Even after the rollout of governmental aid programs in March, numerous small businesses still struggled to access PPP and EIDL funds while trying to survive the COVID crisis. Here are the top 5 reasons why the paycheck protection program and economic injury disaster loan program failed many small business owners in America.
Read about the most important small business news stories for the week of October 19th, 2020. This week, we cover Google AI and appointments, Prime Day records, and more.
Another round of PPP funding may be in the works, but the odds aren’t looking great. Here’s everything your small business must know about the PPP reopening.
Oregon businesses physically impacted by wildfires in eight counties are now eligible for low-interest federal loans through the Small Business Administration (SBA). Businesses in 14 adjacent Oregon counties and two California counties may also seek financial support through the SBA’s economic injury loan program.
While the words might sound confusing or even intimidating, a business incubator could potentially be one of the greatest resources to help you launch your startup. While not for everyone, it’s important to understand what a business incubator does and how it can help your startup take off with an abundance of resources, from financing to shared office space.
Nonprofits have plenty to teach small business owners about managing money and people, communicating a mission, carving out a needed niche, writing a business plan, and using social media to tell their story. Learn more about North by Northeast Community Health Center, the only free health clinic in Oregon dedicated to African American/Black health, and see how following the pattern of a successful nonprofit can change your business ethics and efficacy.
Fintech — a term that stems from “financial technology” — has played a key role in the years after the 2008 recession by offering small businesses alternative lending platforms to the traditional banking system. During the current time of crisis, many fintechs pivoted quickly to shovel out billions in PPP funds. Like almost everything else associated with the PPP, fintechs have been far from perfect over the past few months. However, these forward-facing firms have still helped fill a gap left by the bigger banks.
Computers, IT equipment, and related items pose unique issues for businesses trying to decide whether to lease or buy. Tech equipment becomes obsolete more quickly than almost any other type of equipment, making it a poor long-term investment. At the same time, many businesses need to keep their tech hardware up-to-date in order to remain competitive. Should you buy or lease your tech equipment? Read on.
We are starting to see some signs of small business recovery, and that’s a great thing. But business owners must stay vigilant and be prepared for the very real possibility of more pandemic-related business disruptions in the near future. Use the resources we’ve provided to learn more about socially distanced selling, emergency financing, and more.
As the COVID-19 pandemic continues its societal devastation and an economic crisis thrives in its wake, many businesses throughout the US are hurting financially. In an effort to help alleviate small- and medium-sized businesses, the Federal Reserve has announced a new inititative known as the Main Street Lending Program. Read on for more details.