Helping Businesses Grow & Succeed
Scenario 1: Many small businesses, particularly in the hard-hit restaurant, travel, event planning and retail sectors, had to lay off or furlough most of their workforces when the economy was largely shut down. Now they may need to hire a number of employees again – and the competition is tough […]
Small businesses eager to have their SBA Paycheck Protection Program loans forgiven could begin receiving forgiveness decisions in the coming weeks. That may ease the fears small businesses worried that they may be on the hook for the money when they are barely holding on through this coronavirus crisis. But […]
The java tastes unique and delicious in a shop that delivers an uplifting and welcoming experience. And all the while, the proprietors are successfully facing down the challenges of the pandemic economy. Gail Hamilton Azodo and her husband Uchendu Azodo opened SIPS, a coffee roasting company and eatery, in July 2019 […]
Michael Sellinger of Miami Bayside Foundation recalls the early days of the COVID-19 crisis checking in on small business clients and offering MBF’s help. Bayside is a nonprofit organization that mentors, holds training programs, and facilitates loans for small businesses in Miami’s underserved communities. His message: “There is nothing you can […]
By Andrew Latham, Guest Contributor / Nav Life insurance is not just for people. Many companies benefit from buying life insurance for key employees as part of their business continuation and succession planning. Seven out of 10 small businesses surveyed by the National Association of Insurance Commissioners said they were […]
Not a headline you want to see: Miami metro area in top 10 in U.S. for business closures. But here we are. In Yelp’s most recent economic impact report for September, which focuses on business closures caused by Covid-19 from March 1 through August, the Miami-Fort Lauderdale metro region had […]
Miami-Dade small businesses will receive more CARES Act assistance from the county. The County Commission will be allocating an additional $5 million in Covid-19 relief funds for micro-businesses in unincorporated areas of Miami-Dade County. Miami-Dade established the RISE Miami-Dade Fund, its revolving loan program, in June with a $25 million […]
Small businesses are breaking up – with their banks In South Florida as well as around the nation, small business owners applying for the Paycheck Protection Program often struck out with big lenders like BofA or Wells-Fargo – even when they had been loyal customers. They had better luck with […]
“This is the worst small-business crisis of my lifetime, and I’ve seen a number of tough moments,” said Karen G. Mills, who led the U.S. Small Business Administration from 2009 to 2013. “I’m quite concerned that we haven’t even seen the tip of the iceberg of business closures.” In the […]
By Gerri Detweiler – Guest Contributor When it comes to small business lending, SBA loans are hot. In fact, in fiscal year 2019, the U.S. Small Business Administration guaranteed over $28 billion to entrepreneurs that otherwise would not have had access to capital to start, grow, or expand their small businesses. Business loan approval, […]