4-6-2020 Update: SBA $10,000 EIDL Grant & PPP

070420 Like and subscribe. This is an archive, check the link in the end if you are owner. SBA update on when our $10k is coming. Learn the psychology of investing & making money, use code ⚠️MoneyFromHome⚠️ expires 4-15-2020 https://metkevin.com/program - ALSO Deposit $100, get💰2 Free Stocks 📈 https://metkevin.com/webullShow more

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⚠️4/6/2020 Updates from the SBA:⚠️

PPP (Paycheck Protection Program)
The PPP is forgivable money up to $10,000,000 if used for qualified expenses.
Sole properties can start applying on April 10th and most small businesses should be able to apply by 4/6/2020 at local banks/lenders. You can find lenders here: https://www.sba.gov/paycheckprotection/find

Express Bridge Loan: Up to $25k through a lender and payable THROUGH the EIDL if you get the EIDL as well. Though you're likely better off just applying for the EIDL grant and PPP.

SBA EIDL $10,000 Grant (Emergency Injury Disaster Loan):

Employee Retention Credit: Treasury-approved $5k in your pocket through saving on payroll taxes. Essentially, you can reduce your payroll taxes with your CPA for up to $5,000 as an advanced tax credit against up to $10,000 of wages.

Can you apply for both the PPP and EIDL? Yes, as long as the funds are used for different purposes. Otherwise you can refinance the EIDL with the PPP.

When is the SBA releasing the $10,000 EIDL grant money? The week of April 6th. Likely closer to April 11th. Make sure you've applied at their website. They may try to limit this based on employee count.

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