Even though some financing programs, such as PPP, have closed, there are still some financing options. For example, there’s still funding through COVID-19 EIDL. This is a low-interest, fixed rate loan repayable over 30 years. It’s designed to help overcome the effects of the pandemic by providing working capital. Loans may be as great as $2 million (the SBA began approving loans greater than $500,000 on October 8, 2021). Repayment is deferred for the first 2 years, although interest accrues. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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BOI reporting cont'd. But this isn’t the end of the story. The government filed a notice of appeal with the appellate court, and FinCEN says “deadline stay—voluntary submission only” (https://bit.ly/3ZpKxwU Note: There are cases challenging CTA that are still pending.