The SmallBizLady Buzz - Issue 44

Do Not Assume You Are Not Eligible for a PPP Loan!

Business owners with employees qualify, but self-employed individuals, sole proprietors, and independent contractors are eligible for the PPP Loan program too. If you are the only employee of your business or entity, you can still get support for up to 2.5 months of your salary (with a cap of $100,000 per annum.) This support can be a big help to pay off personal or business debt. If you did not understand this and did not apply for the first round of PPP, it is not too late – you can apply for the first round of PPP that has been reopened, and if you did apply for it you can get a second round. Talk to your accountant or banker or reach out to a CDFI or Community Development Financial Institution, to get help with this. 

Happy Inauguration Day!

It’s my solemn hope that small business owners get some real help from the Biden administration. The Small Business Economy, which generates 47% of the net jobs in the economy, is key to the overall economic recovery. Here are a few suggestions about what must be done to help our nation’s small businesses.

1)   The Biden Rescue plan request for $15 Billion in grants and $35 Billion in small business financing programs will be welcomed if Congress will pass it.

2)   Credit scoring policies need to be reviewed after 2020. The SBA must push lenders and CDFIs to use alternatives to credit scoring to offer business loans and grants. Too much emphasis was placed on 2019 business results and credit scoring with the first round of PPP Loans and EIDL Grants & Loans, which is why many underserved businesses did not get any aid.

3)   Corporations that stepped up to provide free training and grants need to keep it going and add technical assistance and mentoring to the mix.

4)   Extended unemployment & mortgage/rent relief support payments.

5)   Extend the deferment of SBA guaranteed loan payments to banks until July 2021.

This week’s featured article is my 11th annual Bible verses post. Enjoy! 

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10 Bible Verses Small Business Owners Needs to Know for 2021

My theme for this year is, “It’s a New Year, Time to Renew Your Faith.” Last year, and so far this year, life has thrown us all some curveballs and some direct hits. Loved ones lost, businesses destroyed, finances stressed; it’s been a really tough time for some.

As if entrepreneurship isn’t lonely enough, then we’ve been forced to stay at home, be alone and not travel to see friends and loved ones. Continue reading....

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Podcast: Solving the People Problem with Brett Cooper

Check out this week’s Podcast: Solving the People Problem with Brett Cooper

Brett Cooper is an HR expert, business advisor, keynote speaker, and executive coach. Over the years, he has assisted government branches, non-profit organizations, and corporations to work together more effectively and promote working relationships. 

As the President and Co-Founder of Integris Performance Advisors, Brett helps clients increase employee engagement and improve business efficiency. He is also a bestselling writer and co-author of Solving the People Problem, the number one book on the Entrepreneur's 2021 Must-Read List.

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Are you still reeling from 2020 in Your Business?

I got some pain medicine for you. Grab a copy of my last book, Fix Your Business! It’s a 90-day plan to turn things around and get your life back. If you are tired of stress, worry and your hair falling out, this is the guide you need. Trust me. And it’s now available at the new low price of $15.

Order Your Copy Today!

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Melinda F. Emerson, “SmallBizLady” is America’s #1 Small Business Expert. She is an internationally renowned keynote speaker on small business development, marketing and social selling. Melinda is also the president of the Quintessence Group, an award-winning marketing consulting firm based in Philadelphia, PA, serving Fortune 500 brands who target small business market. LinkedIn named her a Top Voice for 2019 in Small Business and Entrepreneurship. In addition to being a former NY Times columnist, she is frequently quoted by media organizations including The Wall Street Journal, Fortune, MSNBC, CNBC and Fox News. She is the host of #Smallbizchat LIVE and The SmallBizChat Podcast. A prolific writer, Melinda has published more than 5000 articles on her blog www.succeedasyourownboss.com. Her small business advice is widely read reaching more than 3 million entrepreneurs each week online. She is the bestselling author of Become Your Own Boss in 12 Months, 2nd Edition. Her latest book is Fix Your Business, a 90 Day Plan to Get Back Your Life and Reduce Chaos in Your Business.