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07 Jan
COVID-19 RESOURCE LIST FOR EMPLOYERS

Coronavirus 2019 (COVID-19) Resources for Employers

NEW LEGISLATION AND CONSOLIDATED APPROPRIATIONS ACT American Rescue Plan Legislation IRS Notice 2021-20 Guidance on the Employee Retention Credit under Section 2301 of the Coronavirus Aid, Relief, and Economic Security Act PPP Second Draw Loans PPP First Draw Loans H.R. 133 Consolidated Appropriations Act Massachusetts Small Business Relief Package PPP-ERC-FFCRA Webinar Slideshow MA Attorney General […]

07 Jan
Online Business Loans in 2022

Best Business Loans for 2022

  In 2022, small business owners continued to rely on online lenders as a source of financing. There are six main reasons for this: Small businesses are still hesitant to obtain financing from traditional lenders (such as banks) With online lenders, the process of application and approval is simplified for the borrower Increasingly, online lenders are […]

06 Jan
SBA general contractor loans

SBA Loans for Illinois Construction and Remodeling Companies

Construction accounted for $30.9 billion (3.4%) of Illinois’s $897.1 billion GDP. According to the U.S. Bureau of Labor Statistics, there were 706,000 construction firms in 2017, including 28,973 in Illinois. SBA EIDL Disaster Loans for Illinois Construction and Remodeling Companies As part of the SBA’s Economic Injury Disaster Loan (EIDL) program, businesses affected by a […]

03 Jan
small business loan

Lending trends for small businesses in 2022

The recent pandemic has disproportionately impacted small businesses. A number of local companies that had suffered financial losses faced slowdowns and even closures. With business slowly picking up in 2021, merchants are struggling to pick up where they left off while having next to no money set aside for the expenses of doing business on […]

27 Dec

Do SBA loans take a long time to be approved?

The Small Business Administration typically takes a significant amount of time to approve your loan application. Nonetheless, many business owners attempt to obtain funding through the Small Business Administration. This is due to the fact that they are aware of the fact that it is one of the most affordable methods of obtaining capital for […]

23 Dec

How Does An SBA Guaranteed Loan Work?

SBA Guaranteed Loan A government program known as the Small Business Administration (SBA) is designed to encourage financial institutions to lend to small businesses that would otherwise be ineligible for funding. Many factors play a part in this, including insufficient business time, insufficient experience, insufficient personal liquidity, or insufficient credit history, among others. The Small […]

17 Dec

COVID EIDL applications must be submitted by Dec. 31, 2021

In 2021, the COVID Economic Injury Disaster Loan (EIDL) program will end. Business owners, non-profit organizations, and other eligible entities must apply by 10:59 pm CT that day in order to be considered. Highlights of COVID’s EIDL program Throughout COVID-19, the SBA made program enhancements to support businesses. The COVID EIDL lending cap has been raised […]