NEW INFORMATION: Update 4/4/2020 - Very Important for Free $10k: ruclips.net/video/Cbv9NVNJhwU/видео.html How to Apply: ruclips.net/video/6f7AtMyDoJc/видео.html All the Ways to Get your Free Money: ruclips.net/video/Wu3qSCfMbP8/видео.html
@@FxckRacism No... $10K is "forgivable". Meaning, some point down the road there will be a forgiveness program you will have to apply for. And anything not spent on the business will need to be paid back. The rest is a hand-out. Any smart small business owner would invest 100% of this into their business.
Almost Everyone i know on my socials are Barers of Bad News. Kevin, thank you for making a positive impact in these times. Bless your heart and stay safe!!!
I actually paused your video, opened the SBA site and went through the application. It seems to be even more streamlined now 6:30am 3/30/20. Awesome, Thank you!
I attended a webinar with the SBA directly yesterday. From what they mention on there (I wrote these facts down) Loan is a fixed rate at 3.6% @ 30 years You must apply for an economic disaster loan No collateral needed for loans 25k and under Your credit will be checked, and marginal credit is acceptable (650 min) As of now the loan itself is not forgiveable. You can only defer payments for one year. SBA determines how much you will qualify for They will need: PnL for your business Schedule of liabilities Debt schedule Tax return. If you have not filed taxes for 2019 yet, 2018 will be accepted You must provide proof of distress. They said to expect 4-6 weeks for a response. They are really far behind.
Can't please everyone, so you got to please yourself. ruclips.net/video/uAHR7_VZdRw/видео.html P.S. Warning, it's Ricky Nelson (RIP) and country music.
⚠️WARNING #1: If you DO NOT 1099 help and DO NOT have employees, you may not qualify for help as a small business. INSTEAD, go here for $600 per week! ruclips.net/video/ss80wt2x3zE/видео.html ⚠️WARNING #2: The EDIL Grant and Loan Program was JUST Passed -- this means the SBA MAY NOT yet have all systems go for this -- I personally recommend you "get in line" NOW to beat the rush -- but do realize it's going to take time for the SBA to catchup with this new program.⚠️
I am a 1099 contractor. I do not have any employees (or subcontractors), in my field, I would not even know how! Wait, can I hire someone to respond to my supervisors? :D Last Friday one supervisor told me to submit my notes while I was still seeing clients. When I got home I let her know that I was starting my paperwork. "Okay Let me know when they're ready." "Any more notes? " "All approved, any more? " "All right so are there still going to be more notes coming or are we done? " "Ooooookay." "All right let me know when they're all in."
I need to work from home and teleconference with my clients. I cannot do this from the house, my family is too disruptive, so I moved everything from the shed to the garage, and set up a desk in there. No heat, no insulation, and slow wifi. Yesterday it was 30° and snowing!
The IRS is now an authorized representative of Mephistopheles? Intriguing. Is this why they solely use the least convenient method of communication possible, the US Mail?
OF COURSE!! you will pay taxes(self employment taxes) on $10000 when you include it as income less expenses.. depend on have they qualify the $10000 in the tax laws...IRS decides how they want to quality it how you use it.. example : pay payroll, give to charities(possibly make masks for Hospital staffing or others), healthcare insurance payments, etc giving you an idea...
Cristian Eiden No he is saying if you don't need the money, don't go for it. Also student loans were never forgivable. They were *deferrable* .Which, most students did/are doing.
His words are confusing me. He says free, he says grant, he says loan, and he says interest. To me free and grant means you don't pay back. So, what is it? I don't think government are giving away money for free.
Didn't realized I had not subscribed, your videos kept popping anyways lol. Your content is entertaining as well as it is extremely valuable. Keep up the honest good work. Thank you.!
Butteryfly Cutie Read the fine print. This is not a grant. The Government will be broke if they gave all of this money away. Think about it. (If you had so much money in the bank and you gave it away you would be broke )You will not do that and The Government will not do it either.
