05-08-20 Business Broker Roundup
Below update taken from our weekly newsletter.
What’s Inside:
- Weekly Roundup
- Petition to save the SBA 7(a) loan program
- Webinar saturation: -officially now a thing.
Quote of The Day
“The execution of this program is akin to building an airplane while you are in the act of flying it.”
— Steve Fisher, F&M Bank chairman and CEO on processing loans under the CARES Act Small Business Paycheck Protection Program
Weekly Roundup
SBA 7(a) Loan Program At Risk?
Apparently the PPP in its current form is depleting funds that would otherwise be allocated to the standard SBA 7(a) loan program. James Parker of the Boss Group International has started a petition to save the SBA 7(a). -More info and option to sign below.
Webinar Saturation Is A Thing
How many webinar alerts can one inbox take? Personally, I started finding excuses to skip out on the extended family Zoom dinners and virtual happy hours sometime towards the end of April. Professionally, whether we like it or not we’ve all officially entered a gold-rush period of new professional webinars, meetings, round-tables…. -pretty much any gathering venue you can think of has transitioned online. It doesn’t look like there’s any end in sight for this trend, so we’re highlighting some of the online venues we love below to help you filter out some of the gems from the spam.
-Adam
Founder @BizNexus
Founder @BN.Digital
Petition to Save the SBA 7(a) Loan Program
The Payroll Protection Program (PPP), although necessary, as written in the bill, is depleting all available monies allocated for the standard SBA 7(a) loan program. This is causing a situation in -Read More
Industry News
- SBA slashes disaster-loan limit from $2 million to $150k, shuts out nearly all new applicants
- SBA extends coronavirus PPP loan retrun window: What to know.
- PPP loan forgiveness rules keep changing. Here’s the latest guidance from 5 experts.
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Online Events We Love
IBBA Virtual Conference
If you haven’t registered for this, -do it now. The IBBA pulled off a massive pivot in very little time when COVID hit and managed to put together a really valuable conference in online format. Shameless plug: Be sure to check out our workshop presentation on social selling for business brokers.
The Deal Board Podcast
Great podcast for anybody interested in the world of business acquisition and sale. The Transworld team is getting better with each podcast, so definitely worth subscribing and checking in on a regular basis during a time when so much is changing in our industry.
NYBB Webinar Series
This is one to watch. Recently started but great topics, great guests. We’re keeping a close eye on this one and hope it goes the distance once other webinars inevitably start flaming out through the remainder of the year.
Social Selling Lunch & Learn
We’re partial, and yes we’re guilty of hopping on the webinar train, but so far we’ve have great feedback so we’ll keep this going until we hear otherwise. Every Wednesday, 15 minutes of actionable tips, and 15 minutes of Q&A about all things digital sales & social selling.
Distressed Transactions For Business Brokers
Again, we’re partial, but requests keep coming for this one so we’re keeping it on the short-list. Learn how to use Article 9 for distressed Main Street transactions to arm your brokerage with a critical revenue stream to help your clients over the next 12-18 months.
