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Key Takeaways Friday's rollout of the PPP program was met with confusion, frustration, and glitches. E-Tran has been the subject of many frustrations. New lenders must follow a two-stage process to set up access to E-Tran. Current lenders may not be able to log in to E-Tran because they forgot their E-Tran credentials or their login expired. There are several steps these users can take to troubleshoot.
The Paycheck Protection Program (PPP)—a federal government loan program aimed at helping small businesses impacted by the coronavirus pandemic—became available to independent contractors and self-employed individuals on April 10, 2020. . If you’re self-employed and looking for help understanding what the Paycheck Protection Program loan is, whether it applies to you, how independent contractors and self-employed workers can apply for a PPP loan, and what your next steps are, you’ve come to the r
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
Key Takeaways There will likely be a second wave of additional funds for small business aid. CFIs can still take advantage of the program and begin automating PPP loans in 48 hours. Automation is key to streamlining PPP loans and getting capital into the hands of small business owners quickly. Leveraging a third-party means having a partner to navigate a very fluid situation.
As small businesses across the country fight to remain in operation and generating revenue despite the coronavirus pandemic, making payroll has emerged as one of the biggest ongoing dilemmas for business owners. . Businesses are now compromised in terms of their ability to pay their employees, due to a combination of health concerns, shelter-in-place restrictions, limited foot traffic, and reduced spending by customers.
As small businesses across the country fight to remain in operation and generating revenue despite the coronavirus pandemic, making payroll has emerged as one of the biggest ongoing dilemmas for business owners. . Businesses are now compromised in terms of their ability to pay their employees, due to a combination of health concerns, shelter-in-place restrictions, limited foot traffic, and reduced spending by customers.
The average monthly payroll calculation is the most important part of the PPP loan application because it not only determines the size of the loan you can apply for, but it’s also the easiest area to make a mistake. We know this because Fundera has reviewed thousands of PPP applications in the past few days while discussing the final rule published by the SBA and the application itself with our bank partners.
Business Contingency Plan. A business contingency plan identifies potential risks to your business and outlines the steps or course of action your management team and employees would need to take to combat them. Risks can include a global pandemic, natural disaster, loss of a key employee, supply chain breakdown, a new competitor, and more. You can think of a business contingency plan as a Plan B or disaster recovery plan.
You’ve likely heard of both Square and Intuit QuickBooks before in the payment processing and accounting spaces, respectively, but what you may not have realized is that both companies provide payroll software for small businesses as well. . If you’re looking to streamline your payroll processes , finding the right software is key. However, with so many options on the market, it can be difficult to find the best one for your business.
10 Best Alternatives to BigCommerce for Small Businesses. Shopify. 3dcart. Volusion. Square Online Store. AmeriCommerce. Selz. PrestaShop. WooCommerce. Squarespace. Wix. Choosing the right ecommerce platform is essential to the success of your online store. After all, you’ll not only use your ecommerce platform to build and launch your store, but also to facilitate the whole of your operations—including everything from marketing to inventory management to shipping.
10 Top Stripe Competitors. Square. PayPal. Adyen. 2Checkout. WePay. Authorize.Net. Braintree. Payline Data. PayJunction. Fattmerchant. If you’re exploring different payment processing solutions, particularly for accepting payments online, it’s likely you’ve come across Stripe. This developer-friendly, online payments platform has quickly grown to become one of the most popular and well-known solutions in the merchant services industry, especially among ecommerce and other online-based businesse
Businesses make money by selling their products or services to customers who want or need those products or services. Simple, right? After all, that basic concept has underlain commerce for thousands of years. While this is true, it is something of an oversimplification, writing off certain critical questions. Namely: How does the business acquire the products that it eventually sells, and how does the business get those products into the hands of its customers?
Selling your products online can be tricky. The overall conversion rate for ecommerce sales in the U.S. currently sits at about 3%. That means that the vast majority of visitors to your site—about 97% or so—leave without making a purchase. . Meanwhile, 76% of online shoppers ultimately abandon their shopping carts. Some of this is out of your control.
Paying business taxes as an independent contractor can be tricky—you have to file additional forms, make sure you’re paying the government enough during the year, and pay a self-employment tax. . And with contract work making up 20% of the jobs in the U.S., more and more people are having to learn just what’s involved in filing. This complete guide walks you through what independent contractor taxes you’re responsible for, as well as how you pay, deadlines and more. .
If you’re in the market for business financing , it makes sense to consider online lenders along with (or even instead of) traditional bank financing. Typically, online platforms have much less stringent eligibility requirements than banks do, so they can offer financing to businesses that have been at a historical disadvantage in the lending space. .
Key Takeaways BSA requirements still apply to Paycheck Protection Program loans. Provide a BSA refresher course to your lending staff. While these loans are 100% guaranteed by the SBA, fraud is still a concern. On March 27, President Donald Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide emergency assistance for those affected by the coronavirus pandemic.
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