New PPP Round Requirements

January 26th at 10:52am

While many of the program’s original requirements remain the same, to qualify for a 2nd PPP loan, your business needs: Proof of a 25%+ reduction in revenue year over yearFewer than 300 employeesHave started your business before 2/15/20 If you meet these requirements and need additional funding, if you haven’t yet, start your application with our top lenders from the first round of PPP for the fastest result. Apply for PPP Loan Interested in additional funding but don’t qualify for a PPP loan? First Down Funding has other financing options, from traditional SBA loans to lines of credit. Apply for…

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MARYLAND SMALL BUSINESS RESOURCES AND FUNDING OPTIONS DURING COVID-19

October 16th at 4:24pm

The COVID-19 pandemic has brought changes and disruptions to daily life all across the country, and some of those impacted the most are our very own small and local businesses in Maryland. Many companies are coming up with innovative ways to increase or pivot production and provide support to those in need while keeping up with the coronavirus.  Keeping Maryland clean The demand for quality disinfectants and sanitizers has never been more relevant. Sterilex, a Hunt Valley-based company, has been at the forefront of sanitizer and disinfectant production in Maryland. The company is currently working at full capacity to keep…

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Merchant Cash Advance during Covid – 19 for small businesses.

October 14th at 6:06pm

Merchant cash advance (MCAs) was created after small banks and lenders stopped loaning money to small businesses in 2009. Many small businesses continue to use a merchant cash advance to help their companies–especially during times of uncertainty, such as COVID-19. What Is a Merchant Cash Advance? A merchant cash advance is an “advance” on future revenue, so business owners can borrow money for their operations to sustain their business. However, a merchant cash advance isn’t like a typical loan. An MCA is based on the credit card sales in a business owner’s merchant account. In fact, payments are deducted daily…

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NEW SIMPLIFIED FORGIVENESS APPLICATION FOR SMALL BUSINESSES

October 12th at 12:26pm

The Small Business Administration (SBA) and Treasury Department announced that they are simplifying the loan forgiveness application for Paycheck Protection Program (PPP) loans under $50,000. The simpler, two-page form businesses can fill out to have their PPP loans forgiven is meant to ease burdens on struggling small businesses. The PPP program, part of a March’s CARES Act, was created in order to help businesses hit by the pandemic keep their doors open and workers on the books as the economy seized up. In all, the program distributed 5.2 million loans worth $525 billion, which Treasury estimated helped save 51 million…

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How to Open Your Business and Grow Your Business During COVID-19

May 28th at 5:51pm

You have two options during this COVID-19 – cower in fear, lament all day and accept defeat, or you roll up your sleeves, take a firm stand and fight it out head long. If you choose the latter, then this piece on how to open your business and grow your business during COVID-19 is for you. As far as anyone knows, coronavirus may miraculously disappear overnight or become a part of us, like HIV/AIDS. But rather than fold your hands to wait it out, you are here, looking for a way to earn money and stay in business, pandemic or…

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Press Release – The PlayBook by First Down Funding & Paul Pitcher

May 6th at 6:01pm

For Immediate Release The Funding Playbook: The First-of-its-Kind Small Business Funding Guide Supporting Businesses and Boosting the Economy created by Paul Pitcher The PlayBook by First Down Funding Annapolis, MD — May 6, 2020 — The United States relies on its small businesses. Small and medium-sized businesses employ roughly half of the nation’s workforce, which is around 120 million people. And yet, around half of all small businesses have folded within only five years of opening. There are many reasons for this failure rate, but one of the most critical is funding. As any business owner knows, securing funding is a matter of life and death…

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5 Ways to Keep Your Business Running During the COVID-19 Outbreak

April 17th at 10:27pm

The worldwide COVID-19 outbreak is a quickly changing, uncertain situation. You may be seeing hourly updates about travel bans, upticks in cases, and restrictions on day-to-day life – all of which are affecting your business. It’s an unprecedented challenge for you as a business owner to keep your staff (and yourself) healthy and your business running as smoothly as possible. Keep reading for 5 ways to keep your small business cash flow as strong as possible during the COVID-19 outbreak and resulting economic slowdown. 1. Provide business services virtually Many parts of the United States are now under lockdown restrictions…

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The Guide to Staying Efficient, Healthy and Productive while working from home

April 17th at 9:50pm

While remote work and being able to set your own hours are big perks of the work-from-home life, it can be a real challenge to stay focused and productive when dealing with the many distractions you’ll find in a home environment. To help you manage, here’s our top 5 best tips and strategies you can adopt to stay on task when away from the office.

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