5 DAYS LEFT! PPP EIDL UPDATE Stimulus Disaster Relief Self Employed $10,000 Small Business Grants

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5 DAYS LEFT! PPP EIDL UPDATE Stimulus Disaster Relief Self Employed $10,000 Small Business Grants

With the deadline for the second round of PPP loans coming up later this month, March 31st, I thought it would be interesting to see the latest stats on the disbursement of SBA disaster relief loans for small businesses across America.

According to the Wall Street Journal: As of Feb. 28, the SBA had approved 2.2 million PPP loans totaling about $156 billion—just over half the funds available—during the second round of funding.

Tony Wilkinson, chief executive of the National Association of Government Guaranteed Lenders, stated: “The program will likely finish with money left on the table.”

With just weeks remaining for you to get your own small business a forgivable disaster relief loan, stay tuned to the end of this video for details on how you can get one of these life saving government SBA loans.

Meanwhile, we talked about Green Bay Packers quarterback Aaron Rodgers helping out small businesses with free grant money, and now his team’s fellow citymate, the Milwaukee Bucks, are getting in the game of handing out money to local companies in need of fiscal support.

The NBA team will be providing 20 small businesses with free grants for $10,000, for small, minority-owned businesses in the Milwaukee area.

Bucks President Peter Feigin explained: "Small businesses are really the lifeblood of our entire economy. We feel a responsibility to support that and if we're able to do that with resources and capital and technology, it works out well."

I couldn’t agree more, and I hope that other sports teams and athletes can boost the local economies and spirits with free grant money for struggling small businesses.

Finally, the SBA published some new rules and regulations for PPP loans moving forward, with some better terms and the opportunity to claim more money for the smallest businesses and little guys.

According to the Journal of Accountancy: “The change opens the door for larger loans to self-employed individuals, many of whom don’t record much, if any, net profit on their Schedule C.”

This new rule revises the maximum loan calculations for sole proprietors who file Schedule C returns, but unfortunately, the change is not retroactive.

So if you still haven’t collected a forgivable PPP loan for your small business, and you’re one of the little guys with 20 or fewer employees, you have just 5 days remaining in your exclusive window to apply for these SBA disaster relief stimulus funds.

Source: https://apple.news/AeiBHtEkLQWiNktMojguW8A

https://www.jsonline.com/story..../money/business/2021

https://www.journalofaccountan....cy.com/news/2021/mar






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