While the Payment Protection Program is apparently under funded, the Senate is working on another possible $2 Trillion Stimulus, with potentially more free money coming - enjoy! Add me on Instagram: GPStephan
Get 2 Free Stocks on WeBull when you deposit $100 (Valued up to $1400): https://act.webull.com/k/Vowbik9Tm5he/main
NEW: JOIN THE WEEKLY MENTORSHIP - https://the-real-estate-agent-academy.teachable.com/p/graham-stephan-mentorship-program/
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
Within DAYS of being released…the small business loan program, known as the Payment Protection Plan, which pledged $349 billion dollars worth of forgivable loans for employers to retain employees…saw 178,000 applications. And that meant, very quickly…the available money was drying up, and there wouldn’t be enough left over for everyone who needs assistance.
https://www.vox.com/2020/4/7/21209584/paycheck-protection-program-banks-access
Now, for anyone who’s unfamiliar with how this works…it’s a loan program for small businesses, who have under 500 employees, to retain their workers during a time where - otherwise - they’d be let go. This loan is given to businesses in the amount of 2.5x their payroll cost, up to $10 million dollars…AND as long as 75% of that money goes towards qualified expenses - like, actually maintaining their payroll, the loan will be forgiven…meaning, you don’t need to pay it back. And that’s where the “Free Money” term comes in.
So, in an effort to relief some of these concerns, to get money to people who were promised relief within 3 days from applying, but got nothing…they’ve expanded on ANOTHER loan program, called the SBA Express Bridge Loan!
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-express-bridge-loans
Although, I gotta say…given how quickly this is rushed out, it’s kinda no surprise that they’re worried about running out of money, and need to ask for another $250 billion….after all, it’s probably better to have a surplus of too much funding so as not to cause businesses to panic about a lack of funding. HOWEVER, instead of throwing more money at the problem - you’d think it would probably be a much better idea just to use those resources in actually GETTING that money to businesses in need, within the next 5-7 days maximum.
After all, what good is an extra $250 billion dollars if no one gets it? Or, if there’s so much confusion that no one knows when or how much they’re receiving?
So, for anyone wanting an update on their EIDL Loan, or the 2.5 Months worth of “FREE MONEY” from the Paycheck Protection Program…there you go. The good news is that, it looks like they’ll continue funding the program with $250 billion more to make sure there’s enough to go around for everyone…and, Wells Fargo is going to hopefully be accepting applications again…but, who knows when you’ll actually get anything.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
Get 2 Free Stocks on WeBull when you deposit $100 (Valued up to $1400): https://act.webull.com/k/Vowbik9Tm5he/main
NEW: JOIN THE WEEKLY MENTORSHIP - https://the-real-estate-agent-academy.teachable.com/p/graham-stephan-mentorship-program/
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
Within DAYS of being released…the small business loan program, known as the Payment Protection Plan, which pledged $349 billion dollars worth of forgivable loans for employers to retain employees…saw 178,000 applications. And that meant, very quickly…the available money was drying up, and there wouldn’t be enough left over for everyone who needs assistance.
https://www.vox.com/2020/4/7/21209584/paycheck-protection-program-banks-access
Now, for anyone who’s unfamiliar with how this works…it’s a loan program for small businesses, who have under 500 employees, to retain their workers during a time where - otherwise - they’d be let go. This loan is given to businesses in the amount of 2.5x their payroll cost, up to $10 million dollars…AND as long as 75% of that money goes towards qualified expenses - like, actually maintaining their payroll, the loan will be forgiven…meaning, you don’t need to pay it back. And that’s where the “Free Money” term comes in.
So, in an effort to relief some of these concerns, to get money to people who were promised relief within 3 days from applying, but got nothing…they’ve expanded on ANOTHER loan program, called the SBA Express Bridge Loan!
