Good news: On September 7th, 2021, the U.S. Small Business Administration announced the COVID EIDL cap will increase from $500,000 to $2,000,000.  Even more, the cap for a single corporation will increase to $10.0 million. Though you can apply for a COVID EIDL loan of more than $500k today, any decisions on funding will occur […]

Restaurant Revitalization Fund: 4 Things to Know Before Applying

Restaurant Revitalization Fund: 4 Things to Know Before Applying

Earlier this year, The U.S. Small Business Administration (SBA) allocated $28.6 billion dollars to the Restaurant Revitalization Fund (RRF), a grant program announced as part of the American Rescue Plan Act. Tomorrow, on Friday, April 30, 2021 at 9 a.m. EDT, registration on the SBA portal for the RRF will begin. Though registration begins tomorrow, […]

To the Rescue: What the American Rescue Plan Act Means for EIDL & Other Grants

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 […]

To the Rescue: What the American Rescue Plan Act Means for EIDL & Other Grants

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 […]

You Can Still Be Forgiven: The Virtue of Patience in PPP Loan Forgiveness

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 […]

Follow the Money: Economic Relief Loans Available to You Now

Follow the Money: Economic Relief Loans Available to You Now

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, […]