Insights into the world of small business lending and development
Straight Talk about SBA Loans
This blog originally appeared on the blog of our partner CO-STARTERS.
Although some businesses have seen the relief offered by the CARES Act—particularly the Paycheck Protection Program SBA loans—many small businesses have been left wondering if their application is even being considered.
This financial limbo is a really tough place to be, because managing cash flow is a “right now” problem. Federal loans are showing themselves to be solutions of the distant future.
So what exactly is going on? Why aren’t businesses hearing back about their loans? And what should they do in the meantime? To answer these questions, we brought in Brian Pifer, the Vice President for Entrepreneurship at Small Business Majority and Venturize, as a guest on one of our Straight Talk with Starters sessions.