The Paycheck Protection Program Flexibility Act (PPPFA) was signed into law this Friday. The document addresses many concerns regarding the Paycheck Protection Program (PPP) loans geared to provide financial relief to small business affected by the coronavirus outbreak. Read on to discover the changes introduced by the PPPFA that give more options to small business…
Applying for a business loan is a process that requires some preparation. For example, when you apply for a loan, you’re asked to make a loan package, a series of financial statements that a lender will use to gauge your financial position. The specific loan package you’ll need to apply for a business loan may…
Applying for a business loan requires a diligent approach, since some mistakes can slow down or halt the application process. Fortunately, many of those mistakes are avoidable. Watch out for these common pitfalls to make the application process smoother and less stressful. Having No Business Plan Before applying for a business loan, you must have…
The second round of the Paycheck Protection Program (PPP) is under way as a measure to help small businesses affected by the coronavirus outbreak. This program aims to provide small businesses with 2.5 times their average monthly payroll up to $10 million. Business owners must use the funds to keep their employees and pay other…
Being prepared is always important, but it becomes essential when it comes to taking out a business loan. A good preliminary step is asking yourself questions that cover the most important aspects of the lending process. If you are considering taking out a business loan, think carefully about the following five points. 1.- Do I…
With the coronavirus pandemic still unfolding, business loans are more important than ever. Companies of all types are facing unique challenges to stay in motion and a business loan can solve many of their problems. From asking the right questions to taking a look at your credit history, there are things you can do to…
The second round of Paycheck Protection Program Loans has been officially approved, but questions about this relief provision still abound. Below you will find the five most common among those questions, answered according the latest update (April 24, 2020) provided by the Small Business Administration (SBA). What Are Paycheck Protection Program Loans? The Paycheck Protection…
Businesses of all sizes are doing their best to navigate the outbreak of COVID-19. Understandably, all alternatives are being considered, but taking out a business loan during the coronavirus pandemic is one the most logical answers to the challenges that businessmen and women are facing right now. Without the high interest rates of payday loans…
A Business Incubator is an organization that provides funds and expertise to speed up the growth of startups and early stage companies. Banks usually deny loans to startups because, unlike traditional businesses, they lack experience and don’t have a customer base. This process can be extremely frustrating for startup owners, and Business Incubators exist to…
Companies all around the world are facing daunting challenges. Priorities shift, circumstances change, and navigating all those pitfalls is not exactly easy. In this sometimes puzzling landscape, a loan is a good option for organizations trying to figure out the best way to expand and adapt to the complex reality of their industries. To Purchase…
