"You can lead a person to knowledge
but you can't make him (or her) think".
Ter Scott Small Business Advisor/Business Resource Consultant
I am thankful that I am involved with NFIB, the National Federation of Independent Business which is the nation’s biggest voice for small business (and BTW, if you own a business you should be a member) so I get first hand knowledge as to what is happening at the state and federal levels for the small business owner.
Today I’m sharing a source for funding for small business owners in my own area of Superior Wisconsin, and then I’ll present others. The only source where I receive any remuneration is the second one which is Stryde Solutions of which I’m a Senior Advisor, and everything that I do for you is totally at no fee unless we find your business monies and the we assume a small fee. All the others I am offering here as a public service.
For my business neighbors in Superior Wisconsin, the city has created what is called the Small Business Economic Relief Program. I applaud everyone who has put this together to help small business owners. It seems to be pretty straight forward, which is not always the case with such programs. Per the website it states: “This program is available to business owners until the allotted funding source is depleted or until December 31, 2020, whichever comes first”. Most programs will most likely be depleted sooner than expected so my suggestion is that if you own a business in the city of Superior, please apply as soon as you possibly can.
To qualify you must be the owner of a “For-profit” business, must have 25 employees or less and have an actual “brick & mortar” location.
I’ve been in touch with Jason Serck, Planning, Economic Development & Port Director to express my thanks and to discuss the possibilities of somehow collaborating with each other as I am the local advisor for Stryde Solutions.
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Stryde Solutions, LLC is located just north of Detroit in Fenton, Michigan. We have Agents in all 50 states. My team works with clients on a national level to identify Specialized Tax Incentives and Expense Reductions. Stryde Solutions has captured over $300M in benefits for clients.
We have helped thousands of companies reduce expenses and obtain large federal tax incentives that would otherwise go uncaptured. Our services are not limited to any single industry focus. Over 90% of all businesses can benefit from one or more of our services.
There are several advantages in using the services of Stryde Solutions. If you happen to be a business owner in Superior Wisconsin, you can use these services in addition to the city’s Small Business Economic Relief Program! Plus, you’ll qualify for the Stryde programs regardless if you have a physical store front and these programs don’t limit you by the number of employees you have.
I work with clients nationwide with the Stryde products and it certainly makes sense to call me and discuss the possibilities if you own a business in Superior.
Further, much of these monies we find for you, DO NOT HAVE TO BE REPAID. And finally, these funds will not be depleted! (Some expire so please contact me as soon as you can).
Check out the online secure calculator to find out how much your business is entitled here http://www.gmgsavings.net/251784.
And finally, for those business owners who will be hiring (1 to 100 employees) in the near future, please check out how you can earn up to $9600 per employee here https://gmg.me/251784.
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So, especially for my business neighbors in Superior Wisconsin, where I personally live and do business, check out both the Small Business Economic Relief Program and Stryde Solutions.
As a Business Resource Consultant, I’m presenting other possibilities below which may help you find funds to keep your business running. Remember, I'm not earning anything from these links below and you'll have to do your own due diligence on them yourself.
For those who would like more information about joining your business neighbors in becoming a member of NFIB, I’ve put together a short video for you. Click here to go to that article. I've also included the three most recent replays of COVID-19 Funding Options Webinars presented by the NFIB legal team.
I wish you the best of continued success.
Together we will get through this!
Make it a great day!
Terry (Ter) Scott,
NFIB Rep (3A687),
Small Business Advisor and Business Resource Consultant
As a public service, I present the following options
which you may find helpful. (Courtesy of Forbes)
Nonbank Lenders Accepting PPP Loan Applications
BlueVine: This online business lender will accept applications from any small business interested in applying for a PPP loan. BlueVine’s website states qualified applications will be submitted to the SBA when funding for the program is available. The SBA is accepting applications again as of Monday, April 27.
Centerstone SBA Lending: This nonbank, SBA-approved lender is now accepting applications from small businesses seeking PPP loans, but not sole proprietors or independent contractors.
Fountainhead: As a nonbank lender licensed to make SBA 7(a) loans, Fountainhead originally accepted applications from any small business, not just existing customers. The company has currently paused application submissions. If it resumes accepting applications, you can make a loan request online as the first step in the process.
Funding Circle: This online marketplace, which connects investors with small businesses seeking loans, is now accepting PPP applications. Once you submit the online form, Funding Circle will put you in touch with an account manager to complete your application. Its website says it may refer you to one of its partners to get funding.
Harvest Small Business Finance: This nonbank, SBA-approved lender says it focuses on commercial real estate lending to “small business borrowers who have traditionally been ignored by large, regional, and community banks.” It is accepting applications for PPP loans from any qualifying business through its website.
Kabbage: Prior to the coronavirus crisis, this fintech company made loans to small businesses and consumers through its lending platform. It has now partnered with an SBA-authorized bank to process and disburse PPP loans to qualified small businesses. But while PPP can provide businesses with up to $10 million in forgivable loans, you can only apply for up to $2 million in funding through Kabbage.
Intuit/QuickBooks Capital: This maker of accounting, tax and budgeting software has received SBA approval to serve as a lender for PPP loans. Payroll and QuickBooks Self-Employed customers who filed 2019 taxes with TurboTax Self-Employed can sign in to their accounts to see if a PPP application is available. Others can sign up to get notified when QuickBooks Capital starts lending to additional businesses.
Lendistry: This California-based community development financial institution (CDFI) has an online application process and can submit PPP loans to the SBA from small businesses in the following states: California, Colorado, Florida, Georgia, Illinois, Iowa, Maryland, Michigan, New Jersey, New York, Pennsylvania and Texas. Lendistry announced on April 23 that it received an influx of capital from Goldman Sachs to help fund PPP loans. Businesses can only receive up to $250,000 in PPP funding from Lendistry.
OnDeck: This online nonbank lender was approved by the SBA to accept applications for PPP loans.The company’s site says that priority may be given to existing OnDeck customers and any approved loans may be issued by OnDeck or one if its banking partners. Applicants will be notified which bank they’ll work with when the loan is approved. The company is processing and servicing loans in partnership with Celtic Bank.
PayPal Holdings: Also approved by the SBA as a nonbank lender, PayPal is now accepting applications for PPP loans from PayPal merchants. The company is working with WebBank as its partner lender.
Ready Capital: This commercial lender says on its website that it was an approved provider of PPP loans. It has paused accepting applications, but may accept them again in the future.
Square Capital: Although Square is best known for its point-of-sale software, the company received SBA approval to accept applications for PPP loans. Its website says that you can sign up for updates about when you might be able to apply. Current Square customers will be notified when the program is live. If you’re not yet a customer, you can sign up for a Square account to receive updates on the program.
The Loan Source: One of a small group of nonbank lenders that were approved by the SBA back in 1994, its website says it is currently accepting and processing applications for PPP.
VelocitySBA: This SBA-approved nonbank lender says on its website that it is reaching out to existing clients to process PPP applications. Potential borrowers can continue to check the site for updates.
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