resources

25
Jun

What You Need to Know about Business Loan Protection and Why You Should Consider It

As a business owner, it is imperative not to default on your business loan payments. A default with your lender could have many negative outcomes – demolish your credit, assets could be taken away, your family may suddenly have to manage a financial hardship, etc. Our team is here to help you be proactive in the case that you become

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17
May

Round Two: What to do once you receive your second PPP loan

As a small business owner, the deadline for the Paycheck Protection Program, PPP is May 31, 2021 and until then, pending eligibility, you can apply through a participating lender. If you weren’t aware, eligible borrowers that previously received a PPP loan can apply for a SECOND loan or Second Draw PPP loan. If you qualify and receive the loan, you

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16
Feb

Charles Bailey’s re-appointment to NAGGL’s 2021 Board of Directors

National Association of Government Guaranteed Lenders (NAGGL), announced the re-elect of Charles Bailey, Founder and President of The Bailey Group, to its Board of Directors for 2021. “I am proud to have been recognized by re-appointment to the National Association of Government Guaranteed Lenders Board of Directors. This Board upholds the highest standards of service to business owners, SBA Lenders

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1
Oct

Have Questions? We have Answers.

The Bailey Group SBA Life Insurance Frequently Asked Questions: Will the bank be the beneficiary of my life insurance? No. You can name your beneficiaries (spouse, children, business partner) but the bank must be the assignee of your insurance policy. Can I assign my current life insurance policy instead of taking out a new policy? Yes, but most companies the

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15
Sep

Why You Should Obtain SBA Life Insurance as Early as Possible

Your SBA lender has informed you that life insurance is a requirement to be in place and assigned before you can close your loan. This will likely be one of a long list of items that must be completed before your loan can be funded and you should get started on obtaining your life insurance policy right away. Did you

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24
Aug

SBA, COVID-19, & Your Business Debt

The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic. As a part of the coronavirus debt relief efforts, the SBA will pay 6 months of principal, interest, and any associated fees on 7(a), 504, and Microloans disbursed prior to September 27, 2020. What does this mean for you and your business? Contact your lender if

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15
Jul

Managing Your Tax Bracket: Planning If Taxes Go Up and Planning If Taxes Go Down

The Bailey Group shares “Managing Your Tax Bracket: planning if taxes go up and planning if taxes go down,” resourced from Equitable.com It’s always important to diversify and spread your risk among many investments. Diversification can help protect you from fluctuations among different assets and asset classes.1 But, what about diversifying your tax rate exposure? By diversifying among different financial

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24
Jun

What To Do Once You Receive Your PPP Loan

So you’ve received your PPP loan, now what? As we continue to adjust to the new world that we live in, as a business owner PPP loan has become a common term. The Treasury Department released a new Loan Forgiveness Application and updated guidance, providing further clarification on the revisions to the loan forgiveness requirements. PPP loans are still available

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8
May

Life Insurance Reporting Platform Designed Exclusively for SBA Lenders

Most partners are aware that The Bailey Group can place life insurance policies quickly at no additional cost to borrowers; but did you know that lenders can save time and money by working with The Bailey Group? Since the SBA requires life insurance to stay in place for the life of the loan, countless hours are spent each year by

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16
Apr

Your Borrowers Can Get Life Insurance Fast and “Touch-Free” During the COVID-19 Pandemic

A global health crisis, like the unfortunate widespread COVID-19 outbreak, can understandably cause many small business owners to panic, especially clients in process of applying for an SBA loan. Our team at The Bailey Group is here to help. With our Instant Issue options, we have Contractual Agreements with multiple carriers that can provide qualified individuals life insurance policies up

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