Search results for

What Is a Good Interest Rate on a Business Loan?

The business loan interest rate you’ll pay will depend on the loan and type of lender you have. However, on average, credit union and bank installment loans typically offer interest rates in the low single digits.  Online and alternative lenders may offer a faster and easier funding and application process, yet their interest rates may […]

What is the Shuttered Venue Operators Grant (SVOG)?

The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance. Eligible applicants may qualify for grants […]

COVID-19 Economic Injury Disaster Loan

This loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue. Loan details APPLY HERE  In response to COVID-19, small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for the COVID-19 Economic Injury Disaster Loan (EIDL). […]

What is the Employee Retention Credit (ERC)?

The Employee Retention Credit (ERC) is a tax credit available for small business owners, LLC’s, S-Corps or 1099 employees. Similar to the $1,200 stimulus check taxpayers received, this credit is designed to help small businesses during these trying times. Find Out if Your Business Qualifies It’s a fully refundable tax credit for employers equal to 50 percent […]

What SBA Covid-19 Programs Am I Eligible For?

With Covid-19 changing business operations for most of 2020 and 2021, many business owners have turned to SBA programs like the Paycheck Protection Program for financial relief. What gets complicated is when one business is looking to qualify for more than one program – but don’t worry, we’ve put together a brief cross-eligibility guide designed […]

What Documentation is Needed for the Employee Retention Credit (ERC) ?

The Employee Retention Credit (ERC) is a tax credit available for small business owners, LLC’s, S-Corps, or 1099 employees. Similar to the $1,200 stimulus check taxpayers received, this credit is designed to help small businesses during these trying times. The ERC is not a loan, it is a tax credit, meaning that it does not […]

What Documents Do I Need to Apply for a Second-Draw PPP Loan?

If you’ve already received your first Paycheck Protection Program (PPP) Loan, you many now be  eligible for a second-draw loan if: You can substantiate that you had a 25% loss in gross receipts/gross income between 2020 and 2019 You’ve spent the funds you obtained from the first-draw PPP loan on authorized purposes (and at least […]

Everything You Need to Know About Restaurant Revitalization Fund Grants (RRFG)

What entities are eligible for Restaurant Revitalization Fund Grants (RRFG)? Entities that own a place of business where the public or patrons assemble for the primary purpose of being served food or drink, including a: • Restaurant, Food Stand, Food Truck, Food Cart • Snack and Nonalcoholic Beverage Bar • Caterer • Bar, Lounge, Saloon, […]

What is the Employee Retention Credit (ERC)?

The Employee Retention Credit (ERC) is a tax credit available for small business owners, LLC’s, S-Corps or 1099 employees. Similar to the $1,200 stimulus check taxpayers received, this credit is designed to help small businesses during these trying times. The ERC is not a loan, it’s a tax credit, meaning that it does not have […]

Can I Use My Business Loan to Pay Off Credit Card Debt?

Under the right circumstances, using a business loan to pay off credit card balances can be a savvy move to manage debt. This is known as debt refinancing. It’s a strategy that can deliver numerous benefits for you and your business under the right circumstances. Business credit cards can be a convenient source of capital […]