Sunday, October 25, 2020

Funding

Choosing The Right SBA Loan For Your Business

Choosing The Right SBA Loan For Your Business

This blog was originally posted by our friends at Business Finance Capital. It shouldn’t come as a surprise that SBA loans are a hot commodity these days. With the recent introduction of the SBA’s Economic Injury Disaster Loan program and the Paycheck Protection Program, it seems there are (at this …

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From Survival to Recovery Mode

From Survival to Recovery Mode

This blog was originally posted by our friends at Business Finance Capital. Accounting for upwards of 90% of the US economy, it is no stretch to say that the health of small businesses is vitally important to how well we recover as a nation from the financial crisis caused by …

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Main Street Lending Program: Is It Right for Your Business?

Main Street Lending Program: Is It Right for Your Business?

The Federal Reserve Bank of Boston finally rolled out its long-awaited Main Street Lending Program (“MSLP”). While originally intended to help large and mid-size businesses, the Fed decreased the minimum loan size, making it friendlier to small businesses as well. The most important thing to note at the outset of …

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BREAKING NEWS: NEW July 4 Law Extends PPP Availability

On Saturday, Trump signed into law an extension for small businesses to apply for the Paycheck Protection Program (PPP). The deadline is now extended through August 8th, pushed back from the earlier June 30th end date. Over 4.8 million small businesses have gained $520 billion in potentially forgivable loans since …

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NEW Law on 6/5 Makes PPP Even Better

NEW Law on 6/5 Makes PPP Even Better

You’re used to it by now—again the rules are changing. Here’s one that definitely works in your favor. After rare and unanimous consent in both the House and the Senate for a bill to loosen PPP restrictions, President Trump signed into law the Paycheck Protection Program Flexibility Act (PPFA) on …

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PPP: What happens if your company’s re-employment offer is rejected?

If you have received PPP (Payment Protection Program) money, you definitely want to take advantage of the SBA’s forgiveness clause. You may know that to get full forgiveness you are required to return to the same number of full-time employees (FTEs) you had on payroll before the pandemic—either the same …

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How to get up to $20K/Year in savings PER employee with IRS Payroll Tax Credit

If you’re one of the thousands of businesses still waiting to get PPP (Payroll Protection Program) money, or already suspect you’re not going to get it, be sure to take full advantage of the IRS’s Payroll Tax Credit—also known as the Employee Retention Credit. A lot of people don’t know …

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SBA Called Out for Mishandling PPP

The Wall Street Journal called the SBA to task on Friday for not following congressional mandates related to the CARES Act. Chief among its criticism was that the SBA failed to give lenders guidelines to prioritize borrowers in underserved and rural areas. Another complaint was that the SBA’s ‘forgiveness’ clause …

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