Category: Business Financing

SBA $15,000 Targeted EIDL Advance Grant: Do You Qualify?

SBA $15,000 Targeted EIDL Advance Grant: Do You Qualify?

https://youtu.be/PIBdhK6P2l4 Updated June 22, 2021 to reflect that SBA encourages all eligible businesses to apply. Small businesses impacted by COVID-19 may be eligible for a Targeted EIDL Advance (grant) of up to $10,000, as well as a Supplemental Targeted Advance of $5000. These grants do not have to be repaid. The SBA is now encouraging all eligible businesses to apply.  To be considered for one of these grants, your business must meet the eligibility requirements (see below) and apply (or… Read More
Tractor Trailer Finance 101

Tractor Trailer Finance 101

Jump to a Section3 Options for Tractor Trailer FinancingHow to Qualify for Tractor Trailer LoansCan You Get Tractor Trailer Financing as a Startup?Is it Possible to Qualify for Tractor Trailer Loans with Bad Credit? Should You Buy or Lease Tractor Trailers?Alternative Financing Options for Tractor TrailersNav's Final Word: Tractor Trailer Financing If you run a trucking business, then the tractor trailer is probably the most important piece of commercial equipment you need. And they don’t come cheap. Whether you need… Read More
PPP Loan Extension: You Still Have Time to Apply for a PPP Loan

PPP Loan Extension: You Still Have Time to Apply for a PPP Loan

On the morning of June 30, 2020 I received an email with an urgent question, “Is it too late to apply for a Paycheck Protection Program (PPP) loan?” At that moment, it was too late. That was the last date to get an approval number from the SBA and lenders had stopped taking applications in anticipation of that looming deadlines.  But less than 24 hours later that changed.  The House and Senate voted to extend the program until Aug. 8,… Read More
5 Ways You Can and Can’t Use Your EIDL Loan

5 Ways You Can and Can’t Use Your EIDL Loan

The Small Business Administration (SBA) approved over $390 billion in COVID-19 Economic Injury Disaster Loans (EIDLs) to help small businesses during the pandemic. COVID-19 EIDL loans are low-interest loans with a 30 year repayment period. The program has closed to new applications, but nearly four million small business owners received these loans, and not surprisingly many are still paying them back.  Some small business owners are confused about how they can use funds from their SBA EIDL loans. As one… Read More
5 Tips For Getting One of The Best Business Loans

5 Tips For Getting One of The Best Business Loans

When it comes to small business lending, SBA loans are hot. In fact, in fiscal year 2019, the U.S. Small Business Administration guaranteed over $28 billion to entrepreneurs that otherwise would not have had access to capital to start, grow, or expand their small businesses. Business loan approval, in general, is the highest it’s been post-recession. SBA loans appeal to entrepreneurs because they tend to have longer payment terms and lower interest rates than many other types of business financing… Read More
Salon Equipment Financing in 2020: Everything You Need to Know

Salon Equipment Financing in 2020: Everything You Need to Know

Whether you’re opening a new beauty salon or looking to grow your business by upgrading your salon equipment, interest rates are at an all-time low this year, so it could be the best time to take out a loan or other financing. While there are several small business loan options to consider, there are some specifically geared toward beauty salons and spas looking to buy equipment. We’ll cover all your financing options here and help you determine which is the… Read More