Entrepreneurship

Womply Registered as Loan Agent for SBA Paycheck Protection Program to Help Dying Small Businesses Get Stimulus Cash Fast

Sunday, April 5, 2020 - 12:29am

Womply, a software and API company serving small businesses and app developers, today announced that it is helping American small businesses get faster access to Paycheck Protection Program loans as a verified loan agent for multiple SBA 7(a) lenders.

Key Points: 
  • Womply, a software and API company serving small businesses and app developers, today announced that it is helping American small businesses get faster access to Paycheck Protection Program loans as a verified loan agent for multiple SBA 7(a) lenders.
  • Womply is also helping other technology and service companies that serve small businesses streamline the PPP application process for their merchant customers.
  • To help avoid a mass extinction event among small businesses, were dedicating all our resources to help them access capital immediately.
  • In addition to connecting small businesses directly to approved PPP lenders, Womply has been reviewing all federal guidance on the program and helping small businesses make sense of it.

Coronavirus: Support for businesses

Saturday, April 4, 2020 - 12:04am

This briefing provides information on the various sources of support for businesses affected.

Key Points: 
  • This briefing provides information on the various sources of support for businesses affected.
  • This briefing provides information on the various sources of support for businesses affected.
  • Pre-existing Government support schemes for businesses are available and may be of help to firms.
  • The Government advises others to take up the other support measures on offer.

BBVA USA launches Paycheck Protection Program applications online

Friday, April 3, 2020 - 8:28pm

HOUSTON, April 3, 2020 /PRNewswire/ -- BBVA USA today announced it will be one of the first banks in the U.S. to begin processing customer applications for the Paycheck Protection Program, a key small business relief component of the recently passed CARES Act and administered through the Small Business Administration (SBA).

Key Points: 
  • HOUSTON, April 3, 2020 /PRNewswire/ -- BBVA USA today announced it will be one of the first banks in the U.S. to begin processing customer applications for the Paycheck Protection Program, a key small business relief component of the recently passed CARES Act and administered through the Small Business Administration (SBA).
  • "We are proud to be among the first banks prepared to process these applications, because we recognize how important this funding will be to small business customers," said BBVA USA Executive Director of Business Banking Elizabeth Dobers.
  • The bank will begin accepting applications beginning April 3, 2020, and BBVA small business customers should expect to receive an email today containing details on the application process.
  • For additional information regarding BBVA's COVID-19 response for small businesses, as well as application details for the Paycheck Protection Program, visit here .

SBA's Paycheck Protection Program for Small Businesses Affected by the Coronavirus Pandemic Launches

Friday, April 3, 2020 - 7:20pm

The program provides forgivable loans up to $10 million to small businesses left financially distressed by the Coronavirus (COVID-19) pandemic.

Key Points: 
  • The program provides forgivable loans up to $10 million to small businesses left financially distressed by the Coronavirus (COVID-19) pandemic.
  • "These loans will bring immediate economic relief and eight weeks of financial certainty to millions of small businesses and their employees," SBA Administrator Carranza said.
  • The loans, which are 100% backed by SBA, are being provided to small businesses without collateral requirements, personal guarantees, SBA fees, or credit elsewhere tests.
  • Those eligible for the program include small businesses, certain non-profits, veterans' organizations, self-employed individuals, independent contractors, and other businesses meeting size standards based on their North American Industry Classification System code.

North Park University: 4 Immediate Financial Actions for Small Businesses During COVID-19

Friday, April 3, 2020 - 6:09pm

Small businesses are encountering the same conundrum: what they are able to do and what they want to do amidst the daily changing implications of COVID-19.

Key Points: 
  • Small businesses are encountering the same conundrum: what they are able to do and what they want to do amidst the daily changing implications of COVID-19.
  • Dr. Ann OwnbyHicks, North Park University's Dean of School of Business and Nonprofit Management (SBNM) and Professor of Accounting, says small businesses can take immediate action to:
    "No doubt, small businesses are in a tight spot because they operate on a shoe-string budget with minimum flexibility to reduce costs," said Dr. Hicks.
  • Seek inspiration from local businesses that have simultaneously pivoted from their mainstay business to providing social good, encourages Dr. Hicks.
  • While acknowledging the unknowns is important, small businesses should also keep in mind ways to meet a need and be flexible.

