Forgivable Federal Loans for Small Business

Starting April 3rd, more than $350 billion in forgivable Federal loans will be available for small businesses, which is designed to cover about 50% of the private workforce. The Coronavirus Aid, Relief and Economic Security (CARES) Act was passed by Congress last week. There are several pieces to the legislation.

The Paycheck Protection Program is designed to cover eight weeks of a business’s payroll, mortgage interest, rent, leasing agreements and utilities. All small businesses are eligible whether you are a sole proprietor, independent contractor, or an employer with up to 500 employees.

In addition, the Economic Injury Disaster Loans and Loan Advance Program provides small businesses with working capital loans of up to $2 million to help overcome the temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid. If you take out a new SBA loan prior to September 27, 2020 principal and interest will be forgiven for the next six months.

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01 Feb

Interest Rate Hikes & Stock Performance

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09 Feb

Relationship Between Blockchain, Tether and Bitcoin

Blockchain technology is a protocol like http for the internet and webpages. It controls how the network operates but the code itself is not owned by anyone. This technology is game changing because it is essentially a giant ledger of information that cannot be altered. It can be used to track orders, payments, accounts, production, assets and other things. As a result, something of value can now be sent electronically without a third party institution. Currently, when we make a purchase or move money or assets from one person to another, we use a financial institution. Blockchain potentially removes the need for the financial institution.

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Forgivable Federal Loans for Small Business