September 19, 2021

Find a Way to Pay

“How am I going to pay for this?”

| 5/7/2021

Give crowdfunding a try.

way to launch a business by getting a bunch of people you may or may not know to donate the startup money online. If you decide to go this route, you can either create and manage your own crowdfunding site or use an existing crowdfunding platform such as Kickstarter, GoFundMe or iFundWomen. There are pros and cons to either option, and the SEC has rules and procedures for soliciting “shareholders” online. If crowdfunding appeals to you, look to the specialists at your local Florida SBDC office for advice and do your homework before signing on to anything.

COVID-19: Continuing to Speed Recovery

On March 24, 2021, SBA announced plans to more than triple the maximum amount small businesses and nonprofit organizations can borrow through its Economic Injury Disaster Loan (EIDL) program. Beginning the week of April 6, the maximum loan limit of $150,000 shot up to $500,000, and the program itself from six months of economic injury to a maximum of 24 months. New loans are automatically being considered for the higher cap; businesses that received a smaller loan under the previous conditions are being contacted by SBA with regard to additional paperwork as needed. Funds made available through EIDL do not have to be repaid.

 

Tags: Florida Small Business, Getting Started

 

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