Business Insights
Being an entrepreneur requires initiative, drive, capital and ingenuity.
We have compiled a collection of informational insights to help you grow your business.
Business Term Loan vs. Line of Credit: What’s the Difference?
Term loans and lines of credit are two different ways small businesses can borrow capital from lenders. However, they operate differently and serve distinct purposes.
The Corporate Transparency Act and Beneficial Ownership Information Report: Everything You Need to Know
Small business owners need to stay informed about new regulations that may impact their operations. One such regulation is the Corporate Transparency Act (CTA), which
When Should I Get a Small Business Loan?
Access to capital is vital for small businesses, whether for growth, sustaining operations, or navigating challenges. However, deciding when to take on a business loan
Debt Consolidation vs. Refinancing
In the world of business finance, managing debt is a crucial aspect of keeping your operations running smoothly. Two common strategies for dealing with multiple
Business Loan Terms You Need To Know
You’ll encounter many terms when searching for a business loan. In this guide, we’ll walk you through all the essential terms related to small business
Small Business Loans for Women
Women-owned businesses are experiencing rapid growth and have become a vital part of the U.S. economy. Despite this progress, many female entrepreneurs still face challenges
Small Business Loans that Won’t Impact your Credit Score
As a small business owner, keeping track of your business’s financial health is crucial for long-term success. This includes monitoring cash flow, managing expenses, staying
Fixed vs. Variable Interest Loans: Which is Better for Your Business?
When it comes to financing your business, understanding the difference between fixed vs. variable interest rate loans is critical to making the best decision. Both
How to Apply for a SBA 7(a) Loan in 10 Minutes or Less
The SBA 7(a) loan program is a low interest, long-term, government backed loan for eligible small businesses. This program was designed for small businesses, so
How to Refinance Debt with an SBA 7(a) Loan
What is debt refinance? Debt refinancing replaces one or more existing debts with a new loan, often offering more favorable terms. This process helps businesses
Understanding and Managing Good vs. Bad Debt
Are you considering borrowing money? Many assume that all debt is bad, however, taking on debt for the right reasons can positively impact your financial
Debt Refinance; Boost your Business with an SBA 7(a) loan
Refinancing your debt can be a game-changer. If you’re carrying high interest debt, you’re not alone. Making high monthly payments can impair your cash flow
What are Startup Loans
Are you a small business owner seeking funding to grow your startup? You’ve probably encountered many ads for startup loans. Let’s explore what they are
Meet Sean and Helen – Pioneer Realty Group
“Being able to help our community, provide housing, and navigate the Real Estate landscape is our way of giving back to the community.” Sean and
ERC Update: Essential details from the IRS – June 2024
The IRS recently provided an Employee Retention Credit (ERC) update clarifying the status of outstanding claims, refund payment timing, and the processing moratorium. We’ve condensed
Meet Heather Polcaster – Tori Grace Outfitters
“Most of my years in business I was sewing and making everything in my house.” Heather Polcaster Owner of tori grace outfitters Meet Heather Polcaster,
Grants vs. Loans: Small Business Financing
Securing financing is crucial for the success of emerging small businesses. Small business owners have various funding options, including personal savings, loans, grants, crowdfunding, and
Meet Sade Jennings – MFABI Fulfillment
“What I loved about NEWITY was that they knew the rules and what the SBA needed.” Sade Jennings Owner of MFABI Fulfillment Meet Sade Jenning,
How to get a Larger Business Loan.
When you’re in the process of applying for a small business loan, lenders take a close look at certain metrics to gauge risk. Whether you
Impact of Next Week’s Federal Reserve Meeting on Small Business
Economists predict The Federal Reserve will vote to maintain current interest rates next week, holding off on rate cuts until late 2024 if at all
Top 5 Red Flags to watch for when Applying for a Business Loan
Are you in need of a business loan? Chances are you’ve encountered several loan applications in your search. It’s essential to keep an eye out
Meet Jen Nylin – Jenny in the City
“I encourage you to check out NEWITY, don’t make it hard for yourself, don’t complicate it, let them walk you through the process. It doesn’t
Meet Andres Plaza – OneconnectionIT
“You have to invest to be able to make money and it’s either coming out of pocket or you’re finding someone like NEWITY that’s going
How to Build your Business Credit Score
What is a business credit score? Your business credit score is a number ranging from 300-850 and serves as a measure of your business’ creditworthiness
Are SBA Loan Interest Rates Determined by the Lender?
Let’s talk about SBA loan interest rates. Since capital for SBA 7(a) loans is issued via banks, credit unions, and lenders, one question that comes
Meet Brian De Pinto – Photographer
“NEWITY really helped demystify the process and helped me get the funding I need to take my business to the next level.” Brian De Pinto
Can I still File for ERC? Has the ERC Filing Deadline Passed?
What you need to know following Tax Day 2024. The Senate continues to debate the bill that could alter ERC program filing deadlines. The existing
How does the WSJ Prime Rate Impact your Business Loan?
What is the WSJ Prime Rate? The Wall Street Journal Prime Rate, or the prime rate, is a benchmark interest rate commonly used by banks
How Quickly can you get an SBA Loan up to $500,000?
How quickly can you get an SBA loan up to $500,000? SBA loans along with other government-backed funding are notorious for being slow and time
Top 5 benefits of SBA 7(a) Loans.
How SBA 7(a) loans can help you secure more capital for less. You’ve likely heard SBA loans provide favorable terms compared to other loan options. What are
How to Qualify for an SBA 7(a) Loan for up to $500,000.
The top four requirements to receive an SBA 7(a) loan up to $500,000 through NEWITY. SBA loans offer some of the lowest interest rates and
Meet The Salgados – enFamilia
“I think the main ingredient with NEWITY was when we realized we can trust them”. Rocio Tafur-Salgado and Carlos E. Salgado Founders of enFamilia Meet
Small Business Week: How to Prepare
What is Small Business Week? In 1963, U.S. President Kennedy declared the first week of May as National Small Business Week to honor the contributions of entrepreneurs
Legislation Threatens End to ERC
Here’s what small business owners need to know about new legislation that could end the Employee Retention Credit (ERC) program on January 31, 2024. Update
Meet Rachelle Desrosiers – CEO of Madrelle
“I have been with my bank since 2008, and they have never offered the value that I am receiving from NEWITY.” Rachelle Desrosiers CEO of
Is a Grant or Loan Better for your Business?
If grants don’t need to be repaid, are they better than a loan for your business? What’s better, a grant or loan for your business?
Meet Lamar Jones – The Jank Gourmet BBQ Sauce
“Businesses that exist like NEWITY that are able to help you navigate funding are a big deal.” Lamar Jones Owner of The Jank Gourmet BBQ
How is NEWITY Different?
There are many groups that help small businesses access capital. If you’ve read our article about who provides small business loans, you might have noticed the
Case Study: Securing an SBA 7(a) Loan After Initial Ineligibility.
NEWITY’s approach to helping small businesses secure SBA 7(a) loans, even with low credit scores. GCT Company applied for an SBA 7(a) loan through the
Meet Annessa Pogson – Pack Man Moving
“It’s just one less thing you have to worry about when you’re doing something with NEWITY because you have someone to support you through that
Who Provides Small Business Loans?
A Guide to the Market As the financing market has evolved, new types of loan providers entered the small business loan market. Who are the
A Guide to Small Business Insurance
What is Small Business Insurance? Business insurance refers to a broad category of insurance policies designed to protect businesses against various risks and liabilities. These
Meet Troy Pommier – Kadex Masonry
“We didn’t really have to do much. Provide a few documents here and there and boom it was done.” Troy Pommier Owner of Kadex Masonry
How SBA Loan Rates Compare to Other Options
SBA loans offer some of the lowest interest rates for small business financing. In the table below, we’ve compared the average cost of a $250,000
Is there still time to file for ERC?
