Browsing Tag

paycheck protection program

15 posts
PPP extension
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President Biden Signs PPP Extension Into Law, Application Deadline Now May 31

On Tuesday, President Biden signed a bill extending the the deadline to apply for Paycheck Protection Program (PPP) funding from March 31, 2021 to May 31, 2021. The Paycheck Protection Program is an SBA-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis. "Nearly 90,000 business owners are still in line, and...
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)...
PPP Loans
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4 Ways the New PPP Loans are Better Than Before

The economic stimulus bill that was recently passed by the House and Senate has been signed by the President. It contains several hundred pages of aid for small businesses. There will be more funds available for Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loan (EIDL) grants, among other aid to struggling businesses. Those...
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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...
wjr business beat
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WJR Business Beat with Jeff Sloan: Brian Calley (Episode 101)

On today's WJR Business Beat segment, Jeff shares a recent StartupNation Radio interview conversation he had with Brian Calley. Calley is the current president of the Small Business Association of Michigan (SBAM), and he was formerly the 63rd lieutenant governor of the state of Michigan. The Small Business Association of Michigan is an advocacy group on...
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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...
Paycheck Protection Program Flexibility Act
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7 Ways the Paycheck Protection Program Flexibility Act Can Help Your Business

Update 6/5/2020: President Trump signed the Paycheck Protection Program Flexibility Act into law. The legislation gives small business owners more flexibility in how they can use PPP funds and may make it easier to qualify for forgiveness.  The House and Senate have passed the Paycheck Protection Program Flexibility Act of 2020 and the President is...
seasonal businesses
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Additional PPP Guidance for Seasonal Businesses

It took a while to get here, but the SBA has provided some additional PPP guidance for seasonal businesses to calculate the maximum loan amount for seasonal employers. StartupNation exclusive discounts and savings on Dell products and accessories: Learn more here How does the new guidance affect the calculation of the maximum loan amount? The...
relief funds
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COVID-19 Small Business Relief Funds Exhausted

You may have heard that the Small Business Administration (SBA) has run out of money to fund the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program. In other words, at least for the time being, the COVID-19 Small Business Relief Funds have been exhausted.   Congress is currently working on another appropriation...
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Free Resources for Understanding COVID-19 Financing Options

Are you overwhelmed by the sheer amount of information out there about COVID-19 relief loans? Not sure where to start when it comes to what you might be eligible for? You’re far from alone. Information is being updated nearly hourly, and the various small business funding to make it through the coronavirus pandemic is a...
COVID loans
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COVID Disaster Loans vs. Paycheck Protection Program Loans

This article was updated on April 3, 2020 to clarify that there is no guaranteed amount for the EIDL advance/grant. We want to correct original guidance we gave regarding the $10,000 grant—it’s a common misconception, but after reading the law and hearing from some who have applied for the grant, we want to clarify that...