Helping Businesses Grow & Succeed
The Small Business Administration has raised the cap on COVID-19 related loans from $500,000 to $2 million, to help small businesses recover from the COVID-19 pandemic. The agency is set to begin approving loans with the higher caps Oct. 8. EIDL applications will close Dec. 31, 2021, unless the program’s […]
What’s the No. 1 reason small businesses fail? Cash flow, not lack of profits. About 80% of small business failures happen because of poor cash-flow management. Ray Juncosa, a consultant at Florida SBDC at FIU and a finance specialist, says he hears it all the time from his clients: “They say ‘we […]
Fees can add up when obtaining an SBA small business loan. Here’s some good news on that front. Starting Oct. 1, 2021, through Sept. 30, 2022, the US Small Business Administration will waive both the upfront guaranty fee on the 7a, Express and EWCP loans, among others, as well as the ongoing servicing fee, for amounts up […]
Ray Juncosa, a consultant at Florida SBDC at FIU and an expert in business finance and access capital, doesn’t mince words. “If you don’t have a grasp of your finances, it will be difficult to succeed,” he tells small businesses. As a small business owner, you need to understand your […]
By Dileep Rao – Guest Contributor There will never be enough early-stage venture capital (VC) to satisfy the world’s venture hopes. But these hopes may be misguided by the myths—and the hype—of VC. VC has many holes that need to be plugged: VCs finance very few and succeed on fewer. […]
A Coral Gables-based bank and local nonprofit have renewed their micro-grant program supporting micro-businesses. Amerant Bank recently announced it’d be continuing the initiative it began with Branches, a community empowerment org, amid the pandemic last year. The partnership’s micro-grant program sought to provide funds to mom-and-pop operations who were hit hard by […]
Here is an Aug. 11, 2021 press release with information about the Shuttered Venue Operations Grant program offered by the SBA. The deadline looms: Aug. 20. Today, the U.S. Small Business Administration is announcing a call to all eligible Shuttered Venue Operators Grant (SVOG) applicants seeking economic aid for live entertainment small […]
“Government contracting is a long game – you have to be approaching it with a strategy,” says George Ray III, a consultant for Florida SBDC at FIU. “If you don’t have a plan, you almost plan to fail. It’s highly competitive, I can’t stress that enough,” Fortunately, Ray has great […]
The Small Business Administration kicked off its Restaurant Revitalization Fund grant program this week. On day one, Monday, it delivered more than $2 billion in grants to more than 16,000 applicants. The SBA said approved grant recipients could see the money in their accounts are early as the next day. […]
The U.S. Small Business Administration announced today that the Paycheck Protection Program (PPP) has exhausted core funding after a year in operation and serving more than 8 million businesses. The SBA will continue funding outstanding approved PPP applications but new qualifying applications will only be funded through Community Development Financial Institutions (CDFIs) […]