Category: Business Financing

Update: The President has signed the PPP Extension Act which extends the deadline to apply for PPP loans to August 8, 2020 The President has signed the Paycheck Protection Program Flexibility Act of 2020. This law may make PPP loans more attractive to small businesses. Here are 7 of the main ways it may help your business:  1. More Money For Nonpayroll Expenses Although not a provision of the CARES Act, guidance from Treasury and the SBA limits forgiveness for… Read More

Small business financing will likely become more difficult in the post Paycheck Protection Program (PPP) world. Many lenders have pulled back what they’re offering to cash-strapped small businesses coming out of the lockdown—with many lenders backing off entirely and others re-evaluating their credit criteria and only offering credit to the most creditworthy borrowers. This is particularly true for business lines of credit, but is also true for business credit cards (a traditionally good source of borrowed capital for those businesses… Read More

Factoring has been around for centuries and is one of the oldest ways to finance projects in the world. Although medieval businessmen were using factoring, today online factors have made it more accessible to small businesses looking for a quick and easy way to leverage their accounts receivables into capital to meet their business needs. Because of the way factoring works, there are some things you need to know about Factoring post COVID-19 that might help you access capital when… Read More