Nearly 5 million small businesses have received a cumulative total of $518 billion in Paycheck Protection Program funding, as well as $135 billion in Economic Injury Disaster Loans, with an average loan size of $105,000 and $60,000 respectively. This may seem like a significant amount, but many businesses are running out of PPP and EIDL funding and are still unable to reopen or are operating at reduced capacity. According to a survey by Goldman Sachs, about 84% of small businesses that

Over nine weeks between April 26 and June 27, 2020, the United States Census Bureau conducted a weekly survey of small business owners to measure changes in business conditions during the COVID-19 pandemic. The goal of the first phase of this weekly survey was to collect detailed information regarding small business-specific initiatives such as the Paycheck Protection Program (PPP), as well as data relating to: Current business status—Have there been changes in revenue? How much cash on hand is available? Were

It’s no secret that COVID-19 restrictions have presented small business owners across the country with unanticipated challenges—according to the U.S. Census Bureau’s Small Business Pulse Survey, 85.5% of small businesses experienced a moderate or large negative impact between April 26 and June 27 as a result of the pandemic. With restrictions partially or completely lifted in a number of states, many small business owners are keen to open their doors (safely, of course) and get on the road to recovery. But

Small businesses are reopening across the country, but it’s hardly business as usual. While the COVID-19 pandemic continues, business owners are faced with a number of difficult decisions about how best to reopen, from immediate concerns like how to keep employees and customers safe to forward-thinking considerations about how to prepare for future disruptions. Work environments differ greatly depending on the nature of your business, so there is no one-size-fits-all solution when it comes to reopening or resuming operations safely. Whether

Thanks to the ongoing realities of the COVID-19 pandemic, this year’s holiday season will look very different from any we’ve seen before, especially for retail business owners. As shoppers continue to favor shopping online over browsing and buying in-store, the plans you so carefully made earlier this year to generate more foot traffic—and more revenue—this coming season have gone completely out the window. So what do you do now that the holiday season is just around the corner? A recent report

If you applied for small business funding from Greenbox Capital® or another alternative lender and did not receive funding, there are a number of reasons why you might not have been approved. Here are some of the most common reasons why we might not be able to fund your business: You’ve had too many NSFs or negative days within a 3 month period Your business doesn’t meet the minimum monthly revenue requirement of $10,000 over a period of 3 consecutive months

Main Street Finance Group participates in small business lending data collection rulemaking for section 1071 of the Dodd-Frank Act protecting women-owned and minority-owned businesses. Miami, FL: Main Street Finance group ® announced it is serving as a Small Entity Representative (SER) to the Consumer Financial Protection Bureau (CFPB) that is responsible for amending the Equal Credit Opportunity Act (ECOA) protecting women-owned, minority-owned, and small businesses looking for financial assistance. Section 1071 of the Dodd-Frank Act amends the ECOA by requiring certain

The COVID-19 pandemic poses unique challenges for marketing a small business in 2021—smaller budgets, fewer resources if your staff is stretched thin thanks to capacity limits or reduced workforces, less foot traffic, and constantly changing conditions. Despite these difficulties, the pandemic has also highlighted new opportunities for small business owners, particularly as the movement to “shop local” grows and communities across the country choose to patronize small businesses. The pandemic isn’t going away, but your audience is there and ready to

Over nine weeks between April 26 and June 27, 2020, the United States Census Bureau conducted a weekly survey of small business owners to measure changes in business conditions during the early phase of the ongoing COVID-19 pandemic. The goal of this first phase was to collect detailed information about small business-specific initiatives such as the Paycheck Protection Program, as well as data relating to current business status, location closures, changes in employment use of federal assistance programs, and expectations for