We keep seeing the headlines of the government running out of funding assistance for businesses. Congress keeps extending deadlines and funding programs. So, what help is still available to help your business survive the current COVID-19 economic crisis? Three key programs are currently open to applications and have funding available. Paycheck Protection Program: Congress reopened… Continue reading COVID-19 Updates: What Help is Still Available?
Congress has extended the Paycheck Protection Program through August 8th, 2020. That means small businesses, through their SBA 7(a) lender can apply for the PPP loans. The goal of the Paycheck Protection Program is to enable businesses to keep their employees on the payroll during the coronavirus crisis, a time when many companies might be… Continue reading Paycheck Protection Program Open Through August 8th, 2020
As Congress continues to craft and vote on new stimuli programs, the Paycheck Protection Program continues to be the foundation of help for small businesses. These loans are SBA 7a Loans. However, as long as the funds are used for keeping or rehiring employees, the loan is forgivable. What is the PPP? Here is how… Continue reading SBA Resources: The Paycheck Protection Program (PPP)
What is an SBA 7a loan? An SBA 7a loan is an SBA-backed loan through a private lender. There are several types of SBA 7a loans, including the Standard 7a loan, the 7a Small Loan, the SBA Express Loan, and more. When people say, “SBA Loan,” they are typically referring to this popular program. A… Continue reading COVID-19 Relief Series, Part 3: What is an SBA 7a Loan?
NOTICE: Per the SBA, the Paycheck Protection Program is currently on hold, as the money has run out. The Senate passed a $484 billion bill that includes an additional $310 billion for the Paycheck Protection Program. It now goes to the House and then to the President who indicated that he would sign it. What… Continue reading COVID-19 Relief Series, Part 2: Paycheck Protection Program