This article highlights how easy it really is to find those who may have committed COVID-19 Relief fraud and several techniques that the government can and probably is using to find those who committed fraud from the pandemic funding programs.
BRP Onesta
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Why did my deal get declined? This is a common question that we get from our clients. While the economy seems to be tightening, there are common ways that borrowers can understand what lenders are looking for and avoid being declined for small business financing. In this article we review thousands of declined lending applications and narrowed 23 specific reasons for why small business owners get declined for small business financing.
A recent survey demonstrated that nearly 2 in 3 small business owners sought loans for their businesses in 2021. However, small business owners should have advance notice of what lenders are looking for from potential borrowers in 2022. This article gets at some of the characteristics lenders will ask borrowers who wish to secure financing for their businesses.
While the Economic Injury Disaster Loan (EIDL) and the Payroll Protection Programs (PPP) were beneficial for small business owners, as they say, “all good things must come to an end.” What it does not mean is that there are not great options out there for small business owners to take advantage of. We know that traditional bank loans and lines of credit are rarely out there but that does not mean access to financing has to be hard or expensive. In this article, we will share a list of 8 different financing products which are easy to attain, and in some cases will cost you nothing.
In recent weeks, I have been writing about how some small business owners took advantage of the generous funding to help small businesses during the height of the pandemic (The Zeroes of the Pandemic). Each day, more and more light is being shed about those who have defrauded our nation with EIDL or PPP fraud and again, I wanted to share more examples of what some people tried to get away with that in essence, shut out many of our clients and small business owners who deserved PPP or EIDL funds. In most cases, their actions made it easy for the government to catch.
Business owners tend to rely on borrowing money to grow their businesses. However, it is not without pain that many small business owners and entrepreneurs experience when borrowing money. In this article, we explore a bunch of damaging outcomes that occur when small business owners borrow money for their businesses. By sharing what we see every day from small business owners we hope to share some foresight for small business owners who wish to access financing for their businesses.
Small business owners and entrepreneurs must balance the grind of their work each day with the compliance requirements to run their businesses effectively and legally. One compliance attribute which our clients and others deal with each year is the filing of their annual report. In this article we tackle what an annual report is and provide resources for small business owners and entrepreneurs to complete their reports.
In the State of the Union Speech this past week, President Biden called for increased oversight into COVID-19 Relief fraud. This article provides some details of what the government is doing to find EIDL and PPP fraud. We include several easy steps that every business owner should take to be ready for if and when they are investigated or audited.
In 2021, about 1 in 37,000 US Small Businesses received an SBA 7(a) Loan. When Small Business owners can't access SBA Loans, they take other options like Merchant Cash Advances. We discuss pros and cons of MCAs in this article.