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EIDL

10 posts
to do after PPP loan
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6 Things to Do After Receiving Your PPP Loan

You’ve gotten your PPP loan, spent it properly and hopefully qualify for full forgiveness. Congratulations! What’s next? StartupNation exclusive discounts and savings on Dell products and accessories: Learn more here Here are six steps you can take now, after receiving and spending your PPP loan, to help ensure your business continues on the road to recovery:...
WJR Business Beat
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WJR Business Beat with Jeff Sloan: Federal Government Offers Deferred Payments on EIDL Program Loans (Episode 200)

The U.S. Small Business Administration (SBA) announced it will defer the time period in which small businesses need to start repaying Economy Injury Disaster Loans (EIDL) in principle and interest. The COVID-19 EIDL program has assisted over 3.7 million small businesses in this country, including nonprofit organizations, sole proprietors and independent contractors from a wide...
Paycheck Protection Program updates
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New Paycheck Protection Program (PPP) Loans: How to Qualify and Apply

Updated January 11, 2021: The SBA has released guidance for new Paycheck Protection Program (PPP) loans available under the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act). This article includes the latest guidance and the new application forms. What are Paycheck Protection Program Loans? The Paycheck Protection Program (PPP)...
EIDL PPP loan
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How to Pay Back an EIDL or PPP Loan

If your business received an Economic Injury Disaster Loan (EIDL) or Paycheck Protection Program (PPP) loan, you may have determined it isn’t a good fit for your small business for any number of reasons: You just wanted the EIDL grant and not an EIDL loan,  You didn’t understand the loan terms when you applied, You...
business loans
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Are Business Loans More Affordable Now Due to the Pandemic?

The COVID-19 pandemic has devastated the global economy in a number of ways. Unemployment is up, the stock market is down, and small businesses are struggling to make ends meet. While Congress approved some financial help for small businesses with the Paycheck Protection Program (PPP), that aid has since expired and efforts to extend or...
business
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Stop Doing These 4 Things if You Want Your Business to Last

We’ve all seen the statistics on how many businesses fail within the first few years of operation, and the current pandemic may accelerate that struggle for some startups. After fielding literally thousands of questions from small business owners during the past few months at Nav, we’ve identified four ways businesses are setting themselves up to...
wjr business beat
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WJR Business Beat with Jeff Sloan: SBA EIDL Lending Program (Episode 83)

Today on the WJR Business Beat, Jeff reports on the EIDL program. The U.S. Small Business Administration announced the conclusion of the first component of the program, which provided U.S. small businesses, nonprofits and agricultural businesses immediate grant funding, totaling $20 billion. The distribution of the $20 billion went to nearly 6 million small businesses, employing...
financial help
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Need Financial Help to Reopen Your Business After COVID-19?

After months of lockdowns that required many companies to cut back hours, pause production or close completely, restrictions are starting to lift, and small businesses are starting to slowly and cautiously open back up. But when they do, they’ll be opening their doors to a different world than when they had to close them. With...
lender
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7 Steps to Get Your Business Lender Ready

For years, I’ve been encouraging business owners to line up financing before they need it. Whether it’s a crisis or opportunity, you want to be prepared so you can respond quickly—and that crisis is now a reality across the country. For some businesses, this will also be a time of opportunity. Aside from COVID-19 relief...
COVID loan
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3 Things That Could Cost Your Business its COVID-19 Loan

The Senate approved an additional $60 billion in funding for the Economic Injury Disaster Loan (EIDL) program and $310 billion for Paycheck Program Protection (PPP) loans on April 21, 2020. It now heads to the House and then, hopefully, to the President’s desk. Small business owners who missed out on the first round of funding...