• About us
  • Donate
  • WADR
  • Contact us
  • Live Stream
Wednesday, March 22, 2023
Loud Silence News
Advertisement
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
Loud Silence News
No Result
View All Result
Home US News US Business

Small businesses seeking loans may have had personal data exposed

Loud Silence Staff by Loud Silence Staff
April 21, 2020
in US Business
0
Small businesses seeking loans may have had personal data exposed
1
SHARES
3
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

[ad_1]

Some small business owners seeking help via the Small Business Administration’s Economic Injury Disaster Loan program may have had their personal data shared with other applicants.

The SBA notified nearly 8,000 business owners of the potential inadvertent disclosure of information, which included names, social security numbers, tax identification numbers, addresses, dates of birth, email, phone numbers, marital and citizenship status, household size, income, disclosure inquiry and financial and insurance information, according to a letter sent to business owners, which CNBC obtained.

Letter from the U.S. Small Business Administration

“Personal identifiable information of a limited number of Economic Injury Disaster Loan applicants was potentially exposed to other applicants on SBA’s loan application site,” a senior administration official told CNBC. “We immediately disabled the impacted portion of the website, addressed the issue, and relaunched the application portal.”

The official said that, in order to access other business owners’ information, small business applicants must have been in the loan application portal.

If the user attempted to hit the page back button, he or she may have seen information that belonged to another business owner, not their own. The official said that 4 million small business owners applied for $383 billion in aid via the Economic Injury Disaster Loan program and Emergency grants. The two programs are funded for just $17 billion.

The impacted businesses have been offered identity theft protection services for a year. The letter sent to businesses says that, as of April 13, there has been no evidence to suggest there has been any attempt to misuse any of the information.

The disclosure is a potential hit to a program that has frustrated Main Street since its launch.

Small business owners are already frustrated

Small business owners were originally told they could access up cash grants up to $10,000 through the program within three days of applying. That was changed to “within days” of applying and caps were put on businesses to access only $1,000 per employee up to $10,000. The EIDL program runs through the SBA directly. It’s separate from the Paycheck Protection Program, which hit its $350 billion lending ceiling with 1.6 million loans approved in less than two weeks.

As of April 20th, the SBA reported that 26,919 disaster loans had been approved for a total of $5.6 billion dollars, and 755,476 EIDL emergency grants had been processed for a total of $3.29 billion. Total disbursement numbers for the EIDL program and the PPP program have not been made available.

Data from the NFIB show that three quarters of small businesses have submitted applications for PPP funding as of April 17, the day after the program reached its funding ceiling. Just 20% had been fully-processed with funds deposited in the borrower’s account, while nearly 80% were still waiting, unsure where they were in the process, according to the SBA.

Of the 40% who had successfully submitted an application for an Economic Injury Disaster Loan through the SBA website, 77% requested the emergency grant of up to $10,000. Of those who had requested the emergency grant, about 10% received the funding. What’s more, a quarter of small business owners believe it will not be until 2022 or later before the economy returns to normal.

A separate survey from the National Small Business Association found that just 5% of small business respondents that applied for an EIDL loan have received any money so far, while a quarter of businesses say they’ve received PPP funding. Two-thirds are now anticipating a recession in the next 12 months compared with just 14% in January, and nearly half of small businesses are not confident in the future of their business.

Subscribe to CNBC on YouTube. 

[ad_2]

This content first appear on cnbc

You might also like

Billionaire Mark Zuckerberg loses $5.9bn in a day as Facebook faces rare outage, whistleblower testimony

Global cases top 3.6 million, Trump says more deaths inevitable

Supreme Court says Justice Ruth Bader Ginsburg underwent treatment for gallbladder condition

Tags: Breaking News: Technologybusinessbusiness newsConsumer electronicsCoronavirus: BusinessMobileSocial mediatechnology
Previous Post

Financial Aid for Medical Practices

Next Post

Lockdown to be phased out gradually, guided by scientific evidence – Ramaphosa

Loud Silence Staff

Loud Silence Staff

Related Posts

US Business

Billionaire Mark Zuckerberg loses $5.9bn in a day as Facebook faces rare outage, whistleblower testimony

by News Reporter
October 5, 2021
Global cases top 3.6 million, Trump says more deaths inevitable
US Business

Global cases top 3.6 million, Trump says more deaths inevitable

by Loud Silence Staff
May 6, 2020
Supreme Court says Justice Ruth Bader Ginsburg underwent treatment for gallbladder condition
US Business

Supreme Court says Justice Ruth Bader Ginsburg underwent treatment for gallbladder condition

by Loud Silence Staff
May 6, 2020
US Business

United Airlines service workers sue over schedule cuts after airline got federal coronavirus aid

by Loud Silence Staff
May 5, 2020
Disney reports quarterly earnings, and TikTok gains more influence
US Business

Disney reports quarterly earnings, and TikTok gains more influence

by Loud Silence Staff
May 5, 2020
Next Post
Lockdown to be phased out gradually, guided by scientific evidence – Ramaphosa

Lockdown to be phased out gradually, guided by scientific evidence - Ramaphosa

Recommended

Shock as Bulls CEO steps down

Shock as Bulls CEO steps down

April 24, 2020

My Husband might be an Idiot but I’m a Proud Wife: Gifty Osei indirectly assert

August 14, 2021

Categories

  • African Business
  • African Education
  • African Health
  • African News
  • African Politics
  • African ShowBiz
  • Education
  • Ghana Business
  • Ghana News
  • Ghana ShowBiz
  • Ghana Sports
  • Human Interest Stories
  • News
  • Opinion
  • People
  • ShowBiz
  • Social Trends
  • US Business
  • US Education
  • US Health
  • US News
  • US Politics
  • US Showbiz
  • WADR
  • World Business
  • World News
  • World Politics
  • World Showbiz
  • World Sports

Don't miss it

Documents Revealing the Pure Theft of Prez Kufuor during Ghana @50
News

Documents Revealing the Pure Theft of Prez Kufuor during Ghana @50

March 7, 2023
Don’t be seen shouting Anyanafuo Mo Wo hin when One Government is in Power and go Mute when other government comes to Power
Ghana News

Don’t be seen shouting “Ayansafuo Mo Wo hin” when One Government is in Power and go Mute when the other government comes into Power

February 25, 2023
Don’t be seen shouting Anyanafuo Mo Wo hin when One Government is in Power and go Mute when other government comes to Power
Ghana News

Don’t be seen shouting Anyanafuo Mo Wo hin when One Government is in Power and go Mute when other government comes to Power

February 25, 2023
I deserve a national award for selling Ghana’s drill ship – KT Hammond
Ghana News

I deserve a national award for selling Ghana’s drill ship – KT Hammond

February 21, 2023
13 NPP NATIONAL SECURITY BOYS NABBED
Ghana News

13 NPP NATIONAL SECURITY BOYS NABBED

February 18, 2023
Who’s Gabby, I don’t have time for things like Him, He’s not Important to Me- Sophia Akuffo
Ghana News

Who’s Gabby, I don’t have time for things like Him, He’s not Important to Me- Sophia Akuffo

February 14, 2023

About Us

LOGO

Loud Silence Radio & TV Network and is a multi media production company focusing on Ghanaian and African news.

Contact

  • Alexandria, Virginia, USA
  • +1 212-602-9641
  • loudsilenceradio@gmail.com
Facebook Twitter Youtube Linkedin

Download App

google play store

© 2021 Loud Silence Media. All rights reserved.

  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
Menu
  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.