Coronavirus (COVID-19) Guides & Resources
Need Small Business Funding? When You Should Get A Business Credit Card VS A Small Business Loan
Business owners looking for funding sources are likely to converge on two options: business credit cards and business loans/lines of credit. In this article, we’re going to be comparing these two common sources of business financing and letting you know the circumstances that call for utilizing them.
Small Business Loan Resources & Guides For Businesses Affected By The Coronavirus
The federal government is still shaping its response to the unfolding coronavirus pandemic and the accompanying economic fallout, so a lot of questions remain with regard to what kind of relief will eventually be available. In the meantime, if your small business is suffering, there are some resources you can immediately tap that can either directly extend credit to you, or help guide you to it.
How To File A Business Tax Extension In 2021
Thanks to the pandemic, every business owner has extra stress this year. Thankfully, the government is easing some of that stress by extending the April 15 annual tax return filing deadline. Here is our quick guide to finding the business tax extension form and everything you need to know to file correctly.
COVID Relief: Can My Small Business Get Multiple EIDL Loans?
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.
PPP Round 2: Main Differences Between The First & Second Round Of PPP Funding
Guidance for the new and improved program was released January 6, 2021, with the program expected to be online by January 21. With thousands of small businesses under unprecedented stress, you can expect demand for these programs will be extremely high.
Regular 3508, 3508EZ, or 3508S: Which PPP Forgiveness Form Is Right For My Small Business?
You will need to apply for forgiveness through the lender that serviced your PPP loan, not the SBA itself. To do this, you’ll need to submit one of the three available forgiveness application forms, depending on your circumstances: SBA Form 3508, SBA Form 3508S, or SBA Form 3508EZ.
PPP Loans: What Is Owner Compensation Replacement & How Does It Work?
While many of the same qualifications apply to sole proprietors and self-employed as larger businesses, there are specific provisions for individuals who are the entirety of their company and do not compensate themselves through payroll.
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.
New EIDL Grants: How To Tell If Your Business Is In A Low Income Community
Community is one of those words that sounds like it has an obvious meaning, but in practice can mean a lot of different things. In the case of qualifying for an EIDL grant, what the SBA is talking about is your census tract. Depending on how populated your area is, there may be many census tracts within your municipality or very few. As it turns out, there are slightly different measures for businesses that are located in rural areas as opposed to metropolitan ones.