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
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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.

By Stock Chat

where the coffee is hot and so is the chat

31 thoughts on “New $250 billion stimulus – more free money announced”
  1. Avataaar/Circle Created with python_avatars Sherie Lapeña says:

    Do a quick google search for ECOM BAZZOID someone posted your courses Graham

  2. Avataaar/Circle Created with python_avatars bibash rijal says:

    Do a quick google search for ECOM BAZZOID someone posted your courses Graham

  3. Avataaar/Circle Created with python_avatars AW says:

    Hulk smash Button!!

  4. Avataaar/Circle Created with python_avatars Saul Goodman says:

    I wouldn't call shake shake or the Lakers, a "small business".

  5. Avataaar/Circle Created with python_avatars aaron pasillas says:

    Is it a good idea to take out a personal loan at a time like this?

  6. Avataaar/Circle Created with python_avatars Chad Cane says:

    The government should just deposit the funds into business accounts

  7. Avataaar/Circle Created with python_avatars Gail Deshawnda says:

    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

  8. Avataaar/Circle Created with python_avatars Grow Your Wealth says:

    Where is your 20 cent iced coffee???

    Nice Video. As always. I appreciate your work.

  9. Avataaar/Circle Created with python_avatars Sahaj Patel says:

    Money printer go brrr

  10. Avataaar/Circle Created with python_avatars Lina Khatun says:

    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

  11. Avataaar/Circle Created with python_avatars Lina Khatun says:

    Please help me sir, Iam Bangladeshi, sohel.store07@gmail

  12. Avataaar/Circle Created with python_avatars Lina Khatun says:

    DUTCH-BANGLA BANK LIMITED

    AGENT BANKING OUTLET
    Baroghori Bazar, chapainawabganj

    A/c = MD SOHEL RANA
    A/c = 7017018568170

    mobail bank account Bkash 01785238218

  13. Avataaar/Circle Created with python_avatars Theresa says:

    Ahhhhhhhhhhh!!!! I got my stimulus money today!!!!! I still can’t believe I got free money!!!

  14. Avataaar/Circle Created with python_avatars ubeenfranked says:

    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.

  15. Avataaar/Circle Created with python_avatars Paul at Home says:

    Nice job, Graham!

  16. Avataaar/Circle Created with python_avatars Jody Mitoma says:

    Shut down Wells Fargo.

  17. Avataaar/Circle Created with python_avatars ItsJSansi says:

    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.

  18. Avataaar/Circle Created with python_avatars Garrett Zucker says:

    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

  19. Avataaar/Circle Created with python_avatars Medicare Tutor says:

    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?

  20. Avataaar/Circle Created with python_avatars Shayne Green says:

    Are sole proprietors eligible for the payment protection program?

  21. Avataaar/Circle Created with python_avatars Jason Rosas says:

    I saw my favorite word Graham

  22. Avataaar/Circle Created with python_avatars luz areizaga says:

    Why can’t you say corona virus?

  23. Avataaar/Circle Created with python_avatars Jelle says:

    It’s working in my country though. The Netherlands

  24. Avataaar/Circle Created with python_avatars memento mori says:

    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.

  25. Avataaar/Circle Created with python_avatars Olga Rubi says:

    What if you don’t have a business account with any of the lenders that offer the Paycheck Protection Program?

  26. Avataaar/Circle Created with python_avatars Jake Gentry says:

    Received my $1200 😄

  27. Avataaar/Circle Created with python_avatars Tomasz Pawlikowski says:

    DW is great. I want to rent out half of your duplex and come for practice!

  28. Avataaar/Circle Created with python_avatars Matt Kneece says:

    (Government does something crazy)
    (Me, going to Graham’s videos to confirm)

  29. Avataaar/Circle Created with python_avatars Kevin Reinhout says:

    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

  30. Avataaar/Circle Created with python_avatars dandman2k11 says:

    yo bro you should start hitting traps

  31. Avataaar/Circle Created with python_avatars Bianca Brateanu says:

    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

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