As cities, states, and countries mull over how to tackle the Delta variant of COVID-19, the SBA has announced it is expanding the Economic Injury Disaster Loan (EIDL) cap to $2 million. In addition to increasing the cap, the SBA will also implement a deferred payment period, establish a 30-day exclusivity window, expand eligible use of funds, and simplify the affiliation requirements.
This week’s roundup begins with SBA Increases EIDL Loan Cap by $2 Million for Delta Variant Problems . The article goes into further detail about what the SBA is doing to better help small businesses as they deal with the never-ending challenges of COVID-19. The expansion of the EIDL cap is going to make it possible for business owners to ask for additional funds by increasing the limit from $500,000 to $2 million. This applies to both new applicants and those who have already received an EIDL.
Biz2Credit reports that small business loans have been approved by banks and non-bank lenders. Facebook on the other hand is taking a different approach to helping small businesses by buying $100 million worth of unpaid invoices from 30,000 women and minority-owned businesses.
Small Business News – September 17, 2021
Take a look at all of the other articles covering small business issues in this week’s roundup.
An Influencer is the second most misunderstood job in the US. A report from Business CenturyLink, internet, and VoIP service providers for small business, found that the role of “Influencing” is often misunderstood and confused. An Actuary is the top-ranking job listing, followed by Influencer. A Data Scientist is third.
The Biz2Credit Small Business Lending Index for August reveals banks and non-bank lenders approved more loans in August. This includes both large and small banks, as well as alternative and institutional lenders. Only credit unions didn’t see any change, staying the same for the past two months with a 20.5% loan approval rate.
Quora has announced the launch of its new subscription plan Quora +. Q&A’s social media platform offers subscribers exclusive content from Quora+ curators and creators. This means that writers would be able to share the revenue from Quora+ subscriptions.
Facebook announced it is buying $100 million of unpaid invoices from 30,000 women and minority-owned businesses. These invoices will be purchased through the Facebook Invoice Fast track program to ensure that owners have enough cash to continue their business operations.
Becoming an Amazon Flex driver is a great way to earn extra cash. You can use the money to save for vacations or pay off student loans. You can also use the money you earn to achieve other financial goals. You have the option to choose how much time and effort you put into your work. Amazon Flex drivers work independently.
You may have thought about the benefits of offering free WiFi to your customers in your business. This makes sense considering that mobile device users spend a lot of time online. If your revenue is dependent on the traffic to your doors, it makes sense.