If you’ve applied for and received a Paycheck Protection Program (PPP) Loan, you likely did so with the intent of applying for loan forgiveness. The actual process to receive forgiveness has never fully been explained. At least that was the case until the SBA officially released its PPP Loan Forgiveness application just a few days ago.
While some business owners will be paralyzed by fear, others will see this as a time to innovate or even start a new business. Challenging times are the perfect opportunity to pivot to new ways of thinking.
Thankfully, the process for applying for these SBA loans has been simplified and streamlined. Here’s a guide to what you need to do and the documents you’ll need to get through the SBA loan process.
Cash flow management in a crisis is absolutely vital. It can mean the difference between stabilizing your business or falling behind. To gain control, you need to focus on operational activities that put cash in your hands.
The U.S. Small Business Administration announced on March 12, 2020, that they will be offering low-interest Economic Injury Disaster Loans of up to $2 million to impacted small businesses.
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