Walk West Launches The Diversity Movement to Drive Business Results for Organizations

Friday, April 3, 2020 - 6:00pm

The Diversity Movement was created by a core team of innovators at Walk West through collaboration with an international group of diversity practitioners, business experts and marketing leaders.

Key Points: 
  • The Diversity Movement was created by a core team of innovators at Walk West through collaboration with an international group of diversity practitioners, business experts and marketing leaders.
  • In addition, The Diversity Movement enables multicultural marketing review to be added to Walk West's expansive list of capabilities.
  • "Walk West partners with organizations who are looking to challenge traditional methods to more effectively reach customers and key stakeholders," noted Donald Thompson, entrepreneur and CEO of Walk West.
  • "By earning the Certified Diversity Executive designation through our intensive credentialing system, The Diversity Movement leadership team has developed the competencies necessary to guide organizations through the process of connecting D&I interventions to future business outcomes."

CED Calls for Full Funding for COVID-19 Small Business Loans

Friday, April 3, 2020 - 5:56pm

"Aid to small businesses is needed urgently and deeply and must be delivered swiftly.

Key Points: 
  • "Aid to small businesses is needed urgently and deeply and must be delivered swiftly.
  • The CARES Act provides small businesses with a measure of critical relief by establishing a new Paycheck Protection Program loan, which is empowered to lend roughly two months of payroll costs to every eligible business.
  • This risks a spectacle of financially well-connected and well-advised businesses receiving loans, at the expense of smaller, more-vulnerable small businesses.
  • With that assurance, more of our small businesses will be able to retain their trained workers while they await relief.

Exclusive business.com Survey Finds 62% of Small Businesses Owners Say Their Businesses Won’t Survive More Than Two Months Under Current Economic Conditions

Friday, April 3, 2020 - 4:41pm

The responses underscored the bleak conditions facing the more than 28M small businesses nationwide.

Key Points: 
  • The responses underscored the bleak conditions facing the more than 28M small businesses nationwide.
  • Nearly 62% of respondents said their businesses have just two months or less under current economic conditions before they go under.
  • Of these small business owners, 67% said they only had a month at most to survive in the current economic climate without assistance.
  • Faced with unprecedented challenges to their livelihoods, many small business owners are being forced to make drastic decisions.

Weeks Into Pandemic, Small Businesses Face Deepening Challenges of COVID-19, Latest Wave of Study by Thryv, Inc. and America’s SBDC Shows

Friday, April 3, 2020 - 3:41pm

The new study further found that 79 percent of small businesses are extremely concerned about the current business environment in light of the COVID-19 outbreak.

Key Points: 
  • The new study further found that 79 percent of small businesses are extremely concerned about the current business environment in light of the COVID-19 outbreak.
  • Forty-five percent of businesses (up from 33 percent in wave 1) are now indicating they will apply for a loan.
  • The study was conducted on March 27 through March 29, among small businesses, with a margin of error +/- 8.7 percent.
  • About Americas SBDC Program: America's SBDC (Small Business Development Center) Network is a partnership uniting private enterprise, government, higher education and local nonprofit economic development organizations.

venBio Closes $394 Million Life Sciences Venture Capital Fund

Friday, April 3, 2020 - 1:00pm

venBio Partners LLC today announced the closing of venBio Global Strategic Fund III (venBio Fund III), its third life sciences venture capital fund, exceeding its target and closing on approximately $394 million in capital commitments in an oversubscribed fundraise.

Key Points: 
  • venBio Partners LLC today announced the closing of venBio Global Strategic Fund III (venBio Fund III), its third life sciences venture capital fund, exceeding its target and closing on approximately $394 million in capital commitments in an oversubscribed fundraise.
  • Led by Managing Partners Corey Goodman, Ph.D., Robert Adelman, M.D., and Aaron Royston, M.D., venBio Fund III will continue to invest primarily in therapeutics companies that are developing biopharmaceuticals for unmet medical needs.
  • The venBio team typically leads or co-leads investments and takes an active role with each of their portfolio companies.
  • Established in 2011, venBio Partners is a life science venture capital firm that focuses on novel therapeutics for unmet medical needs.