There are 2 totally difference loans: 1) EIDL by SBA and 2) Paycheck protection program under Section 7(a) EIDL - check SBA website for details of paperwork; max $2M, but NO forgiveness, $10k in advance to be used in certain categories, you'll get a call so that the loan officer determines loan amount based on details of application. Guys, this is not for people borrowing 20k - many small businesses would request anywhere from $0.5M to 2M to maintain their business for the coming 12-18 months due to COVID-19. PPP under section 7(a) - apply directly via bank lender backed by SBA, max loan amount = 2.5 x monthly payrolls of all employees making under 100k salary, YES you must apply for certain categories to be forgiven with proper strict documentation requested by the bank (the bank has 60 days to review and make that decision). This loan helps to get the employees hired and stayed employed, but it will probably be dried out within 2 months, if you cannot decrease the overhead. People running a real small business know what I am talking about. You can try applying for EIDL and maybe get that 10k, but I am not sure about the ramification if your loan is approved for say 50k. That money is a loan at 3.75% over up to 30 years. No forgiveness [unlike PPP under section 7(a)]. So, congratulations, you just got another mortgage to pay unless you really need that money to keep the business running. And most likely, you will be asked to provide documentation of how your 10k was spent in your business.
I would agree that the free money isn't a great idea. It seems to me, though, that in light of a govt mandated shutdown of privately held businesses in a capatalistic economy, on some level they have a moral obligation make those businesses whole. "Free money", tax holidays, loan programs, etc. are some of the ideas I've heard. Otherwise, there will be no place for people to go back to work to. Complex subject with lots facets to consider.
If you have a 401k be careful with taking a hardship loan. They are waving the early withdraw fee which is (10%), but you still have to pay other taxes on it.
DON'T EVEN TOUCH YOUR 401K. Eat beans for a month or two. Sleep in a cardboard box. Give hand jobs down at the railroad tracks. Just do not cash in your future. Don't do it.
Great coverage of the stimulus law (now signed into law by the President). The best coverage on RUclips I have seen so far that actually goes into the text of the law. I just spent 3 hours today reading it and admittedly this is one section that I glossed over. Great work again, Kevin! (I have been following your channel since 2-3K subs, btw).
Hey Kevin, Just Wanted to Give you a heads up - They changed the application and made it much easier to fill out. No more various forms needed. All done through an online app!
The loan and the grant have nothing to do with each other. Apply for the loan, automatically qualifies you for the grant. Regardless of whether the SBA approves you or not, the grant will be provided to you.
"If the business uses the loan funds for the approved purposes and maintains the average size of its full-time workforce based on when it received the loan, the company will only need to pay back the interest accrued." Is it free 100%? I read online we'd have to pay back the INTERESTED ACCRUED if the business uses the LOAN funds for approved purposes.
I just subscribed to your channel as a thank you. I was struggling to find out where to apply for the grant, even google it and could not find any help. You were on target and the right time. Thank you.
@@Mike2digital - You download it and fill it out. Then, you need to get copies for your tax return for the previous 1 - 2 years. You, also need to fill out a tax release authorization form for your business. Once you have all the documents listed on the application, you upload the documents to the website.
**UPDATE: For anyone following the link to the SBA website...it's been significantly updated since this video was published. I followed the link in the description and it took me to a different page, but the concept is still the same. In fact it's actually much easier now and I applied in like 5 minutes. It said it would take 2 hours but I think that's if they send you additional requests for information. My guess is since the launch of this video they've gotten an huge influx of new applicants lol. But yeah! Much easier now, I just applied and I'm hoping I get approved for my business.
PeculiarImage Look for a button on the site that says apply. It should be in big red letters. It’s also on a banner on the top of the website now. Look for the Economic Injury Disaster Loan. Anything that says that, click on it
4 minutes my ass. As a sole proprietor, after a hour and a half I still had hours of information to input. Thank you for the information. For a real estate professional road blocks are vast throughout the process. On a brighter note, please keep all of your great information coming 😀
I had started a Notary Public/Loan signing side hustle 2 months ago. It went through the roof this month because of people refinancing and the virus making people doing Power of Attorney and Refinance loan at home! 185$ for 30 minutes of work people!
You are really taking a risk if think this is forgiven, at some point you will have to pay back something. Even grants aren’t a protected agreement not to pay back in many cases.
Appreciate your video, so this is not an attack but a correction. $10B divided by $10k is 1M grants (not 100k grants like you stated in 3:00). Anyways, keep up the good work, you're awesome and appreciated
Since money is fungible. (I didn’t spend “that money” on the cruise, but this other money I had.) how can they decide that you spent the loan/grant money on legit expenses?
