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Photo by Kelly Sikkema on Unsplash

After a year of heartache, worry, and sleepless nights for so many small business owners, more relief is finally on the way. Congress has allocated $285 billion to reopen the Paycheck Protection Program (PPP). Though it took months of political bickering, politicians have put the needs of America’s small businesses into a compromise that will get much-needed capital into the hands of business owners.

Fortunately, in this new round of PPP, there are provisions designed to help the smallest businesses and the ones struggling the most. …


Pandemic restrictions made 2020 a tough year for businesses, and 2021 isn’t looking any easier. Because of this, the Paycheck Protection Program (PPP), which offered loans to companies in April of 2020 to help businesses keep their doors open, is funding a second round of loans in January 2021.

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I recently held a Q&A detailing some of the policies of round 2 of the PPP loans and how Lendio can help businesses apply for those loans.

Our goal is to give business owners the best and easiest access to funding for their businesses: “Let us do everything we can to…


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This story originally appeared on Forbes.

Over the past three months, my team and I have been nearly 100% dedicated to Paycheck Protection Program (PPP) loans. When most individuals were quarantined to their homes, increasing the time spent with loved ones, our families were neglected as we spent thousands of hours adding PPP lenders to our marketplace, building PPP loan application technology from scratch and helping 100,000 small businesses save their American dream.

While I describe the experience as one that’s taken 10 years off my life, it is also one of the most meaningful opportunities of my career. Our…


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To say the last few months have been tumultuous would be an understatement, especially in the small business world. When COVID-19 made its presence known and stay-at-home orders became the norm, many small businesses across the country were forced to pivot or shutter. When the doors of small businesses close, people are left without jobs, towns and cities are left without a sense of community, and business owners are left to fear for their future.

Yet while the situation looked dire for many businesses, something incredible happened. As the country came to a standstill, small business owners stepped up in…


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Photo by Zac Nielson on Unsplash

This story originally appeared on Forbes.

The Paycheck Protection Program (PPP) funds have been exhausted. In less than two weeks, $349 billion has been claimed by around 1.6 million small business owners. While that may seem like a lot, 1.6 million is a mere 6% of America’s small businesses. This means 94% of small business owners, many of whom have applications pending both with Lendio and other lenders, have been left to fend for themselves.

As someone who has spent my entire career focused on solving problems for small business owners, that 94% statistic hits me hard. As thrilled as…


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Photo by Tim Mossholder on Unsplash

This story originally appeared on Forbes.

The COVID-19 pandemic is unlike any crisis we’ve faced in the past. The stock market has dropped tremendously over the past few weeks, the Federal Reserve has cut rates to almost zero, and many businesses have been forced to significantly change how they operate. Prominent venture capital firm Sequoia has called the crisis the “Black Swan of 2020.”

While many businesses have the ability to allow their employees to work remotely, many do not, and their revenues will suffer as people remain home. Governments across the country have mandated that restaurants and bars be…


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This article originally appeared on Forbes.

There’s a reason why Amazon is one of the most valuable companies in the world: efficiency. There’s not much to fuss about: your address and payment information are stored for seamless purchases. If you want to buy something, you can usually get it with a few clicks and within a few days (sometimes less). If you’re like me, most of the time when you shop on Amazon, you don’t care who the fulfillment partner is — you just want to buy a product.

While Amazon pioneered the fully online retail experience, brands in diverse…


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Kevin Banahan, owner of SKATEYOGI | LUKE YAMADA, LENDIO

This article originally appeared on Forbes.

Kevin Banahan operated his Brooklyn-based skateboarding academy as a side gig for years, renting space from another business. Eventually, he and his partner decided the academy had grown strong enough to merit its own location.

When Banahan’s local bank wouldn’t grant him a loan to establish a physical space for SKATEYOGI, due to his lack of collateral, he applied for financing through Lendio’s marketplace. Banahan received a loan of about $35,000 from American Express that was based on his business credit card sales.

“We probably spent about $50,000 on our buildout,” he shares. “The…


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Photo by CoWomen on Unsplash

This article originally appeared on Forbes.

Women, especially women of color, not only earn less than men in the workforce but are also less likely to get access to capital for their businesses. Perhaps the most sobering statistic is that in all of 2018, women had a meager 2.2% share of the $130 billion given out in venture capital. And that was a $1 billion improvement over the prior year.

Unfortunately, things didn’t improve at the start of 2019. According to Crunchbase, 17% of VC dollars went to companies with at least one female founder. But for businesses with only…


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Photo by Vladimir Solomyani on Unsplash

This article originally appeared on Forbes.

In July the U.S. economy saw 121 months of economic expansion, breaking the previous record. But with that good news comes a caveat: the economy is due for another recession. The Federal Reserve of New York has pegged the chances of a recession beginning next year at about 33 percent. This is based on the yield curve as a primary indicator, which looks at short-term versus long-term interest rates on government bonds.

Economists use many indicators to predict downturns, and the current economic signals are mixed based on which you choose to look at…

Brock Blake

Founder and CEO at Lendio, the nation’s largest marketplace for small business financing

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