News
Urgent message for Buyers regarding SBA 7a loans!
By Adam Armstrong |
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negotiations, a bipartisan group of Senators identified funds remaining from the Economic Aid Act that could be withdrawn from their intended purposes to help pay for the infrastructure bill.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.…
Consumers spent $900 billion more online in 2020!
By Adam Armstrong |
Consumers across the globe spent $900 billion more at online retailers in 2020 compared with the prior two-year trend, according to a report released Tuesday by the Mastercard Economics Institute. Shoppers are heading back to restaurants and returning to stores to buy clothes and shoes in person. Yet they will continue to stock their fridges…
Update 2-17-2021 SBA Payment Relief Program details
By Adam Armstrong |
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…
Second round of COVID-19 relief.
By Adam Armstrong |
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…
Shoppers spend a record $10.8 billion on Cyber Monday
By Adam Armstrong |
Holiday shoppers went online Monday and spent $10.8 billion, setting a record for the largest U.S. online shopping day ever, according to Adobe Analytics data. Cyber Monday spending rose 15.1% year over year, according to Adobe, which analyzes website transactions from 80 of the top 100 U.S. online retailers. That came in short of Adobe’s…
Thanksgiving Day online sales hit record $5.1 billion, up 21.5% from last year!
By Adam Armstrong |
Some shoppers may be avoiding stores during the coronavirus pandemic, but they’re still putting many items in the virtual shopping carts. Thanksgiving Day spending rose by nearly 22% year over year to $5.1 billion, hitting a new record, according to Adobe Analytics data. The company analyzes traffic on retail websites and transactions from 80 of…
E-commerce sales soar at Walmart by 79%
By Adam Armstrong |
Walmart reported third-quarter earnings on Tuesday that topped Wall Street’s expectations as customers continued to shop online and sent U.S. e-commerce sales soaring by 79%. The discounter said customers are embracing the new ways of shopping they adopted during the global health crisis. As the holiday shopping season begins, instead of browsing store aisles, more…
A decade of growth in only eight weeks!
By Adam Armstrong |
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…
Six tips to help you become an efficient Contractor!
By Adam Armstrong |
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…
Buying boom!
By Adam Armstrong |
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…