How to complete the Paycheck Protection Application

This video is for independent contractors, sole proprietors and the self employed who need help with the Paycheck Protection application. Many People have spoken about the Paycheck Protection Program Application but you need to see how to fill it out. In this video I go through it and show you resources on the Small Business Administration page where you can get more information.
Its very important to know that you can do all the research about the loan but the documentation that is used for approving the loan and forgiving the loan is entirely up to the SBA and your lender. Please check with them.
How does the bank figure your average monthly income for an independent contractor? If you filed your income taxes you should have a schedule C. Look at your net profit on line 31. Divide line 31 by 12 and multiply by 2.5.
SBA Paycheck Protection Program: www.sba.gov/fu...
This video is intended to be used for informational purposes only and does not constitute as legal, business, or tax advice. Please consult your attorney, business advisor, or tax advisor with respect to matters referenced in our content. Because things change pretty fast, Jenai Morehead and or Foundation Consultants assumes no liability for any actions taken in reliance upon the information contained herein.