Choosing the right type of loan for your law firm practice can be tricky and confusing, due to the large number of available options, and the sometimes complicated terms and fees. Here are some tips to help you navigate the world of law firm loans.
The economic impact of the COVID-19 pandemic has been harsh, particularly on small businesses. Fortunately, there have been a number of loan and grant programs open to small business owners to offer financial help during these tough times, one being EIDL.
With Round 2 of the Paycheck Protection Program (PPP) ready to kick-off the second week of January for community-based lenders, businesses may be wondering where they should go to apply for a first or second draw PPP loan. For many businesses, the most natural place to apply will be their bank. Read on for a list of the top banks with which to apply for a second round PPP loan.
To help shuttered live event venues stay in business long enough to return once the pandemic is over, Congress has approved a new grant program specifically targeted at businesses that host entertainment, both live and recorded.
Guidance for the new and improved program was released January 6, 2021, with the program expected to be online by January 21. With thousands of small businesses under unprecedented stress, you can expect demand for these programs will be extremely high.
A second round of PPP funding has been approved by Congress for 2021. Want to apply for a PPP loan online? Here are the best online lenders participating in the second round of PPP loans.
The second round of PPP grants $284 billion to business owners in the form of forgivable loans. As government mandates continue to keep some businesses shuttered or under strict regulations, a PPP loan could be just what you need to keep your business on track in 2021, regardless of whether or not you participated in the first round.
Pitching competitions can be a great way to get your foot into the door to the investment world. You’ll have a captive audience and the opportunity to make connections that can aid your business endeavors far into the future.
Short-term business loans can be just the thing to see your business through unforeseen challenges or to help you take advantage of time-sensitive opportunities. If you can pay back your loan in a timely manner, you’ll have overcome your temporary hurdle, dodged the debt trap, and positioned your business for future success.
Lenders want borrowers to pay as much interest as possible, which is why some loans discourage and penalize early payment through the use of prepayment penalties. However, using the strategies outlined in this article, you may be able to make prepayments on your business loan while avoiding or minimizing any penalties, even if your loan does include a prepayment penalty.
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