By requiring you to show receipts for what you actually bought or spent money on to help your business. That is how. If you cannot produce something showing you used the money for your business then they don't have to prove anything else really. A person with a legitimate business use for the money would be spending to help it survive and there would be a easy paper trail to follow.
That's EXACTLY what they're doing. The globalists are crashing the economy so they can force "global currency" aka - New World Order. This is very bad.
JAH MUZIK No, you need to study history. Where ever there is communism there is financial collapse. Look at Germany. Call it what you want, Marxism, Bolshevism, Communism, they crash the family, morals, finance then food (ala Holodomor). We all know what happens next. Pissed Austrians sport funny facial hair. The rest is history.
@@japonicaren That is true, wherever there are corrupt people, you see failure, Thats the real problem, Balance and Good People, Thats all it takes, But you see people are weak..........
I have to say Kevin, your video inspired me to get off my ass tonight and get that paperwork in. I was looking at it for 2 days and did nothing. Thanks man! Great video!
It is NOT forgivable. This is a loan. On SBA.gov under COVID-19 disaster assistance's page (www.sba.gov/disaster-assistance/coronavirus-covid-19): "These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%."
Exactly - this video is reckless. The forgivable loans are not currently available yet, but I imagine they will be on Monday ASAP with major banks handling them - Paycheck Protection Program is the forgivable loans. NOT SBA.
@@LTV999 It's passed already, you'll want to contact your bank on how to get the loan. Here's an ACCURATE article - www.forbes.com/sites/peterjreilly/2020/03/27/paycheck-protection-program-looks-like-a-very-sweet-deal/#31d8d9e81c60
He obviously jumped ahead about applying because this wasn't even available to apply for until the president mentioned it today, 4/3.But if you did make sure you get an application # and make sure it was for the Covid-19 Economic Injury Disaster Loan Application
exactly, its for people who have to pay people... W2 folks will get paid but employers who 1099 out will have enough to pay people that dont file w2.. this clown fk thinks its just raining 10k..
Matt Snyder Real Estate you can only use that money for work related stuff. I can say I still do door to door use the money for car maintenance, but I wouldn’t be able to spend the entire 10k on work related stuff, so it’d just sit there
@@a.d8001 thats tricky, i doubt it i dont see how you can get unemployment anyway with or without the grant help, goes via ex employer depends on your proprietorship set up
Taylor N would be nice eh! There’s always two sides to every story I guess, they’ll find a way to generate additional income to replace any money given out in grants
@Taylor N i am sorry you dont believe it works. It does i like FDR politics where you highly regulate wall street and the big banks to no do certian investments that are a massive risk. Us that money, from the penailities, fines, and regulation on a incomes tax cap did work. We as a nation started to go back to crony captalism When Reagan was elected to office. After that the inequality gap exploded. I believe in a highly regulated capitalistic system, with soclist programs to redistribute the wealth. Half captalism and half socilism.
Does this mean that if you get denied on the loan you don’t have to pay it back when you get the $10k ??? For the record I would still use it on a passive income business .
Mr Home Loans hard to say. I think your best bet is to write some checks to a vendor, or associate (break them off some change for their participation), and then just claim it as a business liability.
Grants are free money from the government. They don't need to be repaid. It's really nothing new. They've been around a while but you need to know how to write to get them.
Here’s the catch....You must take the first flight to China ✈️....take a taxi to ground zero to the infested market where the coronavirus started and take a bite out of patient Zero 🦇 . On your way back, visit every Italian hospital..last have an 800 credit score!
HEY GUYS UPDATE UPDATE: Make sure you go back to the SBA site and reapply for the SBA loan/10k stimulus. The application process has changed yet again (third time now)! This new application is completed in 5 minutes or less. It will ask for your: Corporation type Number of employees Gross rev up to January 31, 2020 Cost of goods sold up to January 31, 2020 NFP figures (if applicable) Legal questions EIN You will need to fill out your personal credentials It will ask if you want to be *considered for the 10k stimulus* Enter your business checking and routing numbers A confirmation page with your application number will be displayed (print it) Previous applications are still valid, but do not rest on your laurels. Government is incompetent, and consider it a day one application every single time. Make a habit of checking the SBA website regularly. Any changes, follow through. Good luck.
