TFU 033: Seth Block: You took out an EIDL loan during Covid and now you need new funding. What do you do?
Listen now
Description
During the Covid-19 pandemic, the US Government created EIDL loans through the SBA, which were designed for small businesses.  With low-interest rates and 30-year terms, these loans were created to help small businesses stay afloat during the pandemic’s economic slowdown.  The loans required the SBA to put a perfected security interest lien in place against a company’s assets, meaning no other lender could use your company’s assets as collateral.  This creates a problem when you need more funding from other sources.  Join Seth Block as he discusses strategies to keep your SBA loan in place while renegotiating your SBA-encumbered assets to help you grow. About The Funding University: The mission of The Funding University is to Enable Funding around the world. Hosted by Seth Block, CPA. Visit The Funding University: ⁠https://www.thefundinguniversity.com⁠ Get Access To: 1. Blog: ⁠https://www.thefundinguniversity.com/blog⁠ 2. CPE Courses & Modules: ⁠https://www.thefundinguniversity.com/cpe⁠ 3. TFU Masterclass: ⁠https://www.thefundinguniversity.com/masterclass⁠ 4. Funding Expert Certification: ⁠https://www.thefundinguniversity.com/certification
More Episodes
Today we tackle an issue that is causing headaches for companies when they go to get new financing. That is a UCC filing popping up that the business owner was not aware of. This turns out to be from secondary lenders, such as Merchant Cash Advances, or in some cases their vendors. I will...
Published 09/10/24
Today we welcome Ross Mcclain of Rapid Business Systems to the podcast. Ross explains to us what a feasibility study is, and the importance of having a credentialed firm do the study so that the bank will accept it and what is involved in it. Ross gives us some highlights of feasibility studies....
Published 08/06/24