A chamber of Congress recently voted to pass legislation that ends the Employee Retention Credit (ERC) program on 1/31/24. Since we’re past 1/31 and into
Don’t Qualify for an SBA 7(a) Loan? – Some Alternative Options
At NEWITY, we aim to help small business owners get access to the capital they need to grow. Obtaining funds for business expansion can be
Meet David Jenkins – Jobsite Theater
“What I was most struck by was I had a single human being who helped me from the beginning and was with me every step
Congress Continues to Debate ERC Program
While Congress continues to debate legislation that would effectively end the Employee Retention Credit (ERC) program early – there’s a few things to consider: 1.
Meet Christine and Jonathon Erdeljac – Jonathon’s Diner
“The future is looking really good thanks to partners like NEWITY. It’s nice to know that you have a partner that’s honest, you can work
New Act Could End ERC January 31st.
The IRS could end ERC (the Employee Retention Credit program) sooner that we may think. Here is everything you need to know about the current
Meet Frances Hoover – Smith Memorial Playground
“When I am working with NEWITY, I do feel like it’s a company that cares, that I am not a transaction to them, that they
A Letter from our CEOs – What to Expect in 2024
Dear Member, Happy New Year! We’re excited to kick off 2024 with a preview of what lies ahead for our small business offerings here at
Meet Sara McCorriston – Paradigm Gallery
“NEWITY is your support system, they were the team behind you to help navigate what can be a very complicated process. NEWITY is the company
Kickstart your New Year with Cultivate Advisors
As we approach the new year, entrepreneurs and small business owners are gearing up for fresh opportunities, growth, and success. One resource that can play
The top seven business credit score FAQs
Credit scores are a key factor in determining your eligibility for a loan. We encounter the following questions from our members most frequently when inquiring
Prepare for tax season with Xendoo, your expert bookkeeping and tax team.
Tax Day will be upon us before you know it! A common mistake many small business owners make is not prioritizing their bookkeeping and tax
How to maintain and build your business credit score
Beyond understanding the factors that contribute to your credit score, there are a variety of scores, ratings, and agencies that can help you build and
Meet Donna Krom – White Mink Hair Salon
“The advice I have for small businesses is hang in there, have faith, and call NEWITY.” Donna Krom White Mink Hair Salon The White Mink
What contributes to your business and personal credit score?
Understanding what contributes to your credit score can help you identify areas in which to improve so you can increase your score. Generally, higher credit
Meet Esosa Edosomwan – The Raw Girl
Esosa Edosomwan, the founder of Raw Girl, is a certified nutrition specialist and behavioral coach. She helps people resolve their health conditions by getting to
Have a COVID-19 EIDL? Three things to know
Did you receive one of the 3.9 million COVID-19 Economic Disaster Recovery Loans (“EIDL”)? If you received a portion of the $380 billion issued through
Top five tips for harvesting year-end success
November and December are pivotal months for many small businesses. Marketing can help you harness the potential year-end earnings. Not sure where to start this
Meet Dr. Thomas Dawes – Dawes Family Medicine
“NEWITY re-ran the numbers and I asked, ‘is this real’? I had a second accountant look it over and they said, ‘Yeah, this is what
Three Ways Thriving Businesses Think About Capital
We often hear from businesses who need capital urgently. Some of the most crafty businesses, however, seek capital without urgency. What are the top three
Meet Matt O’Hara – Brooklyn Dip & Burger
“NEWITY really helped my small business and made me feel important.” Matt O’Hara Founder of Brooklyn Dip & Burger Brooklyn’s Hidden Gem Brooklyn Dip &
SBA 7(a) Eligibility Updates – The New Minimum Requirements for an SBA 7(a) Loan
With the SBA’s latest SOP changes, the minimum criteria required to qualify for an SBA 7(a) loan has lowered for larger loan amounts. To qualify
Four Factors Impacting Your Loan Size
The SBA lowered requirements for larger loan amounts earlier this year. This is great news, but some business owners still are unsure how loan sizes
How to Receive Your ERC Refund Fast – Even if You Already Filed
With the IRS’ recent Employee Retention Credit (ERC) processing moratorium, many small businesses are seeking solutions to receive their ERC refunds faster. NEWITY provides two
Meet Michael Gurval – ICA Risk Management Consultants
“The thing that sets NEWITY apart is that they take that extra step to go into all of the details. I would highly recommend people
Four Ways to Fuel Your Growth With a Business Loan
How to use a business loan strategically. The SBA recently changed its loan program rules, allowing small businesses to receive larger loan sizes with fewer
The SBA’s New Rules + How It Could Mean More Money for You
On August 1st, 2023, the SBA released Standard Operating Procedures (“SOP”) 50 10 7 with updated rules for approving and funding loans offered through the SBA’s 7(a) program.
Meet Ron Tornari – Chefs for Seniors
“I think NEWITY cares, they understand the small business and they know what we went through. NEWITY made me feel like they were working for
Deciphering the IRS ERC Update – What You Need to Know
On Thursday, September 14, the IRS issued an announcement regarding the Employee Retention Credit (ERC) program. This IRS release contained two major updates: 1) a
Meet Dr. Ashok Mehta – SimplyCare
“Who works around the clock to get their customers funding? NEWITY people.” Dr. Ashok Mehta Owner of SimplyCare A medical practice that patients have been
Letter from our CEOs
Hello Member, The IRS recently issued a press release, warning business owners of predatory ERC filers, noting the IRS would be increasingly focused on program
CEO Spotlight – Breef Marketing
Breef Marketing CEO George Raptis Answers Top 7 Questions For Small Business Owners 1. What is the number one misconception of marketing for small businesses?
Meet J. Marie Jones – Affirm The Word Literary
“For one thousand times I’m going to say I’m grateful, NEWITY is there as a partner.” J. Marie Jones Owner of Affirm The Word Literary
CEO Spotlight – Xendoo Accounting
Xendoo Accounting CEO Lil Roberts Answers Top 7 Questions For Small Business Owners 1. What is the number one misconception of accounting for small businesses?
