5 @ 5: SBA to speed up the loan process | Opportunity for allergen-free foods
Small business bailout slowed by fight against fraud, sparking protests
While Congress authorized emergency payroll support loans for small businesses in December, anti-fraud measures adopted by the Small Business Administration significantly delayed their removal. As a result, the House Small Business Committee recently proposed $ 1 billion in new administrative funding for SBA administrative costs to improve internal systems that result in delayed financial relief for small businesses. The paycheck protection program has proven to be a beast to manage for the SBA over the past year (it has issued over $ 100 billion in loans so far); the organization has drawn criticism for providing loans to large, publicly traded companies aimed at struggling small businesses, as well as for its opaque decision-making process. Politics reports.
Allergen-free foods, an opportunity for the food industry
About 85 million U.S. consumers avoid buying products that contain at least one of the top nine food allergens. That’s a quarter of the American population! And some experts note that the nine major allergens are just the tip of the iceberg: More than 160 foods have been shown to cause allergic reactions in sensitive people. Research group Future Market Insights predicts a compound annual growth rate of 9% between 2020 and 2030, while ResearchAndMarkets says the food allergen testing market is expected to grow 6.8% between 2020 and 2025. Dive Into Them data to The Food Institute.
How will Senator Amy Klobuchar’s antitrust bill affect agriculture?
Senator Amy Klobuchar of Minnesota’s new omnibus antitrust bill aims to start the movement to help farmers regain control of their livelihoods. It would do so by increasing the budgets of antitrust law enforcement agencies and updating an old antitrust law to require companies to prove that their merger proposal would not harm the market. Modern farmer has the scoop.
After Racial Calculation, Aunt Jemima Renames Herself “Pearl Milling Company”
Aunt Jemima will now be known as the Pearl Milling Company, following an announcement last June that the company would remove the 130-year-old logo and name because of its racist roots. Refurbished pancake and syrup mixes will hit store shelves in June 2021. The Quaker Oats-owned brand has also pledged $ 1 million to “empower and uplift black girls and women” through grants to charitable organizations. non-profit. Read more on Eater.
Uber’s losses decline as growth in deliveries overtakes drop in ridesharing
Uber’s growing food delivery business is helping offset its massive losses caused by the pandemic. This week, executives revealed mixed results in the fourth quarter and Uber shares fell more than 3% after the bell on Wednesday. Uber’s net losses amounted to $ 6.77 billion in 2020, a 20% improvement from a loss of $ 8.51 billion in 2019. CNBC.