As part of SBA’s debt relief efforts, The SBA will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for a period of six months. The SBA will also automatically pay the principal, interest, and fees of new 7(a), 504, and microloans issued prior to September 27, 2020.… Read More »Buying A Business? NOW is the time.
April 8, 2020 “Borrowers and lenders may rely on the guidance provided in this document as SBA’s interpretation of the CARES Act and of the Paycheck Protection Program Interim Final Rule (“PPP Interim Final Rule”) (link). …” If applying for PPP, Tim Collins, Texas Capital Bank, states that your… Read More »Paycheck Protection Program Loans FAQS – as of April 7, 2020
April 8, 2020 The International Business Brokers Association (IBBA) hosted a webinar with Monty Walker on Monday titled “How Business Brokers Can Claim Personal Cash Benefits from the SBA.” Attendance was overwhelming. Although focused on and for Business Brokers, this information is the same for any Independent Contractor or Small… Read More »Do I Qualify? SBA Benefits 101 for Independent Contractors and Small Business Owners
April 7, 2020 April 7th is world health day, a day to celebrate the work of health care professionals and remind world leaders of the critical role they play in keeping the world healthy. We want to say THANK YOU to all the healthcare workers, especially those who are battling… Read More »World Health Day 2020 – We salute you
April 7, 2020 UPDATE: Why are banks focusing on current clients? From our sources, lenders’ current clients have been vetted and they know these are ‘real’ companies and people. IF your bank is at its limit (e.g., Wells Fargo) or those whose systems are not accepting paperwork, be sure to… Read More »How to move your PPP application to the top of the line?
Marketers will sometimes talk about 4, 5 or 7 P formula of selling. Known as the “marketing mix,” the emphasis a company puts in each area can have a direct impact on sales and profits. Please note, selling a business is not like selling a product, although similar factors impact… Read More »The “Five P’s” of Selling Your Business
The U.S. Chamber of Commerce has created this business guide and checklist for COVID-19 emergency loans.
We all like to save money on our taxes. However, hiding personal expenses in your business tax return may do more harm than good. Most businesses are purchased as a multiple of cash flow (EBITDA). If buyers and lenders can’t find your personal expenses in the financials, they’ll be suspicious… Read More »Drive Cash to Your Tax Return’s Bottom Line – Net Income
March 30, 2020 Thank you to Ashley Adams for sharing this information! The U.S. House of Representatives passed the $2 trillion CARES bailout package on a voice vote Friday and it has officially been signed into law by the President. You can find more details in this helpful summary article.… Read More »Small Business Federal and State Update on COVID-19
March 29, 2020 I am not going to regurgitate the “trying times” and “focused on the safety and well-being” speech – you’ve heard it and if you’re like me, you know it. Instead, below are some information and suggestions you can actually use: Small and medium business transactions are likely… Read More »COVID-19 Business Owner Information and Suggestions