NEW INFORMATION: Update 4/4/2020 - Very Important for Free $10k: ruclips.net/video/Cbv9NVNJhwU/видео.html
How to Apply: ruclips.net/video/6f7AtMyDoJc/видео.html
All the Ways to Get your Free Money: ruclips.net/video/Wu3qSCfMbP8/видео.html
is uber driver included ?
If I get $10k, I will purchase every single one of your courses!
He pinned you to hold you accountable lol.
Lolz I wish i lived in america arround now!
Same
www.washingtonpost.com/business/2020/03/26/small-business-administration-loan-faq/
Q: What will the interest rate be?
Interest rates on these loans are 3.75 percent for small businesses and 2.75 percent for nonprofits.
UPDATED INFO HERE ruclips.net/video/F9G5Uts0ZCk/видео.html AND HERE ruclips.net/video/6f7AtMyDoJc/видео.html
I'm just glad that there will be absolutely no way for there to be any fraud or abuse in this program. Thank you Gov't!
🤷♂️ The game was designed to be played.
@@FxckRacism So what? Then, just pay back what you don't spend on business expenses. Wtp?
@@FxckRacism No... $10K is "forgivable". Meaning, some point down the road there will be a forgiveness program you will have to apply for. And anything not spent on the business will need to be paid back. The rest is a hand-out. Any smart small business owner would invest 100% of this into their business.
Is Robinhood giving out free money again?
😂
Its the Federal Reserve giving out money now.
Only if you're a customer of Robinhood!
Even better. It’s the government this time lol
Robinhood just gave me the money for the accident btw.
Kevin’s enthusiasm is contagious. He is a much needed business advisor during these turbulent times.
Almost Everyone i know on my socials are Barers of Bad News. Kevin, thank you for making a positive impact in these times.
Bless your heart and stay safe!!!
IREK trades my funds and im up $34k already this year...
@@barrygerrald5743 how can he be reached?
@@barrygerrald5743 irek piekerski.. he trades for me as well .. im up 22k already this year...
@@garretttodd2182 via. 1 (6 4 6) 5 6 4 0 2 1 4
@@barrygerrald5743 irek piekerski is a great trader really...
I actually paused your video, opened the SBA site and went through the application. It seems to be even more streamlined now 6:30am 3/30/20. Awesome, Thank you!
I attended a webinar with the SBA directly yesterday. From what they mention on there (I wrote these facts down)
Loan is a fixed rate at 3.6% @ 30 years
You must apply for an economic disaster loan
No collateral needed for loans 25k and under
Your credit will be checked, and marginal credit is acceptable (650 min)
As of now the loan itself is not forgiveable. You can only defer payments for one year.
SBA determines how much you will qualify for
They will need:
PnL for your business
Schedule of liabilities
Debt schedule
Tax return. If you have not filed taxes for 2019 yet, 2018 will be accepted
You must provide proof of distress.
They said to expect 4-6 weeks for a response. They are really far behind.
Thank you for clarifying! 👍
will the grant apply to real estate agents?
so, no 10k?
How to prove for distress if you have work going on. Means no 10k for them ?
Jack's Son if you don’t know what PNL means this don’t apply to you
I'll take $10,000, but I don't think the government would be happy giving it to me!
Same feeling
Can't please everyone, so you got to please yourself. ruclips.net/video/uAHR7_VZdRw/видео.html P.S. Warning, it's Ricky Nelson (RIP) and country music.
@@mrconsignment great song
I'm glad I went out on my own at 18...
@@ohyeah8224 how'd you do that. I'm looking for a way out
⚠️WARNING #1: If you DO NOT 1099 help and DO NOT have employees, you may not qualify for help as a small business. INSTEAD, go here for $600 per week! ruclips.net/video/ss80wt2x3zE/видео.html ⚠️WARNING #2:
The EDIL Grant and Loan Program was JUST Passed -- this means the SBA MAY NOT yet have all systems go for this -- I personally recommend you "get in line" NOW to beat the rush -- but do realize it's going to take time for the SBA to catchup with this new program.⚠️
But if they deny you wouldnt you still get the 10k?
Meet Kevin I can’t find the link. Maybe I’m blind? Haha can you lost it here? I just subscribed!
Thank you!
I am a 1099 contractor. I do not have any employees (or subcontractors), in my field, I would not even know how!
Wait, can I hire someone to respond to my supervisors? :D
Last Friday one supervisor told me to submit my notes while I was still seeing clients. When I got home I let her know that I was starting my paperwork.