ERC Advance Case Study: Beauty Salon
Business Outline Hannah is the business owner of a beauty salon in Seattle, WA. Her business was founded in 2013 and maintained 10-20 employees between
Insurance Requirements for SBA 7(a) Loans – The What’s and Why’s
Picture this: You’re moving smoothly down the path of getting funded for an SBA 7(a) loan and discover the SBA requires you have certain types
The Difference Between ERC Fast Track and ERC Advance
NEWITY offers two different ERC programs: ERC Fast Track and ERC Advance. Learn more about each offering and which may be the right fit for you. ERC
Meet Courtland Townsley – Touchstone Group Real Estate
“I wish I ran into NEWITY when I first started business” Courtland Townsley Managing Partner at Touchstone Group Real Estate Going above and beyond expectations
Meet Chelsea Joffray – The Hideout Salon and Lounge
“For any small business, you need funding before you know you need it.” Chelsea Joffray Owner and CEO of The Hideout Salon and Lounge in
Not All ERC Processors Are Created Equal
As we’ve shared, not all ERC processors are created equal. The IRS continues to warn business owners about ERC processors that over-promise credits, particularly as a result
CEO Spotlight – Mylo Insurance
Mylo Insurance CEO David Embry Answers Top 6 Questions For Small Business Owners 1. What is the number one misconception about small business insurance? The
Meet Eric Bryant – Cereal City Pediatrics
“NEWITY came and helped us in our time of need, definitely forever grateful.” Eric Bryant Owner and Pediatrician at Cereal City Pediatrics, Battle Creek, Michigan
SBA 7(a) Loan Prescreen Example: Texas BBQ Restaurant
Business Outline: Javier, the owner of a vibrant restaurant in San Antonio, Texas, made it through the pandemic and worked hard to retain as many
Meet Kayla Prestel – Feel Good Pilates
“NEWITY saw me and what my business was doing and offered a loan to me when nobody else did, I was invisible to all other
ERC + PPP | Top 5 FAQs you need to know
Did you have a PPP loan? You might qualify for Employee Retention Credits (ERC) because you retained employees during the pandemic. We’ve compiled the top FAQs related
CEO Spotlight – Cultivate Advisors
Cultivate Advisors CEO Casey Clark Answers Top 8 Questions For Small Business Owners 1. What is the number one reason small business owners fail or
Debunking the Top 5 Common SBA 7(a) Loan Myths
SBA 7(a) loans are becoming increasingly popular as credit becomes more difficult to secure from traditional lenders. However, like many government-sponsored products, there’s a significant
Meet Lincoln Baker – LabCo Electric
“NEWITY is filling a void in the marketplace for small businesses like mine, yes, absolutely.” Lincoln Baker Owner of Labco Electric Contracting Corporation in New
Introduction to the SBA’s 7(a) and 504 Program Changes
How 2023 SBA Business Loan Program Changes Will Affect Small Businesses We sat down with NEWITY’s Co-CEOs, Luke LaHaie and David Cody, to hear their
ERC Fast Track Case Study: Law Firm
Business Outline: Alex is the business owner of a law firm in NYC. His business was founded in 1989 and has maintained eight employees over
SBA 7(a) Part III – Frequently Asked Questions During the SBA 7(a) Application
NEWITY is committed to helping small businesses across the United States thrive, which is why we offer SBA 7(a) working capital loans up to $500,000. Compared
How New Businesses Could Claim ERC Up to $100K
New startup businesses that began operations in 2020 or 2021 may be eligible for the Employee Retention Credit (ERC), a significant tax credit worth up to
NEWITY’s Free ERC Shutdown Consultation
NEWITY’s Free ERC Shutdown Consultation: How to Prepare, What to Expect, and What Comes Next We recently sat down with NEWITY’s General Counsel and Executive
Tax Dos and Don’ts for Small Businesses
Most tax years require relatively similar information to the year prior, but business owners in 2023 have the unique opportunity to do more this tax
SBA 7(a) Application and Approval: Construction Management
Business Outline: Jack is the owner of a construction company in New York, NY. As Jack’s company grew, he realized he needed more capital to
ERC Calculation & Refund Example: Coffee Shop Owner
Business Outline Sue is the owner of a coffee shop in Michigan. Her business was founded in 2018 and she maintained 24 employees throughout 2020,
Top ERC Questions Answered By NEWITY’s ERC Expert Dane Colvin
NEWITY sat down with Employee Retention Credit (ERC) expert Dane Colvin, who recently hosted NEWITY’s How To Apply For ERC webinar. Spearheading the ERC program from
SBA 7(a) Loan Application Part 2: Documentation
NEWITY is committed to helping small businesses across the United States thrive, which is why we offer SBA 7(a) working capital loans up to $500,000.
Preparing for the SBA 7(a) Loan Application Part 1: Loan Eligibility
NEWITY continues its commitment to help small businesses thrive by offering SBA 7(a) working capital loans of up to $500,000. SBA 7(a) loans are an attractive
7(a) Loans Position SMBs for Growth in 2023
For businesses that made it through the coronavirus pandemic and the subsequent economic downturn, the current moment represents an exciting opportunity to bounce back and
Key PPP Forgiveness Questions for 2023
As the Paycheck Protection Program (PPP) has come to a close and most loan forgiveness decisions have already been made, NEWITY is here to answer
7 Benefits of SBA 7(a) Loans Compared to Alternatives
When searching for capital to grow your business, it can be difficult to discern the differences between financing options and loan types. This article outlines
Three Red Flags to Look Out For in ERC
Not all Employee Retention Credit (ERC) processing companies are equal. Here are three ERC processing red flags that you should never ignore. 1. Your ERC
Small Business Marketing Strategy and Plan For 2023
With the holidays over and people settling back into their typical routines, now is the best moment to think ahead and create a 2023 marketing
4 New Year’s Accounting Resolutions to Set in 2023
Many people set personal New Year’s resolutions every January, but business owners can also consider setting resolutions and goals for their company. What better area
7-Step Checklist for Year-End Accounting
The end of the year is a stressful time for small business owners, not only because of the holiday season, but also due to year-end
Answering Key Question About Employee Retention Credit (ERC)
NEWITY recently hosted a webinar on the Employee Retention Credit Program with Luke LaHaie, Co-Founder and Co-CEO and Dane Colvin, Senior Associate FP&A. They answered
SWOT Analysis for 2023 Planning
Small businesses are operating in a very different world post-pandemic. While COVID-19 created new obstacles for companies of all sizes, we can apply the lessons
Insurance Group Benefits: Definition, Types, and Costs for Small Businesses
Now that your business is up and running and you may be wondering if you can afford to start offering insurance – also known as
Small Business Marketing ROI: Definition, Calculation, and Uses
No business owner wants to waste money on marketing tactics that don’t work – that’s why tracking and optimizing marketing ROI is so helpful when
How Much Does a Bookkeeper Cost?
As a small business owner, you likely have a long to-do list and may not have the time or expertise to manage your own bookkeeping.
What are my Options if my PPP Loan is not Forgiven?
The Paycheck Protection Program (PPP) was implemented to provide financial relief to U.S. businesses during the COVID-19 pandemic. According to the latest data from PandemicOversight.gov,
The #1 Way to Boost your Likelihood of Approval for an SBA 7(a) Loan
The 7(a) loan program through the Small Business Administration (SBA) was created to provide access to capital for US small businesses who may otherwise have
What is the Employee Retention Credit (ERC) and Does My Business Qualify?
The pandemic prompted the creation of various programs to support small businesses. While most COVID-19 aid has ended, the Employee Retention Credit (ERC) is still
How to Identify your Target Audience as a Small Business
Marketing a small business comes with many challenges. How can you ensure you are targeting the right people with the right messages?
Since defining a
What Happens in a SBA Review After Applying for PPP Forgiveness?
The Paycheck Protection Program (PPP) was created to provide financial relief to U.S. businesses during the pandemic. If your PPP loan was selected for SBA
Reading your Statement of Cash Flows
Understanding how cash is entering and exiting your accounts is paramount to keeping your business financially healthy. This article will walk you through the specifics
6 Best Practices for Annual Insurance Policy Renewals
When you purchase an insurance policy for your business, the Declarations Page generally outlines the Terms and Conditions of the policy. Once your insurance policy
How Can SBA 7(a) Loans be Used for Small Businesses?
Most U.S. businesses are familiar with the Paycheck Protection Program (PPP) that provided loans during COVID-19, but some may not have heard about 7(a) loans:
PPP Loan Forgiveness: How to Apply and What Happens if I Don’t?
More than 11.5 million Paycheck Protection Program (PPP) loans were issued as financial relief during the COVID-19 pandemic. Loans are forgivable for businesses that used
The Top 3 Small Business Financial Statements You Need
If you are like most small business owners, accounting likely is not the reason you got into business, but understanding your key financial statements can
How to Build a Small Business Content Marketing Strategy
Most small business owners understand that marketing should play a role in their operations, but many don’t know where to start. One of the most
Do Small Businesses Need Cyber Liability Insurance?
As a small business owner, there’s a significant risk that you may not be paying enough attention to: cyberattacks. It’s becoming more common for cybercriminals
Accessing Capital During a Credit-Tightening Cycle
One of the first effects you might feel in a recession as a small business owner is the tightening of credit conditions.
