SBA and ITFA Form Alliance: What does this mean for U.S. exporters?
Through their Office of International Trade, the SBA published a Total Addressable Market Study, projecting the U.S. export market’s potential to double in size to 2.6 million businesses. By formalizing its partnership with ITFA, the SBA can connect its existing and future constituents with financial and banking experts, as well as key service providers for the industry.
Qualifying to be a Small Diverse Business
If your business qualifies, Small Diverse Business certification can provide benefits under both Pennsylvania and federal law. Certification in Pennsylvania is a straightforward process that can be accomplished simultaneously with federal certification.
Paycheck Protection Program Round Two – Are You Eligible to Pursue a Second Loan?
On Monday, January 11, 2021, the U.S. Small Business Administration (the SBA) along with the Treasury Department re-opened the Paycheck Protection Program (PPP) for both new and existing borrowers. This article focuses on existing PPP borrowers and outlines the steps to take to apply for a second draw PPP loan. Business principals considering a PPP […]
SBA Procedural Notice for PPP Loan Forgiveness
On July 23, 2020, the Small Business Administration (SBA) issued a procedural notice to lenders participating in the Paycheck Protection Program (PPP) concerning the loan forgiveness application process. The notice informs lenders that beginning August 10, 2020, they may begin submitting forgiveness applications through an online platform. The notice states that the SBA intends to […]
Prepare Today for Expected Additional PPP & EIDL Funding
Later this week and possibly as soon as Thursday, April 23, 2020, it is anticipated that Congress will approve an additional $310B in Paycheck Protection Program (PPP) funding and allocate an additional $10B for Emergency Injury Disaster Loans (EIDL) after the initial round of funding for both programs quickly dissolved. As with the first wave […]
COVID-19: Emergency Financing Options for Businesses (April 1)
(Updated April 1, 2020) The COVID-19 (Coronavirus) outbreak has left a lot of businesses struggling financially due to closures, reduced workload and supply chain issues. To assist businesses during these extraordinary times, local and federal resources are being allocated to provide various emergency funding options. This chart helps simplify the government financing options currently available, […]
COVID-19: SBA Offers Low-Interest Federal Disaster Loans
(Updated March 24, 2020) FLB’s Corporate, Business and Banking group attorneys are here to support small businesses and nonprofits as they face challenges presented by the current COVID-19 (Coronavirus) outbreak. The U.S. Small Business Administration (SBA) is partnering with designated states and territories to offer low-interest, long-term federal disaster loans for working capital to small […]