https://fletcher.house.gov/uploadedfiles/sba_guide_final_updated_4.2.pdf
Webinar: Applying for the SBA Payroll Protection Program, Tue 4/14/2020 6:00-7:00PM
https://churchofjesuschrist.zoom.us/j/203177111?pwd=SkNyZS96TzdBWXh0QlkxNDFTNWJpQT09
Meeting ID: 203 177 111
Password: 597388
This Zoom meeting is for business owners who wish to obtain information on applying for the SBA’s Payroll Protection Program. c. Webinar: Small Business Loans, 30 min, daily at 11 am (Central Time)
https://769yv3el.pages.infusionsoft.net/
Reviewing : (EIDL emergency injury disaster loan Grants / Loans / Eligibility /Payroll Protection Program/Loan Forgiveness )
PPP Gold Rush Update 4/10
While confusion and frustration are still abundant around the PPP, the program has made remarkable progress in the past week. According to Senator Rubio’s office, as of 2:30 EST, more than 480,000 PPP loans have been authorized by the SBA for more than $124 B. That’s an average approval of $258,333.
Let’s be clear: most of this money has not hit the street yet. Lenders are struggling with closing processes, and guidance has been vague. I expect the closings to get much better next week. And for those hoping to delay their funding so that they can bring their employees back as late as possible, that’s not the intent of the program. Lenders are now required by law to release your funds within ten days of your approval.
There were lots of questions yesterday about whether it’s kosher to put in more than one application. I believe you can, but need to be careful.
Many people are wondering where there EIDL money is, after putting in their applications. Sadly, prepare to wait or not see money at all. @katerogers tweeted last night that according to a senior administration official, they have received EIDL application from nearly 4 MM businesses for a total ask of $383 B. Meanwhile, the program has been funded for a total of $10B. In Washington, all focus is on the PPP.
Today, April 10th is supposed to be the day the PPP program opens for self-employed and independent contractors. As of 7:45 this morning, there is no new application up on SBA.GOV, and I am not aware of any banks receiving guidance or direction on how to process these applications. This will likely become the next wave of frustration, as many will argue that the little guy is being left out.
Remember folks; new SCAMS are popping up every day. Be EXTREMELY careful about providing your personal information to anyone who is not an approved lender in the program. Our daily free webinars will continue today and for the foreseeable future with the most up to date information about the PPP and EIDL programs.
(Bob Wells, Partner, B2B CFO)
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