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How is Your PPP Loan Application Coming Along? Here’s what to Do if it Fails

How is your Paycheck Protection Program (PPP) loan request coming along? Well, you’re not alone if your efforts don’t seem to bear any fruits. It’s unfortunate that small businesses, who were the target benefactors of PPP COVID-19 relief funding, have to sweat to get a slice of the cake. The CARES act allotted billions of dollars to help businesses through two programs; EIDL and PPP. The Paycheck Protection Program was exclusively meant to help small enterprises retain staff and cover payroll and other expenses amid coronavirus. Round One of the funding worth 349 billion dollars ran out sooner than we […]

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Which One to Choose: Personal Loan vs. Line of Credit?

These 2 types of financing are among the most common options people choose to apply for. This article is about a personal loan vs. line of credit. So, let’s start reading. Personal Loan In this case, you get money upfront and you’ll be required to pay back the fixed amount based on a schedule within a set period of time. Besides: You’ll be responsible for payments regardless of when or how you use the money You’ll be offered a set interest rate The rates are usually lower as compared to those associated with a line of credit You can easily […]

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Merchant Cash Advance Post PPP: How to Obtain It?

The post Paycheck Protection Program (PPP) world isn’t easy in terms of small business funding. Luckily, PPP isn’t the only option for business financing. You can also apply for alternative funding options such as a merchant cash advance (MCA). Let’s dive deeper into the topic. Post Paycheck Protection Program World Not all merchants find the Paycheck Protection Program or PPP the best fit for their business. There were businesses that weren’t eligible for the program. Others didn’t apply for it. The third ones are working on Q3 and Q4 financing. By the way, PPP loans put merchants into limits concerning […]

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Forgiveable Small Business Loans and Not Only

Small businesses hurt by the COVID-19 crisis have more than one source to get help from. This article will tell you what forgivable loan options you have in the State of Pennsylvania and the City of Miami. Also, you’ll read about a reliable alternative online lender to get funding assistance from. Small Business Loans: Pennsylvania 30 Day Fund The State of Pennsylvania offers a nonprofit Pennsylvania 30 Day Fund. This nonprofit program is backed by volunteers. To qualify for it, you must have 3-30 employees. To be eligible, businesses must also be owned and run by someone who resides in […]

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COVID-19 Economic Injury Disaster Loan & Other Options

In this article, you’ll find details concerning the COVID-19 Economic Injury Disaster Loan (EIDL) program. Also, you’ll discover other alternative financing options that can help you overcome the hardships caused by the pandemic. So, let’s start. COVID-19 Economic Injury Disaster Loan The pandemic is impacting the countries worldwide. The government is taking measures to help taxpayers to fight the crisis. The EIDL program is one of them. Be aware it’s not meant only for business owners. The number of people interested in the program proved to be higher than expected. That’s why the system got overloaded with applications, and the […]

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What You Need to Know About a Small Business Loan

It’s been increasingly more difficult to get a business loan from a traditional bank or financial institution. Today, when the world is going through these hard times, it’s become even harder to obtain the necessary funding to keep your business alive. If a small business loan from the federal government or an alternative provider is something you’re interested in, read this blog post. State-Backed Loans for Small Businesses To help business owners survive the economic crisis caused by the COVID-19 virus, the U.S. government started offering more than one financing option. PPP or Payroll Protection is one of them. If […]

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Credit Check for PPP Loans: Will Credit Affect or Not?

Are you a business owner in the U.S.? The government offers various support options to help you fight the created situation. The Economic Injury Disaster Loan (EIDL program) or Paycheck Protection Program (PPP) are among the support programs offered by the government. If details concerning the credit check for PPP loans and alternative options are the thing you’re interested in, read below. PPP Loans & Alternative Funding to Fight the Crisis The COVID-19 virus has damaged so many lives and businesses around the globe. The state-backed Aid, Relief, and Economic Security (CARES) Act is developed to help businesses fight the […]

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Covid-19 Relief Loans For Manufacturing Industries

Covid-19 relief loans for manufacturing industries are what will sustain their future. Manufacturers have been in the front lines of providing essential needs for healthcare workers, consumers, and for the development of treatments during this Covid-19 pandemic.  The National Association of Manufacturers (NAM) conducted a survey where 80% of manufacturers predict that the pandemic will have a negative financial impact on their business. Adding to the problem is that most manufacturing jobs cannot be performed remotely, but onsite. Oil prices and demand have continued to drop, there are bottlenecks in the supply chain, and anxiety is ruling the “credit market.” […]

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How Small Businesses Can Survive COVID-19 Crisis

Many businesses are left without revenue in the U.S. This is especially true of restaurants and shops. This article is about what steps small businesses can take to survive. Also, you’ll discover who can best help you with funding like ACH business loans and not only. Steps to Survive the Crisis: ACH Business Loans When the virus spread, there were nearly 30.2m businesses in the U.S., as the Small Business Administration reported. They employed 5.9m people. As of May 20, 2020, according to the National Bureau of Economic Research, forty-three percent of businesses shut for a certain period of time. […]

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Not Forgotten: Covid-19 Relief Loan For Contractors

Covid-19 relief loans for contractors are a welcomed help for many without financial buffers. An unprecedented number of American workers have been laid off or lost their employment outright, due to the Covid-19 pandemic. Another hard-hit sector of workers that has felt the pain is the self-employed. Freelancers and independent-contractors experienced the dramatic depletion of incoming work as well as their budgets paralyzed. The great divide between the two is that employees have more accessible financial support than their self-employed counterparts.  Thanks to the Coronavirus Aid, Relief, and Economic Security Act (CARES), the $2 trillion stimulus package signed into law […]

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