The U.S. Small Business Administration (SBA) recently announced an additional deferment period of principal and interest payments for existing COVID-19 Economic Injury Disaster Loans (EIDL). Borrowers have a total of 30 months of deferment period from loan origination on all COVID EIDL loans. This is a change from the previous deferral period of 24 months.
Below you will find some additional information about the new deferment period on EIDL loans:
Small business owners have time to file their 2021 tax returns until April 18, 2022. While the season is quickly approaching, many entrepreneurs may be wondering about new changes to filing taxes or the best software to utilize in order to stay on top of their fiscal responsibilities.
Below you will find a list of resources that can help you file your tax returns and stay on top of your fiscal responsibilities.
Microbusinesses in select counties in California may now apply for small grants from the California Microbusiness COVID-19 Relief Grant Program. The program, which is funded by the State of California and administered by the office of the Small Business Advocate (CalOSBA), provides competitive micro grants of $2,500 to eligible microbusinesses impacted by the COVID-19 pandemic and the related health and safety restrictions put in place.
Grants provide critical funding for small businesses that may need additional capital to start or grow their businesses. To celebrate Black History Month, we have compiled a list of grant opportunities available to Black entrepreneurs to help them grow their businesses and recover from the pandemic.
Power Forward Small Business GrantAccepting applications on a rolling basis
The Governor’s Office of Business and Economic Development launched the California Competes tax credit, a tax deduction program available to small businesses that want to relocate or stay and grow in California. All businesses, regardless of size, industry or location can apply to receive this credit during three application periods each year. Applications will be reviewed and analyzed on a number of factors, including number of full-time jobs created, investment amount, and importance to the state or region.
If 2020 and 2021 have taught us anything, it’s that preparation is key to running a small business, as are flexibility and determination to shift the course in unique situations. We’ve put together seven resolutions for small business owners to keep in mind as they navigate the new year.
As the new year begins, new laws are taking effect that impact small businesses. Please see below for a compilation of recent changes that may affect your small business in 2022.
Whether you’re offering your products and services online, in-store or both, the holiday season has arrived. This is the perfect time to reach new customers, boost your bottom line and achieve your goals for the year. To help you stand out from the crowd as you compete with other small businesses in your area and large competitors, we’ve put together a few helpful tips to get you through the busiest season of the year.
This year, the American Rescue Plan (ARP) is providing more financial assistance for small business owners, self-employed entrepreneurs and small business employees who are looking to access healthcare through the individual marketplace. Through the ARP’s improved investments, it’s estimated that 4 out of 5 consumers can find a HealthCare.gov plan for less than $10 a month. Small business owners will be able to find affordable health insurance plans that cover everything from doctor’s visits to preventive health to prescription drugs.
More than a year and a half into the pandemic, many small businesses are unsure if they will be able to recover after fighting to stay above water and accruing crippling debt. Small business owners of color, women and immigrants have been disproportionately impacted by the pandemic as they’ve faced barriers to accessing federal relief programs and traditional lending. Small business owner Daysi Del Rosario Rivas Peralta is one example.
