Urgent message for Buyers regarding SBA 7a loans!

NAGGL has learned that as part of ongoing infrastructure negotiations, a bipartisan group of Senators identified funds remaining from the Economic Aid Act that could be withdrawn from their intended purposes to help pay for the infrastructure bill.  Potentially included among those funds are the dollars currently available to pay for the 7(a) stimulus provisions.…

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Update 2-17-2021 SBA Payment Relief Program details

We wanted to let you know that there have been recent updates to the SBA Payment Relief Program that will become effective on 2/19/2021. Unfortunately, the SBA has determined that they will not have sufficient funding to make all the payments outlined in the original bill. Below are the following changes: New SBA 7(a) and…

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Second round of COVID-19 relief.

The second round of COVID-19 relief has been passed and we have been reading what’s available for our buyers.  If you are a buyer in the market looking to take out an SBA 7a loan the first 6 months of payments and interest will be picked up by Uncle Sam.  This begins in February 2021…

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A decade of growth in only eight weeks!

This is the crazy stat of the year!  A recent Bank of America, U.S. Department of Commerce and Shawspring research study shows the tremendous impacts that COVID-19 placed on E-commerce growth.  From March 1 until April 2020 we experienced a decade’s worth of growth in just eight weeks!  The numbers have been holding steady even…

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Six tips to help you become an efficient Contractor!

We hope all of you are doing well and staying healthy. It’s been very busy the last few months as Buyers are swarming to take advantage of the Cares Act. What is so special about the Cares Act? The SBA will pick up the tab for your first 6 months of payments and interest on…

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Buying boom!

There may be a big incentive for prospective business buyers to accelerate their plans to buy a business if they are planning to take advantage of the SBA’s flagship 7a loan program. As part of the $2.2 trillion CARES Act signed into law by President Trump on March 27th the SBA is paying six months…

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COVID-19 and how it’s impacting business

We hope everyone is staying safe out there and enjoying the extra time with their families.  Junior is getting a kick out of using the conference room while he learns online.  We can’t wait to add him to the staff in a few more years!  We continue to work normal hours to serve our customers.…

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FedEx Ground will start delivering FedEx Express packages in March!

“FedEx Express will funnel some packages to the company’s ground unit for residential delivery to improve efficiency as online shopping continues to grow. The company said Friday that the change will begin next month in Greensboro, North Carolina. FedEx Express currently uses its own vehicles for the so-called last-mile delivery of packages that come off…

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How to protect yourself in a listing agreement.

I recently received an email from a would-be seller asking about how to get out of a listing agreement with another broker who they’ve been stuck with for nearly a year and have had zero potential buyers come to them. I recommended that they talk with an attorney to figure that out. This was one…

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Changes to SBA Approval Process with ROBS Equity Injection

You may have heard that the Small Business Administration has made a few changes to the approval process for SBA loans that are combined with Rollovers for Business Start-ups (ROBS) as the equity injection. All newly originated SBA loans that use Rollovers for Business Start-ups as the equity injection must be sent through the general SBA…

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