During an
7 Top Strategies for Small Business Customer Retention
No matter which type of business you own, you have likely contemplated the merits of which is more important: customer retention or customer acquisition. The
Beyond PPP Loans: What’s the Next Option for Small Business Capital?
The Paycheck Protection Program (PPP) was an extremely popular financing option for many U.S. small businesses during the COVID-19 pandemic, as it offered favorable terms,
Small Business Accounting Preparation Before a Possible Recession
Small and medium businesses make up the vast majority of the U.S. economy – 99.9% of all businesses – so it’s understandable why many small
The Importance of Management Liability Insurance During a Recession
Economic downturns and recessions bring about a variety of challenges for businesses, from the obvious risk of lower revenues and higher costs, to less discussed
How SBA 7(a) Loans Help Small Businesses During a Recession
If you’re like most small business owners, you’re probably keeping a close eye on expert predictions about whether a recession is coming (or has already
The 7 Insurance Policies Every Restaurant Needs
When you first decided to open a restaurant, it was likely because of your love of food or a great concept idea. But having the
Social Media Marketing For Small Business Owners
As a small business owner , you know better than anyone that marketing can make or break your business. In 2022, social media marketing is
How Do Self Employed Individuals Calculate Payroll Costs For PPP Forgiveness?
If you are an Independent Contractor, Self-Employed Individual, or Sole Proprietor with no employees, your payroll costs are calculated straight from your Schedule C.
4 Crucial Metrics Behind Making Better Business Decisions
Business owners are busy and don’t have endless time to spend analyzing their financial data. Despite this fact, it is absolutely worth investing time to
What to Know About Life Insurance for Business Owners
The goal as a business owner with a life insurance policy is to protect your business as well as your family financially, while ensuring that
How To Plan Your Marketing Roadmap
In small business marketing, it pays to have a plan. Business owners can derive the most value from their marketing efforts by tracking key metrics
PPP Simple Forgiveness Journey using Form 3508S
If your PPP loan amount is $150,000 or less, you qualify to file for forgiveness using Form 3508S which is a one-page simplified version of
Using 7(a) Working Capital Financing To Fight Rising Costs Due To Inflation
Inflation in the United States has soared in the past year to 8.5% and according to many experts it is here to stay for the
Financial Templates: Balance Sheet, Profit & Loss, and Personal Financial Statement
One of the most important items on the list of a small business owner is to keep track of their finances. After guiding many small
Quick Guide to Business Insurance: How to Protect Your Business
Owning a business can be exciting and overwhelming. To protect your business and maintain your success, it’s important to have proper business insurance coverage. Not
2022 Marketing Review: Where to start
As a small business owner, you are focused on managing and growing your company every day. When reviewing each area of your marketing strategy it
Important 2021 Tax Due Dates and Quarterly Filing Deadlines
Tax season is underway and navigating this stressful time is never easy – especially for business owners. You’re pulling together your financial information, making calculations,
3 Important Tax Implications of PPP
Even if your Paycheck Protection Program (PPP) loan has been partially or fully forgiven, small business owners need to be aware of the tax implications
Did You Receive Less Forgiveness Than Expected on Your PPP Loan?
A new process to allow PPP borrowers to request an SBA loan review of partial approval forgiveness decisions issued by their PPP lenders.
5 Hidden Costs of Doing Your Own Small Business Bookkeeping
If you’re like many small business owners, doing your own bookkeeping may be a source of pride – especially if you’ve done it from the
A Business Insurance Roadmap
Your company changes over time, follow our roadmap to understand the insurance decisions you need to make along the way.
The Best Loan Option for Small Business
Even with a history of strong operations and good credit, many small business owners find that they do not fit the credit standards of traditional
Business Term Loan vs. Line of Credit: What’s the Difference?
Term loans and lines of credit are two different ways small businesses can borrow capital from lenders. However, they operate differently and serve distinct purposes.
The Corporate Transparency Act and Beneficial Ownership Information Report: Everything You Need to Know
Small business owners need to stay informed about new regulations that may impact their operations. One such regulation is the Corporate Transparency Act (CTA), which
When Should I Get a Small Business Loan?
Access to capital is vital for small businesses, whether for growth, sustaining operations, or navigating challenges. However, deciding when to take on a business loan
Debt Consolidation vs. Refinancing
In the world of business finance, managing debt is a crucial aspect of keeping your operations running smoothly. Two common strategies for dealing with multiple
Business Loan Terms You Need To Know
You’ll encounter many terms when searching for a business loan. In this guide, we’ll walk you through all the essential terms related to small business
Small Business Loans for Women
Women-owned businesses are experiencing rapid growth and have become a vital part of the U.S. economy. Despite this progress, many female entrepreneurs still face challenges
Small Business Loans that Won’t Impact your Credit Score
As a small business owner, keeping track of your business’s financial health is crucial for long-term success. This includes monitoring cash flow, managing expenses, staying
Fixed vs. Variable Interest Loans: Which is Better for Your Business?
When it comes to financing your business, understanding the difference between fixed vs. variable interest rate loans is critical to making the best decision. Both
How to Apply for a SBA 7(a) Loan in 10 Minutes or Less
The SBA 7(a) loan program is a low interest, long-term, government backed loan for eligible small businesses. This program was designed for small businesses, so
How to Refinance Debt with an SBA 7(a) Loan
What is debt refinance? Debt refinancing replaces one or more existing debts with a new loan, often offering more favorable terms. This process helps businesses
Understanding and Managing Good vs. Bad Debt
Are you considering borrowing money? Many assume that all debt is bad, however, taking on debt for the right reasons can positively impact your financial
What are Startup Loans
Are you a small business owner seeking funding to grow your startup? You’ve probably encountered many ads for startup loans. Let’s explore what they are
Meet Heather Polcaster – Tori Grace Outfitters
“Most of my years in business I was sewing and making everything in my house.” Heather Polcaster Owner of tori grace outfitters Meet Heather Polcaster,
Grants vs. Loans: Small Business Financing
Securing financing is crucial for the success of emerging small businesses. Small business owners have various funding options, including personal savings, loans, grants, crowdfunding, and
Meet Sade Jennings – MFABI Fulfillment
“What I loved about NEWITY was that they knew the rules and what the SBA needed.” Sade Jennings Owner of MFABI Fulfillment Meet Sade Jenning,
How to get a Larger Business Loan.
When you’re in the process of applying for a small business loan, lenders take a close look at certain metrics to gauge risk. Whether you
Top 5 Red Flags to watch for when Applying for a Business Loan
Are you in need of a business loan? Chances are you’ve encountered several loan applications in your search. It’s essential to keep an eye out
Meet Jen Nylin – Jenny in the City
“I encourage you to check out NEWITY, don’t make it hard for yourself, don’t complicate it, let them walk you through the process. It doesn’t
Meet Andres Plaza – OneconnectionIT
“You have to invest to be able to make money and it’s either coming out of pocket or you’re finding someone like NEWITY that’s going
How to Build your Business Credit Score
What is a business credit score? Your business credit score is a number ranging from 300-850 and serves as a measure of your business’ creditworthiness
Are SBA Loan Interest Rates Determined by the Lender?
Let’s talk about SBA loan interest rates. Since capital for SBA 7(a) loans is issued via banks, credit unions, and lenders, one question that comes
Meet Brian De Pinto – Photographer
“NEWITY really helped demystify the process and helped me get the funding I need to take my business to the next level.” Brian De Pinto
How does the WSJ Prime Rate Impact your Business Loan?
What is the WSJ Prime Rate? The Wall Street Journal Prime Rate, or the prime rate, is a benchmark interest rate commonly used by banks
How Quickly can you get an SBA Loan up to $500,000?
How quickly can you get an SBA loan up to $500,000? SBA loans along with other government-backed funding are notorious for being slow and time
Top 5 benefits of SBA 7(a) Loans.
