Affiliation exemptions are loose, meaning that a church connected to the larger ministry could still qualify as a small business if it counts its employees as under 500. And, as is the case with all the SBA loans under the CARES Act, all that is required is a “good-faith certification”Read More →
How to check account status for existing SBA loan borrowers. Existing borrowers can use SBA Capital Access Financial System (CAFS) (caweb.sba.gov) to monitor the status of the following loan types: Paycheck Protection Program (PPP) All SBA disaster loans including COVID-19 EIDL and physical loss loans. What happens after SBA loanRead More →
These grants are not taxable for California. Established by the Economic Aid to Hard-Hit Small Businesses. Administered by the SBA. Eligible applicants can qualify for a grant equal to 45% of gross earned revenue, up to a maximum amount of $10 million. Are grants included in taxable income? In mostRead More →
Credibly is a direct lender of working capital loans and merchant cash advances. Through our partners, we offer SBA loans, business lines of credit, equipment financing, long term loans and invoice factoring. What lenders are SBA approved? The Best SBA Lenders for the SBA 7(a) Loan Program Live Oak BankingRead More →
The current estimate of when the SBA will inform you of the terms you have been approved for is 3-4 weeks. They will send you the approved loan documents for you to review, sign, and return. The SBA will then deposit the funds direct deposit within 3-5 business days. HowRead More →
Even if you have received an EIDL advance up to the full $10,000, you may still qualify to receive this $5,000. The total for the EIDL advances combined with the supplemental targeted advance may not exceed $15,000. What is Covid 19 targeted Eidl advance? Small businesses impacted by COVID-19 mayRead More →