While the program is technically a loan, the terms of the loan state thatif you retain all employees on payroll for a total of 8 weeks, and that money is used only for expenses related to payroll, mortgage interest, rent, and/or utilities,the loan will be forgiven in its entirety. Can...
WaFd Bank Gets Money to Small Businesses in Need During COVID-19 with nCino See how nCino’s SBA Lending Solution helped banks and small businesses through COVID-19. Read the Blog MIMIT Health Saves Valuable Time During COVID-19 with Bridge Connector ...
Get the latest money, tax and stimulus news directly in your inbox [April 2020 – Disastrous Program rollout and additional funding]In response to the disastrous roll out of the expanded small business 7(a) loan program under the paycheck protection program (PPP), Lawmakers have finally realized...
The PPP, which ran out of money last week, is designed to provide loans for small businesses to keep their workers on the payroll during the coronavirus outbreak. About 80 percent of PPP applicants said they are still waiting, and many do not know where they are in the application process...
The funding would bolster the PPP and make more money available to firms that have suffered the most. Generally, borrowers are eligible for PPP loan forgiveness if they apply at least 60% of the proceeds to payroll. Partial loan forgiveness may be available to those who don't meet th...
J.D. Power found that changes made by the banks during the pandemic resulted in greater trust from small business owners. 73% of business owners said they are aware of at least one change made by banks due to COVID-related challenges, which led to...
Using social media to raise awareness of your favorite charity, or even running a small scale fundraising effort on their behalf can have a huge impact. Now more than ever this is a great time to use even a small amount of your time and money for good. Even small gifts can go farther...
For every outgoing, your business has, contact the recipient to see if there is any potential for saving even a small amount of money. Check for federal and provincial support Federal and provincial governments have announced a range of support measures for small businesses hit by COVID-19. Yo...
To find help navigating the options available, Sullivan suggests reaching out to your localChamber of Commerce, localSmall Business Development CenterorSCORE,a network of volunteer business mentors. SIGN UP:Money 101 is an 8-week learning course to financial freedom, delivered weekly to your inb...
A South Florida man has pleaded guilty to fraudulently obtaining $3.9 million in federal coronavirus loans and using some of the money to buy a Lamborghini Huracan.