"Okay Let me know when they're ready."
"Any more notes?
"
"All approved, any more?
"
"All right so are there still going to be more notes coming or are we done?
"
"Ooooookay."
"All right let me know when they're all in."
I need to work from home and teleconference with my clients. I cannot do this from the house, my family is too disruptive, so I moved everything from the shed to the garage, and set up a desk in there.
No heat, no insulation, and slow wifi. Yesterday it was 30° and snowing!
Thank YOU, I am a single member llc and just applied in 2 minutes quick fast. Crossing fingers god bless you all
The devil never gives anything away for free . There's ALWAYS a price to pay .
The IRS is now an authorized representative of Mephistopheles? Intriguing. Is this why they solely use the least convenient method of communication possible, the US Mail?
@@eriks.larson1310 What's, Mephistopeles ?
OF COURSE!! you will pay taxes(self employment taxes) on $10000 when you include it as income less expenses.. depend on have they qualify the $10000 in the tax laws...IRS decides how they want to quality it how you use it.. example : pay payroll, give to charities(possibly make masks for Hospital staffing or others), healthcare insurance payments, etc giving you an idea...
Thanks Kevin we applied and got it as a independent contractor
The main question is:
How much toilet paper I can get for 10 grand?
An unopened pack of 6
Given the current demand probably about 13 rolls
Asking the real questions
A shit load
palillo2006 yes sir !
You and my 74 year old Mom who never had a job because my Dad always provided are on the same page about economics, work ethics, and life priorities.
It says *Sole Proprietors should complete form 5C, so don't do it on Form 5, use the form below it.
Way more informative than other guys. Definitely subscribed. As a lyft driver we are hurt as we slowly lockdown state by state
Best channel on RUclips.
Hey Kevin! I just got my advance!!! Ty sooo much! Failing comic book studio and definitely needed that. You’re the man!
Student loans are supposed to be "forgivable" too and we all see how that went.... Stay far away if you don't need to keep your business from closing.
💯
you mean stay far away if you Do need to keep your business from closing, lol
:P
Cristian Eiden No he is saying if you don't need the money, don't go for it.
Also student loans were never forgivable. They were *deferrable* .Which, most students did/are doing.
Gabriel Velazquez no, there is a forgiveness program. He means exactly what he said. It’s just extraordinarily rare to get that approved.
pure value in this video. happy to subscribe
His words are confusing me. He says free, he says grant, he says loan, and he says interest. To me free and grant means you don't pay back. So, what is it? I don't think government are giving away money for free.
It’s not free. Us the tax payers are paying by inflating the dollar. Enjoy paying more to get less.
Didn't realized I had not subscribed, your videos kept popping anyways lol. Your content is entertaining as well as it is extremely valuable. Keep up the honest good work. Thank you.!
I am committed to self-development and thriving.
I'm so glad I subbed. Nothing but good info 👍💰
Oh boy, this is going to be a long line. Just the Realtors alone are going to clog the system.
Fuck those parasites
Goddam parasites
im saying lmao smh, I hope I get I really need it for upkeep of rent for the items I sale.
Wow, a lot of disdain for Realtors on a RUclips channel of guy who is a Realtor.
So true.
Very useful information
Thank you Kevin
If you say 'free' enough times, it might become reality
Just got approved for 147k !
Thank you Kevin
This sounds almost too good to be true. But if this really works, this video is about to blow up!
@beatle pete 100k+ views in 24 hrs, lol I applied to see if its true
@beatle pete yea pushing links, but hopefully I get a surprise
Quite possibly one of the best videos ever. I immediately subscribed to your channel and hit the bell because of it.
Stop telling people this, There No such thing as “Free money from the government”. Believe me, You will have to pay it back.
Nope, he’s right. Not sure why he’s acting like such a huckster, but it’s true.
Grant is no payback it's not a loan
Butteryfly Cutie Read the fine print. This is not a grant. The Government will be broke if they gave all of this money away. Think about it. (If you had so much money in the bank and you gave it away you would be broke )You will not do that and The Government will not do it either.
@@butteryflycutie254 its only a grant if you have employees and keep paying them with the money all the leaches are coming out WTF
Thank you for this info! You were spot on!! Most valuable (literally) video I’ve ever watched on RUclips 😉
Buy more Tsla and vote Kevin for President!
