More than half of small business loans from the Paycheck Protection Program (PPP) went to larger businesses, leaving small and minority-owned businesses to suffer through pandemic-related losses. Many have closed or temporarily closed. Thankfully, the Small Business Administration (SBA) has just launched a $28.6 billion relief initiative to help those businesses hardest hit by COVID […]
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 […]
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 […]
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.
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:
September is drawing to a close, and emergency relief payments are drawing to a close. What does this mean for small business owners?
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 […]
The accepted truth is that COVID-19 is changing the way we do business. But Loan Mantra knows you’re also concerned about the here-and-now. That’s why we’re here to help your business weather the financial storms brought on by the pandemic while you prepare well for tomorrow. Loan Mantra has developed a list of popular and […]
For U.S. small business owners who received PPP loan assistance, one question plays over and over in their minds: What happens next? What happens next: In the months since the PPP was originally passed as part of the $2 Trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, U.S. industry leaders, financial institutions, advocacy groups, […]
