SBA Opens EIDL Targeted Advance Grants To All Businesses

A few days ago, the SBA opened the Targeted EIDL Advance Program that offers a $10,000 grant to all businesses. Prior to this, it was only offered to businesses that had applied for an EIDL Loan. The application can be found at the following link....

The Life Insurance Ripoff

I wanted to continue my series on retirement planning for entrepreneurs by dealing with one of the most common mistakes perpetrated on us by the so-called financial planners. Have you ever noticed how you call a financial planner, they get a bunch of background...

New Approaches To The Employee Retention Credit

We are currently handling these for about 115 entities. In doing this and the necessary research, our knowledge has become rather extensive. Given the fact that the ERC is almost the last “free” money out there, I’d like to provide a few updates. ERC...

SBA Wants To Raise EIDL Limit To $2M

In an interview with The Business Journals earlier this week, SBA Director Isabel Guzman was quoted as saying that the agency is now working on the technology upgrades needed to increase the EIDL loan limit up to $2M. Earlier this year, the agency increased the limit...

SBA To Open EIDL Grant To All Eligible Businesses

The Small Business Administration will open the Targeted EIDL Advance Grant to all eligible small businesses in the near future. The expansion of the program is expected in the next few weeks. Before this, the EIDL Grant was by invitation only for those who had...

The Social Security Ripoff

Over the weekend, I saw a post on a social media site that stated the following. “By the time I am 67, over $600,000 will be paid into Social Security on my behalf. That money would have been worth $1.9M if I had received a 5% return. My annual interest would be...

Status Update On SBA Programs

We are still getting questions about what is still available, so here’s an update on the major programs. PPP Loan Program The portal is officially closed. The PPP Loan Program has officially ended. Nothing, nada, zilch is available. EIDL Grants Still available....

The New Administration’s Tax Proposal

The New Administration’s Tax Proposal We knew it was coming. Some of it’s good and some of it’s bad, depending on your perspective. Let me emphasize that this is only a proposal. Many look at it as a guide book for where the administration’s...

Last Chance PPP Lending

Applications for the final round of PPP lending will be accepted until Monday, May 31st. The Government is reporting that about $3B is left out of the $800B program. Over the course of the program the SBA has approved 11B loans. There are only a few community and...

Employee Retention Credit Update

We are continuing to get questions about this program, probably because the PPP money has been exhausted and the EIDL money is so hard to get. So let’s go back over the basics. Do I Qualify? If your business was hindered by the pandemic, such as not being able...