#PPP #PaycheckProtectionProgram #SmallBusiness
In this video, I discuss how you can get the new PPP (Paycheck Protection Program) funds faster.
The new PPP funding ($310 billion) has been approved by Congress and soon will be signed by the President. When this funding is reopened, many banks and credit unions will give priority to those who previously applied but weren’t able to be considered before funding ran out.
If you didn’t already, you might wish to consider applying at:
A local bank or credit union in your community. Check online as they have had time to improve their applications and processing systems. They may have posted an online application.
An online lender, like PayPal, Square, Quickbooks Payroll, Kabbage, Veem, Lendio, and others. You can search for “online PPP lenders.” For most you will need to create a business account, which should be easy to do online. Paypal and Square will not require you to use their payment systems to apply for the loan.
If you are self-employed, a sole proprietor, 1099 independent contractor, gig worker, or sole-member or partner LLC, you will need your 2019 Schedule C. If you haven’t done it yet, you’ll need to. You will use line 31. Divide by 12 and multiply by 2.5.
If you don’t get PPP funding, then please talk to your accountant or read about claiming the Employee Retention Tax Credits for any employees you continued to pay during this time, as that can be a very significant write-off for your business.
Other videos that might help:
3 TIPS to build your business during quarantine - Reopen Stronger!: • 3 TIPS to build your b...
New PPP and EIDL funding and other grants for small businesses! 4-20 update: • New PPP and EIDL fundi...
How to manage employees working from home during Coronavirus quarantine!: • Video
General information about the PPP can be found here: www.sba.gov/funding-programs/...
General information about the EIDL can be found here: www.sba.gov/funding-programs/...
For the general Small Business Administration website for all Coronavirus help, go to: www.sba.gov/page/coronavirus-...
Lighting I use:
RGB LED light in the background (color). This is a great little LED light for color highlight less than $75!: amzn.to/2VUit4f
Side softbox lights: amzn.to/3cqYlNq
Lamp in the background: amzn.to/2RS7BSW
Microphone I use:
TACSTAR shotgun mic on a boom: amzn.to/2VlGMsA
Microphone stand: amzn.to/3amokEg
3.5 mm audio extension cable (10 feet): amzn.to/2ynSc6e
*I am an Amazon Affiliate member, so a small percentage of purchases you make from those links above go to fund this and other videos.
DISCLAIMER: Thank you for coming to this channel. The information presented here is for informational and educational purposes. The information presented on this channel should not be used as a substitute for the advice and counsel of financial and/or legal professionals familiar with your specific business and situation. You should visit the websites and agencies included above, and/or speak to their agents about your situation. You should always consult with your business partners (if you have any), an account, banker, and/or other financial and legal professionals to obtain the very best advice specific to your business and situation. Although every attempt was made to provide up-to-date and accurate information, no guarantee is made to that effect.