Atlanta, GA – August 3, 2020 – Eagle Business Credit hires Carolyn McClure as Business Development Officer. Carolyn is an accomplished sales professional and will be responsible for securing new client and referral partner relationships. She brings with her nearly twenty years secured lending experience with…
Category: News
How to Get Small Business Financing Right Now
The Federal Reserve Banks publish an annual small business credit survey report. The 2020 SBCS Report on Employer Firms is based on survey responses of small business owners from the second half of 2019. These responses show the current challenges of business financing and credit that…
What Is the Current State of Trucking?
It’s not much of a surprise that as businesses reopen nationally, some trucking sectors are showing signs of improvement as well. Restaurants and hospitality industries were hit the hardest by COVID-19, but as they reopen, freight sectors are seeing more volume as well. Produce hauling has…
Will You Be Able to Repay Your PPP Loan?
The Paycheck Protection Program or PPP is a government funded program aimed at incentivizing small business owners to keep operating. The program offers up to $10 million in funding and is up to 100% forgivable. To qualify for loan forgiveness, at least 75% of the loan…
Will You Receive the Next Round of Stimulus Funding?
Congress is on the brink of approving the next round of small business stimulus funding in the form of the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan program (EIDL). The first round worth $349 billion ran out in less than two weeks. This round…
What is the Paycheck Protection Program?
The Paycheck Protection Program is a Small Business Administration program aimed at encouraging small business owners to keep employees on payroll. If a small business keeps all employees on payroll for eight weeks, the SBA will forgive up to 100% of the loan if the loan…
Online Lending During a Recession
There is a lot of discussion about online lenders and the inevitable upcoming recession. While many online lenders are willing to take risks in lending to businesses currently, these risks will be far and few between as a recession sets in. The 2008 recession saw bank…
How to Get an SBA Economic Injury Disaster Loan
Due to the disruption of small, medium, and large sized businesses in the wake of the COVID-19 response, the Small Business Administration is offering Economic Injury Disaster Loans. These loans are working capital injections that aim to help business owners pay debts, meet payroll, accounts payable,…
Predatory Lending During a Global Crisis
If your inbox is anything like ours, you are probably receiving updates from any business partner you have ever worked with. These updates are saying things like “we are still open during this crisis” or “we hope you stay healthy” or “please reach out if there…
Three Tips to Protecting Your Business During COVID-19
What the heck happened over the last few weeks? One day everyone is talking about a theoretical impending recession, and the next, millions of people are losing their jobs. It’s hard not to have the REM song, “It’s the end of the world as you know…