How SBA 7(a) loans can help you secure more capital for less. You’ve likely heard SBA loans provide favorable terms compared to other loan options. What are
How to Qualify for an SBA 7(a) Loan for up to $500,000.
The top four requirements to receive an SBA 7(a) loan up to $500,000 through NEWITY. SBA loans offer some of the lowest interest rates and
Small Business Week: How to Prepare
What is Small Business Week? In 1963, U.S. President Kennedy declared the first week of May as National Small Business Week to honor the contributions of entrepreneurs
Meet Rachelle Desrosiers – CEO of Madrelle
“I have been with my bank since 2008, and they have never offered the value that I am receiving from NEWITY.” Rachelle Desrosiers CEO of
Is a Grant or Loan Better for your Business?
If grants don’t need to be repaid, are they better than a loan for your business? What’s better, a grant or loan for your business?
Meet Lamar Jones – The Jank Gourmet BBQ Sauce
“Businesses that exist like NEWITY that are able to help you navigate funding are a big deal.” Lamar Jones Owner of The Jank Gourmet BBQ
How is NEWITY Different?
There are many groups that help small businesses access capital. If you’ve read our article about who provides small business loans, you might have noticed the
Case Study: Securing an SBA 7(a) Loan After Initial Ineligibility.
NEWITY’s approach to helping small businesses secure SBA 7(a) loans, even with low credit scores. GCT Company applied for an SBA 7(a) loan through the
Meet Annessa Pogson – Pack Man Moving
“It’s just one less thing you have to worry about when you’re doing something with NEWITY because you have someone to support you through that
Who Provides Small Business Loans?
A Guide to the Market As the financing market has evolved, new types of loan providers entered the small business loan market. Who are the
How SBA Loan Rates Compare to Other Options
SBA loans offer some of the lowest interest rates for small business financing. In the table below, we’ve compared the average cost of a $250,000
Don’t Qualify for an SBA 7(a) Loan? – Some Alternative Options
At NEWITY, we aim to help small business owners get access to the capital they need to grow. Obtaining funds for business expansion can be
Meet David Jenkins – Jobsite Theater
“What I was most struck by was I had a single human being who helped me from the beginning and was with me every step
Meet Frances Hoover – Smith Memorial Playground
“When I am working with NEWITY, I do feel like it’s a company that cares, that I am not a transaction to them, that they
The top seven business credit score FAQs
Credit scores are a key factor in determining your eligibility for a loan. We encounter the following questions from our members most frequently when inquiring
How to maintain and build your business credit score
Beyond understanding the factors that contribute to your credit score, there are a variety of scores, ratings, and agencies that can help you build and
What contributes to your business and personal credit score?
Understanding what contributes to your credit score can help you identify areas in which to improve so you can increase your score. Generally, higher credit
Meet Esosa Edosomwan – The Raw Girl
Esosa Edosomwan, the founder of Raw Girl, is a certified nutrition specialist and behavioral coach. She helps people resolve their health conditions by getting to
Have a COVID-19 EIDL? Three things to know
Did you receive one of the 3.9 million COVID-19 Economic Disaster Recovery Loans (“EIDL”)? If you received a portion of the $380 billion issued through
Top five tips for harvesting year-end success
November and December are pivotal months for many small businesses. Marketing can help you harness the potential year-end earnings. Not sure where to start this
Three Ways Thriving Businesses Think About Capital
We often hear from businesses who need capital urgently. Some of the most crafty businesses, however, seek capital without urgency. What are the top three
Meet Matt O’Hara – Brooklyn Dip & Burger
“NEWITY really helped my small business and made me feel important.” Matt O’Hara Founder of Brooklyn Dip & Burger Brooklyn’s Hidden Gem Brooklyn Dip &
SBA 7(a) Eligibility Updates – The New Minimum Requirements for an SBA 7(a) Loan
With the SBA’s latest SOP changes, the minimum criteria required to qualify for an SBA 7(a) loan has lowered for larger loan amounts. To qualify
Four Factors Impacting Your Loan Size
The SBA lowered requirements for larger loan amounts earlier this year. This is great news, but some business owners still are unsure how loan sizes
Four Ways to Fuel Your Growth With a Business Loan
How to use a business loan strategically. The SBA recently changed its loan program rules, allowing small businesses to receive larger loan sizes with fewer
The SBA’s New Rules + How It Could Mean More Money for You
On August 1st, 2023, the SBA released Standard Operating Procedures (“SOP”) 50 10 7 with updated rules for approving and funding loans offered through the SBA’s 7(a) program.
SBA 7(a) Loan Prescreen Example: Texas BBQ Restaurant
Business Outline: Javier, the owner of a vibrant restaurant in San Antonio, Texas, made it through the pandemic and worked hard to retain as many
Introduction to the SBA’s 7(a) and 504 Program Changes
How 2023 SBA Business Loan Program Changes Will Affect Small Businesses We sat down with NEWITY’s Co-CEOs, Luke LaHaie and David Cody, to hear their
SBA 7(a) Part III – Frequently Asked Questions During the SBA 7(a) Application
NEWITY is committed to helping small businesses across the United States thrive, which is why we offer SBA 7(a) working capital loans up to $500,000. Compared
SBA 7(a) Application and Approval: Construction Management
Business Outline: Jack is the owner of a construction company in New York, NY. As Jack’s company grew, he realized he needed more capital to
SBA 7(a) Loan Application Part 2: Documentation
NEWITY is committed to helping small businesses across the United States thrive, which is why we offer SBA 7(a) working capital loans up to $500,000.
Preparing for the SBA 7(a) Loan Application Part 1: Loan Eligibility
NEWITY continues its commitment to help small businesses thrive by offering SBA 7(a) working capital loans of up to $500,000. SBA 7(a) loans are an attractive
7(a) Loans Position SMBs for Growth in 2023
For businesses that made it through the coronavirus pandemic and the subsequent economic downturn, the current moment represents an exciting opportunity to bounce back and
Key PPP Forgiveness Questions for 2023
As the Paycheck Protection Program (PPP) has come to a close and most loan forgiveness decisions have already been made, NEWITY is here to answer
7 Benefits of SBA 7(a) Loans Compared to Alternatives
When searching for capital to grow your business, it can be difficult to discern the differences between financing options and loan types. This article outlines
What are my Options if my PPP Loan is not Forgiven?
The Paycheck Protection Program (PPP) was implemented to provide financial relief to U.S. businesses during the COVID-19 pandemic. According to the latest data from PandemicOversight.gov,
The #1 Way to Boost your Likelihood of Approval for an SBA 7(a) Loan
The 7(a) loan program through the Small Business Administration (SBA) was created to provide access to capital for US small businesses who may otherwise have
What Happens in a SBA Review After Applying for PPP Forgiveness?
The Paycheck Protection Program (PPP) was created to provide financial relief to U.S. businesses during the pandemic. If your PPP loan was selected for SBA
How Can SBA 7(a) Loans be Used for Small Businesses?
Most U.S. businesses are familiar with the Paycheck Protection Program (PPP) that provided loans during COVID-19, but some may not have heard about 7(a) loans:
PPP Loan Forgiveness: How to Apply and What Happens if I Don’t?
More than 11.5 million Paycheck Protection Program (PPP) loans were issued as financial relief during the COVID-19 pandemic. Loans are forgivable for businesses that used
Accessing Capital During a Credit-Tightening Cycle
One of the first effects you might feel in a recession as a small business owner is the tightening of credit conditions.
During an
Beyond PPP Loans: What’s the Next Option for Small Business Capital?
The Paycheck Protection Program (PPP) was an extremely popular financing option for many U.S. small businesses during the COVID-19 pandemic, as it offered favorable terms,
How SBA 7(a) Loans Help Small Businesses During a Recession
If you’re like most small business owners, you’re probably keeping a close eye on expert predictions about whether a recession is coming (or has already
How Do Self Employed Individuals Calculate Payroll Costs For PPP Forgiveness?
