We hope everyone is holding up well and that business has stabilized! Our sincerest apologies that we have not sent any communication in a while, we are working on something that we are excited to be sharing with you in a few weeks. We also had a good EIDL webinar with Bench and we are finalizing a new one with Gusto.
Thank you for the overwhelming support backing the demand letter to Congress. We have over 750 signatures!
We are vehemently tracking and following updates about the second PPP and are happy to report that advocacy for small business funding is in full force not only from us, non-profits, and associations but from major public companies and banks as well.
While all of us are waiting on a decision for a new stimulus plan we have a few resources for you.
SBA's PPP Forgiveness FAQs
as of August 4, 2020
In case you have not seen it, the government is currently working on a major new round of PPP loans. This round will be different than in the past because many new businesses will be able to get this second PPP loan. Congress is still working out the exact details, but the key qualifier is likely going revenue losses of 50% or more from the pandemic. That means any business that has suffered at least a 50% decline in revenue could get a second PPP loan, likely of equal value to the first. However, the National Restaurant Association reports that 55% of restaurants, by number 430,000, would not qualify. Further details are not available and are still being negotiated, but like last time, we will continue to have Fundera's PPP application link on our site to help get you funding.
Are you ready and prepared to apply to the Second PPP? Remember, you will need good record-keeping of Q1 and Q2 (statements and bookkeeping) to show that your business suffered a 50% decline in revenues due to the pandemic.
Join the CLT community on Slack
Connect with like-minded business owners with similar experiences and industry experts to discuss, share, ask, and learn how to take your business forward. This is not a public group, it is exclusive to small businesses owners and invite-only industry experts.
Request to take part in the first discussion about "How to grow your business during the pandemic".
Members are added every Wednesday, so you will receive an email invite from Slack with instructions to join.
Join the Discussion
Business Innovation Survey
We created a survey focused on the changes business owners had to make in the face of this ongoing pandemic. The purpose of this survey is to use collective data to power small businesses.
Share your tips and lessons, and
learn about most-liked services, resources, and tools to use
The verdict about what works best for business owners is published on our site and shared in the newsletter.
Business Innovation Survey
Our Growing Small Business Network
The number of Small Business Directory members is increasing quickly. This last week The Small Business Directory was one of the Top 4 most popular pages on our site (according to Squarespace). Small businesses are featured and promoted continuously on our site and social media.
Join the Small Business Directory
We found an official SBA document that lists every member and their job title at the Small Business Administration and their phone number. This could be helpful when trying to reach a specific person in a specific department.
Alternatively, you can contact these SBA supervisors/managers below. Note: James Rivera seems to be the most responsive (relatively) according to small businesses.
James Rivera: firstname.lastname@example.org,
Lori Storch: email@example.com
Tami Perriello: firstname.lastname@example.org
Thank you very much for your contribution, feedback, and support of this community.
Duncan + Rita
Forward Your Business Needs
Let us know what your business needs and we will try to create content, webinars, tools, and more to support you.
My Business Need Stay Informed.