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The SBA Needs To Get It’s Act Together On The PPP

VC Adventure

The SBA’s implementation of the Payroll Protection Program (PPP) has been a mess. In particular, the SBA has given inconsistent guidance that continues to change and evolve, leaving companies left to wonder if they qualify or not. The program’s original $349 billion was allocated between April 3 and April 16.

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SBA Paycheck Protection Program (PPP) Loan Estimator

Feld Thoughts

Unsurprisingly, numerous SBA PPP Loan calculators have appeared on the web. I’m going to refer to it as the Mostly Simple, Super Clear, SBA PPP Loan Estimator. Please consult your bank’s calculator and program paperwork to determine actual loan and forgiveness amounts.

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Thoughts For VC Backed Companies Considering SBA/PPP Loans

Feld Thoughts

My partner Seth Levine recently put up an extremely thoughtful post titled SBA PPP Loans Aren’t for Everyone. However, the reality is that receiving a loan for your business means it isn’t going to another business that might also deserve the money so receiving a SBA loan does come at a cost to the broader small business community.

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What Small Businesses Can Do To Survive And Thrive During The Pandemic

YoungUpstarts

On their website, you can learn more about the Paycheck Protection Program or PPP, the EIDL Loan Advance, the SBA Express Bridge Loans, and the SBA Debt Relief. The Express Bridge Loan enables small businesses that have a business relationship with an SBA Express Lender to get up to $25,000.

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Is Life Insurance Required For Your SBA Loan Approval?

YoungUpstarts

When applying for a loan through the Small Business Administration (SBA), you have to meet some basic qualifications. Once you meet the SBA’s requirements for being a small business, you’ll need to meet an additional set of requirements provided by your lender. Why is life insurance required to get an SBA loan?

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SBA Coronavirus Related Loan Programs

The Entrepreneurial Mind

The SBA has two loan programs for small businesses impacted by coronavirus. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses […].

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Vital Tips For Small Businesses And Entrepreneurs During Covid-19  

YoungUpstarts

The Small Business Paycheck Protection Program provides small businesses with funds to pay up to eight weeks of payroll costs including benefits. The great news about this program is that the loan will be forgiven if it’s used in this manner, so if you’ve already let your employees go, you can bring them back and pay them using this money.