If the thought of jumping through regulatory hoops just to get the forgiveness on the Paycheck Protection Program (PPP) loan had you in knots, you got some relief this week.
As more small businesses across America are looking to apply for forgiveness on the loan they received earlier this year, they got some good news. The US Small Business Administration and Treasury Dept. announced a new, simpler application for PPP loan forgiveness.
The simpler application is for loans handed out for less than $50,000.
PPP loans were a big helping hand to millions of companies in the US as they struggled with pandemic-related business closure orders.
To find out more about the new PPP loan forgiveness process, check out our report on it from earlier this week: SBA and Treasury Dept. Unveil Simpler PPP Loan Forgiveness Process
And for the rest of the week in small business news, check out our weekly roundup below.
Small Business News Roundup for October 16, 2020
Here are the other headlines most important to small businesses and entrepreneurs in the US this week:
ClearSale and BigCommerce have come together to help small businesses address fraud as the holiday shopping season fast approaches. And this year, more than any other year, primarily driven by the pandemic, more people are going to be shopping online. This means fraudsters are also going to be just as busy.
In a bid to help small businesses capitalize on the upcoming holiday shopping season, Facebook has launched its Season of Support initiative. With the new offering businesses conducting holiday promotions on Facebook or Instagram will receive free training, marketing support and insights.
The semi-annual Small Business Needs Index from Fiverr just revealed the most in-demand services on its platform. And for this index eCommerce, dropshipping, and web development top the list of services small businesses are looking for. For freelancers providing these services, it means they will be in more demand.
It is not surprising texting to local businesses has shot up during the pandemic. What is surprising is by how much, a whopping 450% overall increase in customer calls, texts, and Facebook Messages per month. This according to a new study from Numa. This study shows one of the many ways the pandemic is affecting small businesses across the country and indeed around the world.
OpenText, a leader in information management software and solutions, has extended its electronic signature offering to accommodate small businesses. Small businesses can now use OpenText Core Signature for employee and partners’ signatures. OpenText Core Signatures Collecting paper signatures can be a slow and cumbersome process.
Foldio has announced the launch of its new offering Foldio360 Smart Dome that helps you capture 360° photos with ease. Foldio360 Smart Dome works with various devices including smartphones, DSLRs and PCs. Besides capturing photos, the Foldio360 also helps to produce animations and videos as well.
The COVID-19 pandemic hurt companies of all sizes. But small businesses were hit hardest. If your small business is finding it hard to stay afloat during the pandemic, you’re not alone. According to Alignable’s latest report, 45% of small businesses have stated that they have earned less than half of their Pre-COVID revenue.
In its latest Alignable Pulse Poll of 7, 726 small business owners, 34% of the respondents say they are struggling to pay their rent in October. This news comes as the pandemic continues to disrupt business operations across the board eight months on. The Alignable poll, which was taken in the first week of October shows the number is two percent higher than September (32%).
Love them or loathe them, with the work-from-home era showing no sign of abating, conference calls are here to stay. Video calls have become increasingly prevalent throughout the pandemic, enabling teams to conduct business remotely. It’s important meeting attendees present themselves in as professional light as possible during remote meetings.
Freelancers and entrepreneurs searching for an alternative to LinkedIn should take a look at a new social network called Entre. It’s been designed to supply everything needed to kickstart your enterprise in one spot. Small Business Trends contacted Michael Marra, the CEO/Founder at Entre, to find out how this product folds into The Future of Work.