This PowerPoint video shares a few highlights on the Economic Injury Disaster Loan and the Paycheck Protection Program via the CARES ACT. Topics include loan particulars, the loan process, and documents required. Also a roadmap on a suggested order in which to look at the various options available and how best to decide what may be optimal for your business. A few additional resources...Read More
A few thought starters on key items a small business owner should focus on navigating the 2020 Pandemic. Topics include cash flow/cost control, revenue, taking out a loan, how business valuations will be affected while selling a business, and buying a business.
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Probably two words you wouldn’t expect to be in the same blog title– Pandemic and Linkedin. A good friend of mine, Medo Eldin, put together this video and I really like the underlying message for all of us business owners.
Even in the best of times, I see the most successful business owners have struck a balance between working “on” their business and working...Read More
As of 3.31.20, the Paycheck Protection Program (PPP) has been rolled out.
One additional benefit, SBA Debt Relief, might be currently being overlooked by some but is a very large benefit for borrowers with existing SBA loans, AND for borrowers with a new loan issued before 9.27.20. This new loan provision could be very motivational for future buyers and businesses on the market currently....Read More
The link below update focuses on insurance coverage relevant to an employer. Insurance may play a key role in insulating businesses from labor-related losses, as well as other COVID-19 induced harm. Topics include Workers Compensation, Employment Practices Liability Insurance, Business Interruption Insurance, Directors and Officers Insurance, Key Person, and other types of insurance.
Source:...Read More
Below is a tool that some Private Equity portfolio companies are using to assess the risk areas in their businesses and develop an action plan to address them. One of the things that many crisis management experts advise, and much of what we learned from the 2008-2012 Great Recession, is that it is critical in times of significant turmoil and uncertainty to:
Understand and actively track what...Read More
The link below will provide an overview from the US Chamber Of Commerce to help guide small business owners through the SBA emergency loan process.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100%...Read More
The U.S. Small Business Administration’s (SBA) low-interest Economic Injury Disaster Loans (EIDLs) are now available to small businesses, small agricultural cooperatives, small aquaculture businesses and private nonprofit organizations affected by the loss of revenue due to the Coronavirus. As of 3.24.20, the below provides details for Economic Injury Disaster Loans- eligibility requirements,...Read More
The COVID-19 crisis has impacted the world in so many profound ways, one of which includes how businesses manage their relationships with their employees. The following FAQ addresses several questions businesses are raising in regard to employment-related issues created by the unprecedented COVID-19 situation such as leave, safety, wages, benefits, taxes, and possible insurance coverage....Read More
Federal Changes- below is an update on items affecting/supporting small businesses as of 3.23.20. Naturally, items are changing rapidly, and we will continue to provide future updates.
SBA Disaster Assistance – Available NOW– get started here.
Economic Injury Disaster Loan Program:
Activated by States “Emergency” declaration- Loan amount up to $2 million – 3.75% business, 2.75%...Read More