Source: Business News Daily
Negotiating your first lease for office or retail space can be intimidating for new business owners. Here’s how to make the process go smoothly.
– A commercial lease should include the lease term and type, rent amount, security deposit details, permitted use clauses, exclusive use clauses, and details about maintenance and renovations.
– The most important thing you should do before you sign a commercial lease is to learn the language in it.
– Consider seeking out professional advice before you sign a commercial lease.
This article is for first-time commercial lease signers or lessees who want tips about what to look for in a commercial lease.
Read the full article: https://www.businessnewsdaily.com/7619-negotiate-commercial-lease.html
September 18, 2021 | admin
Source: Business.com
Bridge loans are a form of short-term funding intended to help your business buy assets or complete projects.
A bridge loan is a form of short-term financing that is designed to help a company meet its obligations until it secures a long-term business loan. This type of business loan is commonly used in commercial real estate and other transactions where timing is key and businesses need to secure funds quickly in order to take advantage of an opportunity.
When a business takes out a bridge loan, it uses the proceeds to purchase or improve assets, or to finance its own operations. Then, once it secures long-term financing, it uses the funds from the new long-term loan to pay off the bridge. Businesses use bridge loans (which often carry interest rates several points higher than conventional long-term financing) to fill short-term funding gaps. These include asset purchases, such as real estate, equipment, and inventory.
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April 10, 2021 | admin
Source: Lendio
Paycheck Protection Program (PPP) loans are designed to help small businesses—and nonprofits—keep employees on the payroll, but what exactly does that mean? While the loans are intended largely for payroll-related costs like salaries and health insurance premiums, you can actually use a PPP loan to cover a wide range of pandemic-related operating costs.
Allowed Uses for a PPP Loan
While you will need to spend 60% of the loan funds on payroll costs, you can spend the other 40% of your loan on a variety of other pandemic-related costs, all of which are considered “allowed uses” for the loan.
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February 26, 2021 | admin
Source: Entrepreneur.com
Like the CARES Act, the newest stimulus bill has brought significant changes not only to entrepreneurs but individuals, too. While some relief is immediate, some updates last through 2022. As with any new tax opportunity, it’s crucial to examine each and determine how you can maximize them. Here’s how the new bill will affect you.
Changes for entrepreneurs
The bill provided many changes to the Paycheck Protection Program. One of the biggest is that PPP expenses are now tax-deductible, and the forgiven loan is still not taxable income. However, small business owners need to do the due diligence to confirm if their state plans to follow suit. Not all states conform to Federal Tax Law, so it’s likely that states that need tax dollars (like California or New York) won’t conform. Business owners in those states should plan on higher state taxes this year.
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January 22, 2021 | admin
Source: CNBC
Often hailed for higher-than-average rates of entrepreneurialism and new business formation, the Latino community has been struck particularly hard by the Covid-19 crisis.
The Stanford Latino Entrepreneurship Initiative reported in May that 86% of Latino business owners had felt immediate negative impacts from Covid, a rate higher than other ethnic groups. Help was also harder to come by for Latino business owners, who had less cash on hand when requesting Covid assistance in the form of PPP loans, and were only half as likely as their White counterparts to receive the federal loans.
Still, the pandemic tells only half the tale of where Hispanic businesses stand today, because prior to the crisis, Latino entrepreneurs were making great strides — increasing their funding, improving their credit, and their revenue growth. That means that there is underlying strength in the Latino business community that can help in their emergence from the ravages of Covid-19.
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December 12, 2020 | admin
Source: NBC News
Last Friday, as Americans waited to learn who their next president would be, Debbe Andrews-Lewis of Lincoln, Nebraska, knew her life was about to change either way. At the end of the day, she would lose her boutique, The Funky Sister.
She had built it from scratch to honor her late husband’s memory — they had always wanted to run a store together in retirement. She found quick success selling antiques and oddball items, which allowed her to expand the business and hire her daughter, who took her young son to work every day.
But then the Covid-19 pandemic hit, shuttering the store for two months last spring. When Andrews-Lewis reopened, a loan from the Paycheck Protection Program — part of the emergency relief bill passed by Congress in March and signed into law by President Donald Trump — covered only a brief stretch of her daughter’s salary.
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November 13, 2020 | admin
Source: Black Enterprise
Earlier this year, BLACK ENTERPRISE reported that PayPal had committed over $500 million toward advancing social change and closing the racial wealth gap within the United States. This week, as part of its commitment, the tech giant has announced that it will invest $50 million into early-stage venture capital funds for Black and Latinx businesses.
The investment will be distributed between eight Black and Latinx-led venture capital funds, including Chingona Ventures, Harlem Capital, Precursor Ventures, Zeal Capital Partners, Slauson & Co., and the Fearless Fund, and another fund that was not named.
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October 28, 2020 | admin
Source: Lendio
As the coronavirus (COVID-19) pandemic continues to spread, the federal government has allocated resources to support small businesses through economic hardship and hopefully restore some of the jobs lost (now at 9.6 million people according to the latest jobs reports) as a result of mass stay-at-home orders and business closures.
Given how quickly the rollout has come—and how many changes have happened along the way—many small business owners have been left scratching their heads, saying, “Wait a second, how do these SBA coronavirus loans work, and will my business even qualify?”
Great question. Let us answer it.
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April 5, 2020 | admin
Source: Politico
U.S. lawmakers are moving to give a cash infusion to small businesses that have been hammered by the economic fallout from the coronavirus pandemic, but the industry is already sounding the alarm that it won’t be enough.
The $349 billion contained in the Senate version of the stimulus package — which stalled in Congress on Sunday — would guarantee private-sector loans to companies through the Small Business Administration, freeing up more funds for outfits struggling to keep their head above water as revenue evaporates.
But small-business owners and trade groups warn that the money is probably not sufficient and that it’s not likely to get to those most in need fast enough. Others wonder whether enough help can be distributed to a sector that’s so vulnerable because so many businesses have no cash cushion.
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March 25, 2020 | admin
Source: Nav
Women are a core pillar in business, but in far too many cases women face inordinate challenges and find themselves behind their male counterparts based on several measures when it comes to business ownership and incomes. While there are many incredibly successful female entrepreneurs that come to mind when discussing women in business, women remain underrepresented at the workplace and often earn less than their male counterparts for the same work.
Business owners already struggle to qualify for business loans or other forms of financing as they try to build business credit and build their businesses, and women business owners moreso. When loans are tough to come by, money can be in short supply and small businesses struggle.
These 13 grants are doing something to solve that problem. If you are a woman looking to start or grow a business, these small business grants for women and other resources may be just what you need to get to the next level.
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February 10, 2020 | admin