If you are an Independent Contractor, Self-Employed Individual, or Sole Proprietor with no employees, your payroll costs are calculated straight from your Schedule C.
PPP Simple Forgiveness Journey using Form 3508S
If your PPP loan amount is $150,000 or less, you qualify to file for forgiveness using Form 3508S which is a one-page simplified version of
Using 7(a) Working Capital Financing To Fight Rising Costs Due To Inflation
Inflation in the United States has soared in the past year to 8.5% and according to many experts it is here to stay for the
Financial Templates: Balance Sheet, Profit & Loss, and Personal Financial Statement
One of the most important items on the list of a small business owner is to keep track of their finances. After guiding many small
Did You Receive Less Forgiveness Than Expected on Your PPP Loan?
A new process to allow PPP borrowers to request an SBA loan review of partial approval forgiveness decisions issued by their PPP lenders.
The Best Loan Option for Small Business
Even with a history of strong operations and good credit, many small business owners find that they do not fit the credit standards of traditional
A Guide to Small Business Insurance
What is Small Business Insurance? Business insurance refers to a broad category of insurance policies designed to protect businesses against various risks and liabilities. These
Kickstart your New Year with Cultivate Advisors
As we approach the new year, entrepreneurs and small business owners are gearing up for fresh opportunities, growth, and success. One resource that can play
Prepare for tax season with Xendoo, your expert bookkeeping and tax team.
Tax Day will be upon us before you know it! A common mistake many small business owners make is not prioritizing their bookkeeping and tax
Top five tips for harvesting year-end success
November and December are pivotal months for many small businesses. Marketing can help you harness the potential year-end earnings. Not sure where to start this
CEO Spotlight – Breef Marketing
Breef Marketing CEO George Raptis Answers Top 7 Questions For Small Business Owners 1. What is the number one misconception of marketing for small businesses?
CEO Spotlight – Xendoo Accounting
Xendoo Accounting CEO Lil Roberts Answers Top 7 Questions For Small Business Owners 1. What is the number one misconception of accounting for small businesses?
Insurance Requirements for SBA 7(a) Loans – The What’s and Why’s
Picture this: You’re moving smoothly down the path of getting funded for an SBA 7(a) loan and discover the SBA requires you have certain types
CEO Spotlight – Mylo Insurance
Mylo Insurance CEO David Embry Answers Top 6 Questions For Small Business Owners 1. What is the number one misconception about small business insurance? The
CEO Spotlight – Cultivate Advisors
Cultivate Advisors CEO Casey Clark Answers Top 8 Questions For Small Business Owners 1. What is the number one reason small business owners fail or
Tax Dos and Don’ts for Small Businesses
Most tax years require relatively similar information to the year prior, but business owners in 2023 have the unique opportunity to do more this tax
Small Business Marketing Strategy and Plan For 2023
With the holidays over and people settling back into their typical routines, now is the best moment to think ahead and create a 2023 marketing
4 New Year’s Accounting Resolutions to Set in 2023
Many people set personal New Year’s resolutions every January, but business owners can also consider setting resolutions and goals for their company. What better area
7-Step Checklist for Year-End Accounting
The end of the year is a stressful time for small business owners, not only because of the holiday season, but also due to year-end
SWOT Analysis for 2023 Planning
Small businesses are operating in a very different world post-pandemic. While COVID-19 created new obstacles for companies of all sizes, we can apply the lessons learned during the pandemic to develop better business plans for 2023 and beyond.
One of the most important pieces of any business plan is a SWOT analysis.
Insurance Group Benefits: Definition, Types, and Costs for Small Businesses
Now that your business is up and running and you may be wondering if you can afford to start offering insurance – also known as group benefits – for your employees. This is a great way to recruit, retain, and take care of your people.
What are group benefits? What are all the types of benefits that fall under this umbrella? How can you know whether your business can afford to offer them?
Small Business Marketing ROI: Definition, Calculation, and Uses
No business owner wants to waste money on marketing tactics that don’t work – that’s why tracking and optimizing marketing ROI is so helpful when choosing which campaigns to prioritize.
Marketing ROI: What it is? Why it’s important? How do you calculate it? What does it looks like in practice?
How Much Does a Bookkeeper Cost?
As a small business owner, you likely have a long to-do list and may not have the time or expertise to manage your own bookkeeping. Before you look for help with your books, you may be wondering – how much does a bookkeeper cost?
In this article, we’ll outline the costs of a bookkeeper, how their services compare to an accountant, as well as the costs you can expect from in-house, freelance, and online bookkeeping services.
How to Identify your Target Audience as a Small Business
Marketing a small business comes with many challenges. How can you ensure you are targeting the right people with the right messages?
Since defining a target audience is fundamental to marketing strategy success. Review our quick guide to learn more about what a target audience is, why defining it is important, and how to identify your target audience.
Reading your Statement of Cash Flows
Understanding how cash is entering and exiting your accounts is paramount to keeping your business financially healthy. This article will walk you through the specifics of one of the most important financial statements: the Statement of Cash Flows.
6 Best Practices for Annual Insurance Policy Renewals
When you purchase an insurance policy for your business, the Declarations Page generally outlines the Terms and Conditions of the policy. Once your insurance policy is up for renewal – what happens next? To help you navigate your renewal, review this quick guide to annual insurance policy renewals.
The Top 3 Small Business Financial Statements You Need
If you are like most small business owners, accounting likely is not the reason you got into business, but understanding your key financial statements can significantly impact the long-term success of your business. In this guide, you will learn about the top three financial statements that every small business owner can use to efficiently operate their business.
How to Build a Small Business Content Marketing Strategy
Most small business owners understand that marketing should play a role in their operations, but many don’t know where to start. One of the most valuable forms of marketing in 2022 for businesses of all sizes is content marketing.
In this quick guide, we’ll walk through what content marketing is, how it’s changing, and how to build a quality content marketing strategy for your small business.
Do Small Businesses Need Cyber Liability Insurance?
As a small business owner, there’s a significant risk that you may not be paying enough attention to: cyberattacks. It’s becoming more common for cybercriminals to go after small businesses and many are not prepared to deal with or respond to an attack.
7 Top Strategies for Small Business Customer Retention
No matter which type of business you own, you have likely contemplated the merits of which is more important: customer retention or customer acquisition. The answer is both, but also that it depends.
One thing is for certain: customer retention is a crucial piece of any successful business strategy. It will be especially important if the economy heads into a recession.
In this article, we’ll walk through the difference between customer retention and acquisition and give some examples of customer retention strategies you can try out in your own business.
Small Business Accounting Preparation Before a Possible Recession
Small and medium businesses make up the vast majority of the U.S. economy – 99.9% of all businesses – so it’s understandable why many small owners are worried about the impact of a possible recession. In this article, we’ll walk through what a recession is and how your small business can prepare to ensure your accounting and finances can weather a storm should it arrive.
The Importance of Management Liability Insurance During a Recession
Economic downturns and recessions bring about a variety of challenges for businesses, from the obvious risk of lower revenues and higher costs, to less discussed concerns such as potential cyber-attacks, fraud, and legal actions.
Some companies may look to cut back on insurance coverage during difficult times to lower costs, but this can have a dramatic impact on the amount of risk you take on. During a recession, having a management liability insurance portfolio is crucial to protect the business entity, management, and the bottom line.
The 7 Insurance Policies Every Restaurant Needs
When you first decided to open a restaurant, it was likely because of your love of food or a great concept idea. But having the right protections in place is key to keeping your restaurant open in the long-term while minimizing risk for yourself, your partners, your employees and your family.
