The COVID-19 pandemic has caused widespread economic chaos, no more so, perhaps, than for small and medium-sized for-profit businesses and nonprofit organizations. With that demographic in mind, the Federal Reserve announced the Main Street Lending Program back in April, and the highly anticipated loan program is finally underway. Five-year loans ranging from $250,000 to $300 [...]
Things have certainly changed since our last blog, in April, when the economic disruption from COVID-19 was in its infancy. All these months later, things are still in flux, with many business owners looking for creative solutions to keep their heads above water during this unprecedented time. With many years of experience serving as a [...]
Many businesses are struggling in light of the rapid spread of COVID-19, which has resulted in many states “locking down” residents and allowing only essential businesses to operate. While this is certainly an extreme, unprecedented situation, it’s a harsh way for many businesses to see firsthand how cash flow deficiencies can affect their day-to-day operations. [...]
While taxes should be a year-long concern for business owners, it’s commonly accepted that tax season starts ramping up every year in February and comes to a crescendo on April 15, the deadline for filing taxes on income earned the previous year. Since we’re right in the middle of that window, we thought we’d focus [...]
The start of a new decade offers plenty of opportunities to take a hard look at your business and decide if you’re headed down the right path. Staying current with buying trends is one way to ensure you’re doing all you can to make it easy for customers to do business with you. For example, [...]
Even if you choose not to make personal New Year’s resolutions, the start of a new year — and right now, a new decade — provides a great opportunity to make some business resolutions. Whether you’re flying high or struggling a bit, the following three resolutions are certainly appropriate as you seek to maintain your [...]
We’ve heard many different reasons from business owners as to why they haven’t investigated getting a business loan with us. Yes, we’ve heard it all. But the one reason that perhaps makes the least sense is that they fear even being pre-approved will have a negative effect on their credit score. It won’t. The [...]
The hotel and motel industry has experienced robust growth over the past five years — despite being highly susceptible to changes in the global economic environment. PwC’s midyear Hospitality Directions U.S. outlook expects the industry to remain stable through 2020, but there are some storm clouds on the horizon; the industry reported its lowest first-quarter [...]
Specialty medical practices play an extremely important role in society, helping patients minimize pain, recover faster from disease, and learn to live with disabling injuries or chronic conditions — not to mention saving lives. Their focus on providing care makes it easy to overlook the fact that medical practices are businesses that need to be [...]
Is good oral health important at workplaces? More so than you might think — since it’s been proven people who take care of their mouth, teeth and gums not only have fewer dental issues, but better overall health. According to the National Association of Dental Plans, 77 percent of Americans have dental coverage through an [...]
Small business owners have had more of a struggle to obtain funding over the last few years. This was largely due to the financial crunch and subsequent recovery. Commercial banks became stricter with their small business loan regulations. This made it extremely difficult for small businesses to obtain finance from traditional sources. Banks are lending [...]
Today’s economy is changing rapidly, and women in business are playing a big role in it. Women owning small businesses are a fast-growing segment of the economy. Being a woman in business demands patience, hard work and the financial reserves to service the needs of the business. Every small business needs a hand with this [...]
