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COVID-19 and related restrictions have made it necessary for many business owners and commercial landlords to evaluate options and create some measure of flexibility. "These discussions require both sides to assess a variety circumstances and issues, many of which are in a state of flux due to the uncertainty of COVID-19," cautions real estate and finance attorney Steve Ostrow. He outlines some short-term options: Rent Relief: Deferral versus abatement of base rent only or all rent...

12 June, 2020

Before leaping into a new business opportunity, most entrepreneurs face the challenge of securing working capital. Although it’s not an easy task, it is essential to getting your idea off the ground. It’s also not a decision to take lightly, as the choice you make will stick with you for years to come, even after your business starts making a profit. You can set yourself up for a win by researching the different avenues available and...

02 June, 2020

Businesses reopening amidst uncertainty regarding regulations and safety are facing some challenging operating decisions. The U.S. Chamber of Commerce shares these eight strategies to reopen safely. Beefing up delivery, takeout and curbside Restaurants and retail stores have been hit hard by COVID-19, so those operations are making big changes to try to survive this challenging environment. In the restaurant world, many joints reopening are keeping dining rooms closed (even if they are allowed to open), and instead they’ve...

27 May, 2020

Sign of the Pampered Maiden is an iconic, enduring brand and luxury fashion destination in the heart of downtown Santa Fe, and it could be yours. A dramatically reduced price and supportive SBA programs make this a perfect opportunity to become part of the Santa Fe retail and fashion identity. Now listed at only $180,000, Pampered Maiden’s 2019 gross revenue was $615,266, with a cash flow of $74,417. Find more information about this exceptional opportunity here. Pampered...

15 May, 2020

The United States Chamber of Commerce has shared the following updates on PPP loan forgiveness amidst some confusion on the subject. For employers whose employees have chosen not to return to work, the Treasury Department has clarified its position on loan forgiveness. Specifically, if you’re an employer and want to bring an employee back who had previously been laid off, you will not be penalized if the employee chooses not to return. If you issue a...

08 May, 2020

Gov. Michelle Lujan Grisham announced last week that some businesses can begin to reopen (in modified form) and that others might be able to on May 15. To help businesses prepare, the Santa Fe Chamber of Commerce shared this useful checklist: Determine the square footage of your business and know how many customers can be inside the space at one time. Under possible new guidelines, businesses could be limited to 20% of your maximum capacity. ...

06 May, 2020

Lenders in New Mexico are still able to help businesses with loan applications for the U.S. Small Business Administration’s Paycheck Protection Program (PPP), Economic Development Department Cabinet Secretary Alicia J. Keyes said in a recent virtual roundtable discussion. As reported, Congress appropriated another $310 billion for crisis relief funding last week. As part of that bill, about 20 percent of the money ($60 billion) was reserved for small banks and community lenders. Applications reopened on April...

04 May, 2020

A Harvard Business Review article titled To See the Future of Competition, Look at Netflix resonates strongly just now. “As more and more of us turn to Netflix for entertainment, the company bears watching as a source of insights about the future of business and work,” writes author Bill Taylor. That seems to apply in the time of quarantine even more than when he wrote it. As the inventor of “binge watching,” Netflix has likely...

03 May, 2020

There can be no way around it, Inc. contributor Brian Hamilton’s April 2020 COVID-19 centered article, “6 Actions to Take in the Next 90 Days to Save Your Business,” isn’t pulling any punches. Hamilton, Founder of the Brian Hamilton Foundation, believes that the next 90-days could be make or break days for business owners looking to navigate the choppy waters of the COVID-19 pandemic. His latest Inc. article provides readers with 6 actions they should...

30 April, 2020

There can be no way around it, Inc. contributor Brian Hamilton’s April 2020 COVID-19 centered article, “6 Actions to Take in the Next 90 Days to Save Your Business,” isn’t pulling any punches.  Hamilton, Founder of the Brian Hamilton Foundation, believes that the next 90-days could be make or break days for business owners looking to navigate the choppy waters of the COVID-19 pandemic.  His latest Inc. article provides readers with 6 actions they should...

29 April, 2020

President Trump signed the legislation today to replenish business relief programs and support hospitals and COVID-19 testing. The package totals $484 billion and includes: An additional $310 billion in funding for the Paycheck Protection Program (PPP), with $60 billion reserved for small banks and lending institutions $75 billion for hospitals $25 billion to support testing efforts $60 billion for emergency disaster loans and grants (EIDLs) In a recent virtual town hall hosted by Inc., U.S. Chamber of...

24 April, 2020

Congress and the White House have reached an agreement for the second round of funding for business relief programs. Details are forthcoming. It's expected that the package will total $450 billion and include: $300 billion for the Small Business Administration’s popular Paycheck Protection Program (PPP) $50 billion for the Economic Injury Disaster Loan (EIDL) program $25 billion for testing $75 billion for hospitals Notably, $125 billion of the PPP money will be set reserved for small businesses...

21 April, 2020

The Paycheck Protection Program is now open to 1099 workers and independent contractors, of whom there are over 23 million in the U.S.. There has been a lot of confusion around how independent contractors interact with this program, and not a lot of guidance from the SBA or Treasury. In a virtual town hall hosted by Inc., a panel of experts shed some helpful light on this murky area. Panel: Kimberly Weisul, Inc. editor-at-large (Moderator) Neil Bradley, Executive...

14 April, 2020

It's fair to say that the Paycheck Protection Program's launch hasn't been perfectly smooth. The adjustment period as lenders familiarize themselves with unprecedented terms and the enormous volume of demand created a significant bottleneck. As some experts have warned, banks are prioritizing applicants with whom they have existing relationships. The systems to process all of this didn't immediately exist. After weeks of lobbying, FinTech (technology that supports banking and financial services) companies, including PayPal, Intuit, and...

13 April, 2020

In a moment of totally disrupted customer experience, marketing efforts risk coming across as not only irrelevant but downright crass. How can businesses continue to communicate with customers and share value? Focusing on mission statement and values in order to re-enforce marketing strategies is more important than ever. Information is Crucial Each customer purveying your business’s website needs to understand your hours of operation, any limitations to service and what is being done to ensure cleanliness.  Providing...

09 April, 2020