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Thread: More Info on Stimulus and the SBA "loans" and who can get them

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    Iridium Dachsie's Avatar
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    More Info on Stimulus and the SBA "loans" and who can get them

    https://covid19relief.sba.gov/#/

    That is the address to fill out a form to apply for a SBA loan that is part of the CARES Act, aka "the stimulus bill" which is not settled legislatively yet and there will be additional bills as part of the entire stimulus package.

    This is the way I understand this and do not take any advice from me but search out and get solid answers to your questions from reliable sources on your own.

    If you already operating any small business that is either right now

    an S corporation

    a C corporation

    a Limited Liability Corporation LLC

    or a

    sole proprietorship (I believe it is not necessary to have a DBA (Doing Business As) name for your business, as you can use just your own name. Again, check the facts on this. Do not take any of this from me. Verify it.

    you can fill out that SBA form right now, and it takes almost no time to do that - very short form.

    And here is the kicker, you may actually get a GRANT from the SBA, that is, the SBA may decide to give you $10,000 and it is not a LOAN at all, just a grant.

    If you are already operating as one of those four types, you should file this form and apply because you have nothing to lose and a very low interest $10,000 loan with liberal servicing rules and payback time or you may even get a free gift, a grant, of $10,000.

    You will need to fill out this form and show a copy of a tax return where you identify on that tax return the name and type of your business.

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    Iridium Dachsie's Avatar
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    Re: More Info on Stimulus and the SBA "loans" and who can get them

    Good clear explanation regarding all the government stimulus checks and loans and where it stands as of April 9, 2020 as far as when, if ever, to expect your check or direct deposit. There are 4 or 5 separate parts of the legislation and how it will be implemented.

    8 minute video





    Stimulus Check and Stimulus Package Update Thursday April 9th
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    •Apr 9, 2020
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    ClearValue Tax
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    This is a Stimulus Package and Stimulus Check update on April 9nd, 2020. We want to keep you up to date with the developments about news regarding the stimulus package and stimulus checks from the Trump Administration. We're going to be discussing the stimulus loans, the stimulus unemployment, and stimulus tax credits.

    We also cover the forgivable loan that the stimulus bill brings us. This is the Paycheck Protection Program, which is also known as the PPP. There's the Economic Disaster Loan, which is known as the EDL loan. These are in conjunction with the Small Business Administration, which is known as the SBA.

    You can apply for the EDL SBA forgivable loan here: https://covid19relief.sba.gov/#/

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