Every restaurant and food service business is different, which means each one will have different insurance needs. However, there are some crucial policies that every business in the restaurant industry should have.
Social Media Marketing For Small Business Owners
As a small business owner , you know better than anyone that marketing can make or break your business. In 2022, social media marketing is a crucial component of any successful growth strategy.
It’s typical for members of a small business team to wear many hats. No matter your role or familiarity with social media, we’re here to help. This quick guide outlines why social media marketing is important, 10 tips for setting up your social media strategy, and the easiest way to get started.
4 Crucial Metrics Behind Making Better Business Decisions
Business owners are busy and don’t have endless time to spend analyzing their financial data. Despite this fact, it is absolutely worth investing time to understand how your business is performing and quickly spot any issues.
What to Know About Life Insurance for Business Owners
The goal as a business owner with a life insurance policy is to protect your business as well as your family financially, while ensuring that you’re not paying for more than you need, when you pass away. The best life insurance policy to consider is the one that safeguards the people you love and the business you’ve dedicated your life to building.
How To Plan Your Marketing Roadmap
In small business marketing, it pays to have a plan. Business owners can derive the most value from their marketing efforts by tracking key metrics of project success, staying organized, and efficiently pivoting away from strategies that are not working. “If no plan is in place,” notes Alex Detweiler, VP of Business Services at NEWITY, “entrepreneurs essentially throw their marketing budget against the wall and hope that something sticks.”
Quick Guide to Business Insurance: How to Protect Your Business
Owning a business can be exciting and overwhelming. To protect your business and maintain your success, it’s important to have proper business insurance coverage. Not sure what you need? This quick guide will help you get started.
2022 Marketing Review: Where to start
As a small business owner, you are focused on managing and growing your company every day. When reviewing each area of your marketing strategy it is easy to lose sight of your goals. To stay focused and on-track it is worthwhile to perform a periodic marketing review.
Important 2021 Tax Due Dates and Quarterly Filing Deadlines
Tax season is underway and navigating this stressful time is never easy – especially for business owners. You’re pulling together your financial information, making calculations, and filling out form after form, all while continuing to run your business as usual.
3 Important Tax Implications of PPP
Even if your Paycheck Protection Program (PPP) loan has been partially or fully forgiven, small business owners need to be aware of the tax implications of PPP to make the best decisions for their businesses
5 Hidden Costs of Doing Your Own Small Business Bookkeeping
If you’re like many small business owners, doing your own bookkeeping may be a source of pride – especially if you’ve done it from the start. Or, perhaps you see it as a cost-saving activity to maintain your earnings.
A Business Insurance Roadmap
Your company changes over time, follow our roadmap to understand the insurance decisions you need to make along the way.
ERC Update: Essential details from the IRS – June 2024
The IRS recently provided an Employee Retention Credit (ERC) update clarifying the status of outstanding claims, refund payment timing, and the processing moratorium. We’ve condensed
Can I still File for ERC? Has the ERC Filing Deadline Passed?
What you need to know following Tax Day 2024. The Senate continues to debate the bill that could alter ERC program filing deadlines. The existing
Meet The Salgados – enFamilia
“I think the main ingredient with NEWITY was when we realized we can trust them”. Rocio Tafur-Salgado and Carlos E. Salgado Founders of enFamilia Meet
Legislation Threatens End to ERC
Here’s what small business owners need to know about new legislation that could end the Employee Retention Credit (ERC) program on January 31, 2024. Update
Meet Troy Pommier – Kadex Masonry
“We didn’t really have to do much. Provide a few documents here and there and boom it was done.” Troy Pommier Owner of Kadex Masonry
Is there still time to file for ERC?
A chamber of Congress recently voted to pass legislation that ends the Employee Retention Credit (ERC) program on 1/31/24. Since we’re past 1/31 and into
Congress Continues to Debate ERC Program
While Congress continues to debate legislation that would effectively end the Employee Retention Credit (ERC) program early – there’s a few things to consider: 1.
Meet Christine and Jonathon Erdeljac – Jonathon’s Diner
“The future is looking really good thanks to partners like NEWITY. It’s nice to know that you have a partner that’s honest, you can work
New Act Could End ERC January 31st.
The IRS could end ERC (the Employee Retention Credit program) sooner that we may think. Here is everything you need to know about the current
Meet Dr. Thomas Dawes – Dawes Family Medicine
“NEWITY re-ran the numbers and I asked, ‘is this real’? I had a second accountant look it over and they said, ‘Yeah, this is what
How to Receive Your ERC Refund Fast – Even if You Already Filed
With the IRS’ recent Employee Retention Credit (ERC) processing moratorium, many small businesses are seeking solutions to receive their ERC refunds faster. NEWITY provides two
Meet Michael Gurval – ICA Risk Management Consultants
“The thing that sets NEWITY apart is that they take that extra step to go into all of the details. I would highly recommend people
Deciphering the IRS ERC Update – What You Need to Know
On Thursday, September 14, the IRS issued an announcement regarding the Employee Retention Credit (ERC) program. This IRS release contained two major updates: 1) a
ERC Advance Case Study: Beauty Salon
Business Outline Hannah is the business owner of a beauty salon in Seattle, WA. Her business was founded in 2013 and maintained 10-20 employees between
The Difference Between ERC Fast Track and ERC Advance
NEWITY offers two different ERC programs: ERC Fast Track and ERC Advance. Learn more about each offering and which may be the right fit for you. ERC
Not All ERC Processors Are Created Equal
As we’ve shared, not all ERC processors are created equal. The IRS continues to warn business owners about ERC processors that over-promise credits, particularly as a result
ERC + PPP | Top 5 FAQs you need to know
Did you have a PPP loan? You might qualify for Employee Retention Credits (ERC) because you retained employees during the pandemic. We’ve compiled the top FAQs related
ERC Fast Track Case Study: Law Firm
Business Outline: Alex is the business owner of a law firm in NYC. His business was founded in 1989 and has maintained eight employees over
How New Businesses Could Claim ERC Up to $100K
New startup businesses that began operations in 2020 or 2021 may be eligible for the Employee Retention Credit (ERC), a significant tax credit worth up to
NEWITY’s Free ERC Shutdown Consultation
NEWITY’s Free ERC Shutdown Consultation: How to Prepare, What to Expect, and What Comes Next We recently sat down with NEWITY’s General Counsel and Executive
ERC Calculation & Refund Example: Coffee Shop Owner
Business Outline Sue is the owner of a coffee shop in Michigan. Her business was founded in 2018 and she maintained 24 employees throughout 2020,
Top ERC Questions Answered By NEWITY’s ERC Expert Dane Colvin
NEWITY sat down with Employee Retention Credit (ERC) expert Dane Colvin, who recently hosted NEWITY’s How To Apply For ERC webinar. Spearheading the ERC program from
Three Red Flags to Look Out For in ERC
Not all Employee Retention Credit (ERC) processing companies are equal. Here are three ERC processing red flags that you should never ignore. 1. Your ERC
Answering Key Question About Employee Retention Credit (ERC)
NEWITY recently hosted a webinar on the Employee Retention Credit Program with Luke LaHaie, Co-Founder and Co-CEO and Dane Colvin, Senior Associate FP&A. They answered
What is the Employee Retention Credit (ERC) and Does My Business Qualify?
