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Many argued that cutting the federal unemployment extension of $300 per week (initially $600 per week) would encourage people to return to the workforce. Ending Unemployment Benefits Is Not Prompting People To Seek Out WorkĢ6 states have ended the expanded unemployment benefits that began last year. Lawrence Yun, National Association of Realtors' Chief Economist, stated “It is still a very swift, fast-moving market, but there is some indication that the market is less intensely heated now than before."Ī cooling trend in the housing market would be welcomed by many homeowners who have been unable to keep up with rising house prices. Sales from June to July rose by 2% and increased by 1.5% compared to July 2020. Meanwhile, the housing market continues to do well. Some have pushed it back into 2022 as a result of Delta. Corporations such as Apple, Amazon, Facebook, and others have suspended or postponed their return-to-office date. The Delta variant has also been complicating matters as it continues to spread across America. Labor shortages, weakening demand, and consistent interruptions in shipping networks are holding businesses back, the IHS Markit survey indicated. Service providers and factories across America reported slower growth in August than anticipated. In the video above, we also talk important economic and unemployment news. Economy Growth Slowed In August But Housing Market Remains Stable This is to be used to make payments on your EIDL loan or other non-Covid disaster loans. Please be careful to provide your Account Number and Routing Number accurately, as this is the information that will be used to fund your loan if it is approved! If you are not sure of either number, we recommend contacting your bank or logging into your online banking account, which will typically list these numbers in the Information & Documents or similar section.Once you are at pay.gov, click on "Make a SBA 1201 Borrower Payment," which should be right in the middle of the page. In this section, you will be prompted to provide the funding account information. This step is completely optional please use it if you find it helpful or skip it if you would prefer to provide the required statements manually. Simply follow the steps within the pop-up modal to find your banking institution and link your account information.

Please note, these documents are required by the SBA before your loan can be funded. When you elect to upload documents, you will be able to upload each document as outlined in the document checklist. If you do not wish to upload documents at this stage, select Continue to advance to the next section of the application. Prior to submitting your application, you have the option to upload required supporting documentation. Once you have added all business owners, you will see a summary of the ownership information that has been provided. Please enter your business information here as it appears on your affiliate business’ tax records and answer the few simple questions about the capital requirements of that business. If you indicate Yes to having affiliates, the next screen will be the Affiliate Information section. To learn more about the SBA’s affiliation rules, please click here. You will be able to input the affiliate business’ information and answer simple questions about the capital requirements of that business on the next screen. If any guarantors (i.e., owners of 20% or more of the applicant business) hold 50% or more ownership of any other business, please select Yes to the affiliates question. Examples of available liquidity that may impact eligibility includes high personal net worth, easy access to traditional bank financing, or large cash balances on the business’ balance sheet. If you do not have access to liquidity elsewhere, simply select Yes – Liquidity is Unavailable to move forward. You will be able to attach the management agreement, if applicable, in the document upload section at the end of the application.īe sure to completely read each question and answer to the best of your ability, as incorrect answers could affect your eligibility.Įligibility Check-in: For SBA loan eligibility, we are required to confirm that your business does not have sufficient cash on hand or other liquidity to finance the loan request. (This is uncommon) Any Applicant owned in part, or in whole, by an ESOP or 401(k) plan must also provide to the Lender evidence that the Applicant, ESOP or the 401(k) plan is in compliance with all applicable IRS, Treasury, and Department of Labor requirements and it will comply with all relevant operating and reporting requirements. The SBA requires 100% of ownership to be disclosed, so you will need to enter information for each owner in this section. Please provide ownership information for each owner of the business.