The economic stimulus bill known as the American Rescue Plan Act of 2021, signed into law by President Biden on March 11, 2021, is designed to facilitate the country’s recovery from the devastating economic and health effects of the COVID-19 pandemic. Read on to see which ARP provisions affect small business owners the most.
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Pros Transparent pricing Month-to-month billing No setup fees Excellent customer support Very few public complaints Cons Accepts US-based merchants only Not suitable for high-risk businesses VizyPay Overview VizyPay has been in the merchant account business since 2017. A reseller of First Data/Fiserv payment processing and Clover point of sale systems, VizyPay distinguishes itself from the […]
Can your small business get multiple EIDL loans? Can you increase your EIDL size? Find out if it’s possible to get more relief funding from the EIDL program.
Through the ECIP, up to $9 billion will be sent directly to Community Development Financial Institutions (CDFIs) and minority depository institutions (MDIs) so these institutions can provide funding and relief to communities in the US that have suffered the most from the effects of the pandemic and from decades of economic neglect.
Whether you’re offering magazine subscriptions, a grocery delivery service, a subscription box company, or software-as-a-service (SaaS), a good subscription billing service attends to your particular needs. From invoicing to accounting to reporting and analytics, we want to match you with the recurring billing service that fits your business’s needs without making you pay for features you don’t need.
COVID Relief: You Could Get Partial Forgiveness, Increased SBA Guarantee, & More On 7(a) Loans & Microloans
In order to get the full eight months’ worth of forgiveness of principal and interest payments for these loans, your business will need to be in one of the industries identified by the SBA as particularly impacted by the coronavirus pandemic, such as food service, accommodation, education, arts & entertainment, and personal care services.
To help shuttered live event venues stay in business long enough to return once the pandemic is over, Congress has approved a new grant program specifically targeted at businesses that host entertainment, both live and recorded.
PPP Loans & Credit Scores: Is A Credit Check Required To Get A PPP Loan? What To Expect When You Apply
As far as formal requirements go, there is no credit score requirement you must meet in order to qualify for a PPP loan. This is despite the fact that the PPP program technically falls under the SBA’s 7(a) loan program, which does feature an acceptable credit requirement. However, this formal requirement has been suspended when it comes to Paycheck Protection Program loans.
Short-term business loans can be just the thing to see your business through unforeseen challenges or to help you take advantage of time-sensitive opportunities. If you can pay back your loan in a timely manner, you’ll have overcome your temporary hurdle, dodged the debt trap, and positioned your business for future success.
Lenders want borrowers to pay as much interest as possible, which is why some loans discourage and penalize early payment through the use of prepayment penalties. However, using the strategies outlined in this article, you may be able to make prepayments on your business loan while avoiding or minimizing any penalties, even if your loan does include a prepayment penalty.