Delta Varian’s concerns lead SBA to increase EIDL cap to $ 2 million



As cities, states and countries reflect on how to tackle the Delta variant of COVID-19, the SBA has announced it is raising the ceiling on the Economic Disaster Lending (EIDL) to $ 2 million . In addition to increasing the cap, the SBA will also implement a deferred payment period, establish a 30-day exclusivity window, expand eligible use of funds, and simplify membership requirements.

This week’s recap begins with, SBA is extending EIDL loan limit to $ 2 million for Delta variant issues. The article explains in more detail what the SBA is doing to better help small businesses meet the never-ending challenges of COVID-19. Expanding the EIDL limit will allow business owners to apply for additional funds by increasing the limit from $ 500,000 to $ 2 million. This applies to new applicants as well as those who have already received an EIDL.

In another finance-related case, Biz2Credit reports that small business loan approvals are on the rise at banks and non-bank lenders. Facebook, on the other hand, is taking a different approach to helping small businesses by buying $ 100 million worth of unpaid bills from 30,000 women and minority businesses.

Small Business News – September 17, 2021

Take a look at all the other articles covering small business issues in this week’s roundup.

The influencer is the 2nd most misunderstood job in the United States

An influencer is the second most misunderstood job in the United States. According to a report from Business CenturyLink, Internet, VoIP and other service providers for small businesses, the role of “influence” is widely confused and misinterpreted. At the top of the most misunderstood job lists is an actuary role, and in third place, after influencer, is a data scientist.

Small business loan approvals on the rise at banks and non-bank lenders

The Biz2Credit Small Business Lending Index for August shows that banks and non-bank lenders approved more loans in August. This includes large and small banks as well as institutional and alternative lenders. Only the credit unions saw no change, staying the same over the past two months with a loan approval rate of 20.5%.

Quora introduces Quora + to enable creators to monetize content

Quora has announced the launch of its new Quora + subscription plan. The Q&A social media platform offering gives subscribers access to exclusive content from the creators and curators of Quora +. For writers, that means they would share the revenue from subscriptions through Quora +.

Facebook buys $ 100 million in unpaid bills from 30,000 small businesses

Facebook announced that it was buying $ 100 million worth of unpaid bills from 30,000 women and minority businesses. The goal is to purchase these unpaid invoices through the Facebook Invoice Fast Track program so that these owners can have cash on hand to continue their operations.

Become an Amazon Flex Driver to earn money

Becoming an Amazon Flex Driver is a great way to earn extra cash. You can save for vacations or pay off your student loans. Or you can use the compensation you earn to meet other financial goals. You can choose how much time you will spend at work. Amazon Flex Drivers are independent contractors.

Study: Yes, there are benefits to offering free Wi-Fi

You may have thought about the benefits of providing free Wi-Fi to your customers in your business. This makes sense when you consider the fact that consumers spend a lot of time on their mobile devices. It also makes sense if your income depends on traffic to your doorstep.

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