The pandemic prompted the creation of various programs to support small businesses. While most COVID-19 aid has ended, the Employee Retention Credit (ERC) is still
Meet Sean and Helen – Pioneer Realty Group
“Being able to help our community, provide housing, and navigate the Real Estate landscape is our way of giving back to the community.” Sean and
Meet Heather Polcaster – Tori Grace Outfitters
“Most of my years in business I was sewing and making everything in my house.” Heather Polcaster Owner of tori grace outfitters Meet Heather Polcaster,
Meet Sade Jennings – MFABI Fulfillment
“What I loved about NEWITY was that they knew the rules and what the SBA needed.” Sade Jennings Owner of MFABI Fulfillment Meet Sade Jenning,
Meet Jen Nylin – Jenny in the City
“I encourage you to check out NEWITY, don’t make it hard for yourself, don’t complicate it, let them walk you through the process. It doesn’t
Meet Andres Plaza – OneconnectionIT
“You have to invest to be able to make money and it’s either coming out of pocket or you’re finding someone like NEWITY that’s going
Meet Brian De Pinto – Photographer
“NEWITY really helped demystify the process and helped me get the funding I need to take my business to the next level.” Brian De Pinto
Meet The Salgados – enFamilia
“I think the main ingredient with NEWITY was when we realized we can trust them”. Rocio Tafur-Salgado and Carlos E. Salgado Founders of enFamilia Meet
Meet Rachelle Desrosiers – CEO of Madrelle
“I have been with my bank since 2008, and they have never offered the value that I am receiving from NEWITY.” Rachelle Desrosiers CEO of
Meet Lamar Jones – The Jank Gourmet BBQ Sauce
“Businesses that exist like NEWITY that are able to help you navigate funding are a big deal.” Lamar Jones Owner of The Jank Gourmet BBQ
Meet Annessa Pogson – Pack Man Moving
“It’s just one less thing you have to worry about when you’re doing something with NEWITY because you have someone to support you through that
Meet Troy Pommier – Kadex Masonry
“We didn’t really have to do much. Provide a few documents here and there and boom it was done.” Troy Pommier Owner of Kadex Masonry
Meet David Jenkins – Jobsite Theater
“What I was most struck by was I had a single human being who helped me from the beginning and was with me every step
Meet Christine and Jonathon Erdeljac – Jonathon’s Diner
“The future is looking really good thanks to partners like NEWITY. It’s nice to know that you have a partner that’s honest, you can work
Meet Frances Hoover – Smith Memorial Playground
“When I am working with NEWITY, I do feel like it’s a company that cares, that I am not a transaction to them, that they
Meet Sara McCorriston – Paradigm Gallery
“NEWITY is your support system, they were the team behind you to help navigate what can be a very complicated process. NEWITY is the company
Meet Donna Krom – White Mink Hair Salon
“The advice I have for small businesses is hang in there, have faith, and call NEWITY.” Donna Krom White Mink Hair Salon The White Mink
Meet Esosa Edosomwan – The Raw Girl
Esosa Edosomwan, the founder of Raw Girl, is a certified nutrition specialist and behavioral coach. She helps people resolve their health conditions by getting to
Meet Dr. Thomas Dawes – Dawes Family Medicine
“NEWITY re-ran the numbers and I asked, ‘is this real’? I had a second accountant look it over and they said, ‘Yeah, this is what
Meet Matt O’Hara – Brooklyn Dip & Burger
“NEWITY really helped my small business and made me feel important.” Matt O’Hara Founder of Brooklyn Dip & Burger Brooklyn’s Hidden Gem Brooklyn Dip &
Meet Michael Gurval – ICA Risk Management Consultants
“The thing that sets NEWITY apart is that they take that extra step to go into all of the details. I would highly recommend people
Meet Ron Tornari – Chefs for Seniors
“I think NEWITY cares, they understand the small business and they know what we went through. NEWITY made me feel like they were working for
Meet Dr. Ashok Mehta – SimplyCare
“Who works around the clock to get their customers funding? NEWITY people.” Dr. Ashok Mehta Owner of SimplyCare A medical practice that patients have been
Meet J. Marie Jones – Affirm The Word Literary
“For one thousand times I’m going to say I’m grateful, NEWITY is there as a partner.” J. Marie Jones Owner of Affirm The Word Literary
Meet Courtland Townsley – Touchstone Group Real Estate
“I wish I ran into NEWITY when I first started business” Courtland Townsley Managing Partner at Touchstone Group Real Estate Going above and beyond expectations
Meet Chelsea Joffray – The Hideout Salon and Lounge
“For any small business, you need funding before you know you need it.” Chelsea Joffray Owner and CEO of The Hideout Salon and Lounge in
Meet Eric Bryant – Cereal City Pediatrics
“NEWITY came and helped us in our time of need, definitely forever grateful.” Eric Bryant Owner and Pediatrician at Cereal City Pediatrics, Battle Creek, Michigan
Meet Kayla Prestel – Feel Good Pilates
“NEWITY saw me and what my business was doing and offered a loan to me when nobody else did, I was invisible to all other
Meet Lincoln Baker – LabCo Electric
“NEWITY is filling a void in the marketplace for small businesses like mine, yes, absolutely.” Lincoln Baker Owner of Labco Electric Contracting Corporation in New
Debt Refinance; Boost your Business with an SBA 7(a) loan
Refinancing your debt can be a game-changer. If you’re carrying high interest debt, you’re not alone. Making high monthly payments can impair your cash flow
Impact of Next Week’s Federal Reserve Meeting on Small Business
Economists predict The Federal Reserve will vote to maintain current interest rates next week, holding off on rate cuts until late 2024 if at all
Are SBA Loan Interest Rates Determined by the Lender?
Let’s talk about SBA loan interest rates. Since capital for SBA 7(a) loans is issued via banks, credit unions, and lenders, one question that comes
How Quickly can you get an SBA Loan up to $500,000?
How quickly can you get an SBA loan up to $500,000? SBA loans along with other government-backed funding are notorious for being slow and time
Top 5 benefits of SBA 7(a) Loans.
How SBA 7(a) loans can help you secure more capital for less. You’ve likely heard SBA loans provide favorable terms compared to other loan options. What are
How to Qualify for an SBA 7(a) Loan for up to $500,000.
The top four requirements to receive an SBA 7(a) loan up to $500,000 through NEWITY. SBA loans offer some of the lowest interest rates and
Is a Grant or Loan Better for your Business?
If grants don’t need to be repaid, are they better than a loan for your business? What’s better, a grant or loan for your business?
How SBA Loan Rates Compare to Other Options
SBA loans offer some of the lowest interest rates for small business financing. In the table below, we’ve compared the average cost of a $250,000
New Act Could End ERC January 31st.
The IRS could end ERC (the Employee Retention Credit program) sooner that we may think. Here is everything you need to know about the current
A Letter from our CEOs – What to Expect in 2024
Dear Member, Happy New Year! We’re excited to kick off 2024 with a preview of what lies ahead for our small business offerings here at
Three Ways Thriving Businesses Think About Capital
We often hear from businesses who need capital urgently. Some of the most crafty businesses, however, seek capital without urgency. What are the top three
Four Factors Impacting Your Loan Size
The SBA lowered requirements for larger loan amounts earlier this year. This is great news, but some business owners still are unsure how loan sizes
Four Ways to Fuel Your Growth With a Business Loan
How to use a business loan strategically. The SBA recently changed its loan program rules, allowing small businesses to receive larger loan sizes with fewer
Deciphering the IRS ERC Update – What You Need to Know
On Thursday, September 14, the IRS issued an announcement regarding the Employee Retention Credit (ERC) program. This IRS release contained two major updates: 1) a
Letter from our CEOs
Hello Member, The IRS recently issued a press release, warning business owners of predatory ERC filers, noting the IRS would be increasingly focused on program
ERC + PPP | Top 5 FAQs you need to know
Did you have a PPP loan? You might qualify for Employee Retention Credits (ERC) because you retained employees during the pandemic. We’ve compiled the top FAQs related
Debunking the Top 5 Common SBA 7(a) Loan Myths
SBA 7(a) loans are becoming increasingly popular as credit becomes more difficult to secure from traditional lenders. However, like many government-sponsored products, there’s a significant