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-express-bridge-loans
Although, I gotta say…given how quickly this is rushed out, it’s kinda no surprise that they’re worried about running out of money, and need to ask for another $250 billion….after all, it’s probably better to have a surplus of too much funding so as not to cause businesses to panic about a lack of funding. HOWEVER, instead of throwing more money at the problem - you’d think it would probably be a much better idea just to use those resources in actually GETTING that money to businesses in need, within the next 5-7 days maximum.
After all, what good is an extra $250 billion dollars if no one gets it? Or, if there’s so much confusion that no one knows when or how much they’re receiving?
So, for anyone wanting an update on their EIDL Loan, or the 2.5 Months worth of “FREE MONEY” from the Paycheck Protection Program…there you go. The good news is that, it looks like they’ll continue funding the program with $250 billion more to make sure there’s enough to go around for everyone…and, Wells Fargo is going to hopefully be accepting applications again…but, who knows when you’ll actually get anything.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
Do a quick google search for ECOM BAZZOID someone posted your courses Graham
Do a quick google search for ECOM BAZZOID someone posted your courses Graham
Hulk smash Button!!
I wouldn't call shake shake or the Lakers, a "small business".
Is it a good idea to take out a personal loan at a time like this?
The government should just deposit the funds into business accounts
I literally go to work and sit around all day. It's a blessing and a curse. I've listened to quite a few audio books though lol
Where is your 20 cent iced coffee???
Nice Video. As always. I appreciate your work.
Money printer go brrr
Please help me, I am a Bangladeshi, I have lost a lot of my business for the global coronary epidemic, and many people in my area are not able to eat because they have no money where they can get food so I ask you for some money help from the mercy of God, the money you give to the poor to survive. I will buy food for you, please be on the other side, please do whatever you can to make money. Please
Sohel.store07@gmail
Please help me sir, Iam Bangladeshi, sohel.store07@gmail
DUTCH-BANGLA BANK LIMITED
AGENT BANKING OUTLET
Baroghori Bazar, chapainawabganj
A/c = MD SOHEL RANA
A/c = 7017018568170
mobail bank account Bkash 01785238218
Ahhhhhhhhhhh!!!! I got my stimulus money today!!!!! I still can’t believe I got free money!!!
Can't believe these loans AKA HEIST are forgivable. Why not just add that money to our bank accounts, instead of small business owners, who on average are doing better than individuals who do not own their own business. Ugh. Opt out. Buy Bitcoin.
Nice job, Graham!
Shut down Wells Fargo.
Great video Graham, I am very impressed by your knowledge of the ENTIRE situation… It's easy for someone to be knowledgable on what benefits their specific "pay bracket" may get. However, you really seem to grasp the full situation and have a great understanding of it. A+ content as always, you never slack and we notice.
So if you own a small business & operate conservatively maintaining small overhead & keeping the responsible cash reserves then it should be you who suffers & loses out on government relief over the guy who has been making stupid decisions & operating at thin margins?
Yeah that doesn't seem too fair to me
My concern is they’re making this seem easy and “no strings attached”. In a year from now are they going to come back auditing & making new regulations on why you have to pay interest, fees or a portion back?
Are sole proprietors eligible for the payment protection program?
I saw my favorite word Graham
Why can’t you say corona virus?
It’s working in my country though. The Netherlands
Im new here in california and I just worked for around 3 months I applied for u.i, do I get any benefits for it. because it said that I need to have a quarterly income proof.
What if you don’t have a business account with any of the lenders that offer the Paycheck Protection Program?
Received my $1200 😄
DW is great. I want to rent out half of your duplex and come for practice!
(Government does something crazy)
(Me, going to Graham’s videos to confirm)
Graham , board at home I most people so I decided to put my time towards getting my realtor license. I text my buddy for what site he used. He told me and replied he is going to be testing this year for his broker license. I went to YOUTUBE to see videos on what the main difference are between the two. I did not see a video from you. Do you have one? If not maybe make one. The videos I saw seemed like every person was doing there first video and the information was all over the place. I had a hard time wacthing them. Thanks
yo bro you should start hitting traps
really hoping Graham is filming a Tesla video right now. Pretty much the only one in the green today, 14% up in one day, I have questions lol