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Showing posts from March, 2020

How Does the CARES Act Help Businesses Access Needed Capital?

We are all being impacted in one way or another by thecurrent COVID-19 (coronavirus) pandemic running around the world.  If you are running a business and you findthat the impact is more than the business can handle with its own resources,you should know about the resources available.  The Coronavirus Aid, Relief, and Economic Security Act (the “CARES” Act) was signed into law by President Trump on Friday, March 27,2020.   This act was an effort to provideassistance to individuals, businesses, and health care providers in response tothe outfall of the health pandemic and its economic consequences. The actual text of H.R. 748 can be found at the followinglink: https://www.congress.gov/bill/116th-congress/house-bill/748/text?q=%7B%22search%22%3A%5B%22hr748%22%5D%7D&r=1&s=2 There are many important provisions of the CARES Act,addressing matters such as unemployment, health care, and other matters.  The purpose of this article is to summarize capitalissues a...

Your Quick Guide To Equipment Financing

If you’re looking to get new equipment for your business,there are a lot of ways to access the machines you need. While traditionalbusiness loans are widely understood, they aren’t the only game in town. Forsmall companies, they aren’t even usually the best deal you can get, and theycan have long application review periods. That being said, they’re popularbecause they have some great terms and they serve the companies they are madeto serve very well. Let’s talk first about how to get a traditional loan. When you apply for long-term financing for an assetpurchase, you typically deal with fixed interest rates and amortizing payments.The down payment has to be substantial, between 25 and 35% of the total cost iscommon. You also need to include financial disclosures and a business planhighlighting how your company works, what it currently does for business, andhow the new purchase is projected to help you expand your volume of business.That means explaining wha...