There are many reasons why having your business valued makes sense; whether it is to inform sale price negotiations, your financial planning or even succession planning. But one, often underestimated outcome of the process is that it can act as an accelerator for enhancing the value of the business itself by enabling it to make better-informed […]
Early-stage start-ups can receive government funding through state and local grant and loan programs as well as various Small Business Administration loans—but they’re ineligible for the SBA’s Paycheck Protection Program and Economic Injury Disaster Loans if they don’t have an income history. When looking for funding, Frank LaMonaca, chairman of the Southeast Connecticut chapter of […]
Michael Haith, owner and CEO of a Denver-based restaurant chain called Teriyaki Madness, is in an unusual position for people like him: He’s making money through food delivery and pickup and wants to borrow funds so he can expand. Yet so far, a Federal Reserve lending program set up specifically for small and medium-sized businesses […]
As shelter-in-place orders continue to lift, small businesses nationwide are looking at how they can reopen for business. Even with relaxed guidelines, the new normal means limited services, lower capacity, and increased attention on health and wellness. Many are asking themselves how they can ready their businesses in advance. Fortunately, there are many strategies […]
As relentlessly ubiquitous as it is, you really can’t quibble with ongoing saturation media coverage of the coronavirus pandemic. Who doesn’t want to know all there is to know? But there is a flip side. This is sidestepping significant coverage of other important developments, including another slew of major cyber-breaches this year, not to mention […]
In a rare display of bipartisanship, on June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act (PPPFA) in an attempt to address many concerns expressed by the small business community around the Paycheck Protection Program (PPP) aimed at providing COVID-19 relief. On May 27, 2020, the House passed the PPPFA by 417-1 […]
On May 27, 2020, the House passed the Paycheck Protection Program Flexibility Act by 417-1, which attempts to ease restrictions on small businesses as they seek loan forgiveness under the Paycheck Protection Program authorized by the CARES Act. The House bill comes on the heels of new Treasury Department “Interim Final Rules” on PPP loans issued late […]
On Thursday, the SBA announced it will be giving an another $6.8 billion in Paycheck Protection Program (PPP) funds to Community Development Financial Institutions (CDFIs). These nonprofit lending institutions are central to the effort to get relief loans to small businesses in underserved, low-income areas. “The forgivable loan program, PPP, is dedicated to providing emergency capital to sustain our nation’s small […]
The Treasury Department and Small Business Administration are preparing to release much-anticipated forgiveness guidelines for borrowers who were able to secure a Paycheck Protection Program loan — a crucial road map for those who hope to have their federally-backed loan turn into a grant — according to Senate Small Business Committee Chairman Marco Rubio and his Democratic […]
The COVID-19 outbreak has wreaked financial havoc around the globe, leaving many small-business owners struggling in its wake. According to the National Federation of Independent Business (NFIB), as of March 30—still early in the crisis—92% of small businesses said they had suffered negative effects as a result of the pandemic. Just 5% of small-business owners […]
