Browsing Tag
paycheck protection program
15 posts
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...
WJR Business Beat with Jeff Sloan: Second Round of PPP Funding Still Available (Episode 180)
The Small Business Administration's second round of Paycheck Protection Program (PPP) funding is open through March 31, 2021, and President Biden just announced a series of program enhancements to ensure that underserved small companies hardest hit by the pandemic have the best opportunity to apply for the PPP funds. The PPP funding formula is being...
WJR Business Beat with Jeff Sloan: New Paycheck Protection Program Details (Episode 158)
This morning, we want to direct the attention of small business owners to the latest pandemic stimulus bill. Passed by Congress in late December, it has opened the doors for many small business owners to access new relief loans through the Paycheck Protection Program (PPP). This money can be used to pay employees and keep...
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)...
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...
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 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...
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...
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...
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...
WJR Business Beat with Jeff Sloan: Applications Open for Paycheck Protection Program (Episode 41)
Today, applications open for the second round of the Paycheck Protection Program, an SBA loan that helps entrepreneurs keep their workers employed during the COVID-19 crisis. Jeff offers up great tips for securing these funds in this morning's WJR Business Beat, including: Go to a local, community bank Make sure you use the funds as...
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...
Apply for Federal COVID-19 Support Now or Risk Missing Out, Business Strategy Expert Says
As small and medium businesses scramble to stay afloat during the COVID-19 pandemic, the U.S. government has made billions of dollars available in loans to help companies make payroll and stay afloat. At the same time, startups in certain industries such as online learning or grocery delivery may be struggling to keep up with increased...
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 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...