reports $1.2M Net Income In 2020 Second Quarter Amid Pandemic

Mission Valley Bank reported a $1.2 million net income in their second quarter of 2020 amid the COVID-19 pandemic, officials said. Mission Valley Bancorp announced Thursday net income of $1.2 million, or $0.38 per diluted share, through the second quarter of 2020. This is compared to net income of $1.5 million, or $0.47 per diluted share, through the second quarter ...

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