As business owners and lenders prepare to participate in the Second Draw of the Paycheck Protection Program, the following overview regarding terms and eligibility may be helpful:
To the Rescue: What the American Rescue Plan Act Means for EIDL & Other Grants
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 into law. The Act offers $1.9 trillion dollars in a relief package designed to help Americans recover from the pandemic. The following funds are allotted to small business recovery, targeting the most hard-hit industries as designated by NAICS codes through ongoing […]
And There’s More: PPP 2.0 Extended Through May 2021
As the end of March looms near, the U.S. Senate approved a bill to extend the Paycheck Protection Program application deadline, moving it from Wednesday, March 31st until May 31st, 2021.
How Will Loan Mantra Help You with the Second Draw PPP?
Finally, PPP 2.0 is here! And as always, your partners at Loan Mantra and Hudson Capital are here to help you. To make the Second Draw PPP process as seamless and transparent as possible, we’ve outlined the following steps to help you navigate the Program. Here’s what you need to know: To all existing Loan Mantra […]
How Will Loan Mantra Help With More PPP Funding?
The holiday season is here, and U.S. Congress has until midnight, December 18th, 2020 to hammer out a deal to garner additional economic aid for struggling small businesses. As death tolls from COVID-19 near 300,000, citizens are anxious over their physical health and their road to economic recovery. But whether D.C. arrives at consensus on […]
Thank You for Everything You Do: Here’s to the Small Business Lenders
Like healthcare and essential workers, those in the SBA lending industry deserve our gratitude this Thanksgiving season. We, as small business lenders and advocates, have worked around the clock to administer PPP lending and forgiveness. This drive comes from our desire to see our communities, and the lifeblood of our economy, restored to some normalcy. […]
How Do U.S. Election Results Impact the Paycheck Protection Program?
It’s a marathon, not a sprint–David Solomon It’s been three weeks since the U.S. Presidential elections. Since then, there has been elevated chatter about what a transition in administration will mean for the thirty million members of the small business community come January, 2021. Small business owners voted their interests but remain anxious about what […]
Is More Debt Relief on the Way?
September is drawing to a close, and emergency relief payments are drawing to a close. What does this mean for small business owners?
Powered by BLUE: A Borrower’s Guide
What does it mean to be “powered by BLUE™?” For years, this question has driven the Loan Mantra ethos. Though an acronym for “Business Lender Underwriting Environment,” the BLUE™ platform is far more than pith. It’s an ecosystem. Designed with the small business borrower in mind, the platform takes historically confusing and opaque financial services […]
You Can Still Be Forgiven: The Virtue of Patience in PPP Loan Forgiveness
Main Street and the U.S. Small Business economy have been major discussion points in the media and around dinner tables since the coronavirus pandemic began, upending consumer behaviors and the marketplace. The frenzied, and oft politicized discussion, reached amplified levels on August 8th when the U.S. Paycheck Protection Program closed to applicants and as borrowers […]