Last week, the SBA announced that the SVOG program will be closing to new applications at 11:59 pm PT on Friday, August 20, 2021. This program provides grants for live venue operators, promoters, arts organizations, and other businesses that were closed due to the COVID-19 pandemic.
THE AMERICAN RECOVERY PLAN ACT (ARPA)Paycheck Protection Program (PPP)Last week, the SBA opened a portal that allows businesses to apply for forgiveness of PPP loans of $150,000 or less directly. Lenders must agree to use the portal, or this simplified option won’t work for the borrower. While about 900 lenders have so far signed on, the big banks are opting out.
Every business needs a financial plan. Your financial plan gives you a way to monitor and review your cash flow, make adjustments to your spending, and anticipate any upcoming financial issues. It can also make you more prepared to request funding or find investors so you can bring more money into your business.