James Costello lol people don’t need a Tesla when they lost a job and can’t pay mortgage
There are 2 totally difference loans: 1) EIDL by SBA and 2) Paycheck protection program under Section 7(a)
EIDL - check SBA website for details of paperwork; max $2M, but NO forgiveness, $10k in advance to be used in certain categories, you'll get a call so that the loan officer determines loan amount based on details of application. Guys, this is not for people borrowing 20k - many small businesses would request anywhere from $0.5M to 2M to maintain their business for the coming 12-18 months due to COVID-19.
PPP under section 7(a) - apply directly via bank lender backed by SBA, max loan amount = 2.5 x monthly payrolls of all employees making under 100k salary, YES you must apply for certain categories to be forgiven with proper strict documentation requested by the bank (the bank has 60 days to review and make that decision). This loan helps to get the employees hired and stayed employed, but it will probably be dried out within 2 months, if you cannot decrease the overhead. People running a real small business know what I am talking about.
You can try applying for EIDL and maybe get that 10k, but I am not sure about the ramification if your loan is approved for say 50k. That money is a loan at 3.75% over up to 30 years. No forgiveness [unlike PPP under section 7(a)]. So, congratulations, you just got another mortgage to pay unless you really need that money to keep the business running. And most likely, you will be asked to provide documentation of how your 10k was spent in your business.
Thank you for providing the truth about this! I just hope others will listen before it's too late.
Btw free money is a bad thing. Reference: please refer to Venezuela 🇻🇪
Free money does not instantly mean Venezuela.
What would do you want me to do not take free money?
Agreed
Nope Try... brutal US sanctions.
I would agree that the free money isn't a great idea. It seems to me, though, that in light of a govt mandated shutdown of privately held businesses in a capatalistic economy, on some level they have a moral obligation make those businesses whole. "Free money", tax holidays, loan programs, etc. are some of the ideas I've heard. Otherwise, there will be no place for people to go back to work to. Complex subject with lots facets to consider.
I just filled it out! Thanks for the info!
If you have a 401k be careful with taking a hardship loan. They are waving the early withdraw fee which is (10%), but you still have to pay other taxes on it.
DON'T EVEN TOUCH YOUR 401K. Eat beans for a month or two. Sleep in a cardboard box. Give hand jobs down at the railroad tracks. Just do not cash in your future. Don't do it.
@@jimdoire2177 even if I need it as an emergency for a daughter with kidney disease?
Great coverage of the stimulus law (now signed into law by the President). The best coverage on RUclips I have seen so far that actually goes into the text of the law. I just spent 3 hours today reading it and admittedly this is one section that I glossed over. Great work again, Kevin! (I have been following your channel since 2-3K subs, btw).
There is nothing for free, remember that
There actually is stuff for free you just have to find a way around it haha
That's right . This fre free money is at the expense of dollar . We are leading towards dollar collapse folks . Make USA into Venezuela
@@R3cklessExo The point is, SOMEONE is paying for it.
Wish more people actually knew this instead of just cheering for it.
@@R3cklessExo We will be paying taxes on it regardless. Do you want part of it or not?
Thanks for the info!! Getting started now
it's never free.. we will pay for this, or our children.. grandchildren.. and so on.. hyperinflation is in our future..
@@manictiger You are correct... somehow none of my friends understand this concept or do not want to know the truth. They'll understand soon enough.
Exactly.
@@manictiger fun fact: Trump ended the fed today
Hey Kevin, Just Wanted to Give you a heads up - They changed the application and made it much easier to fill out. No more various forms needed. All done through an online app!
Never closed a faze rug video that fast
Zahid Angeles lmao that kid is so cringe
Who?
You should have more subs!
I went to the website and it seems to be a "low interest loan" instead of a "grant". That's a huge difference.
The loan and the grant have nothing to do with each other. Apply for the loan, automatically qualifies you for the grant.
Regardless of whether the SBA approves you or not, the grant will be provided to you.
Gabriel Velazquez I don't think it'll be worth having a loan under your name just to have a small chance at winning a grant
You don't have to accept the loan anyway
@@jollieone Whats the point of a credit check and all that shit just to not get a grant and not accept a loan then?
@@iMakeDatBedRock Don't do it then it really doesn't seem like you need it obviously and you make the chances higher for me to qualify.
This guy has been killing it!
Thanks, Kevin!
"If the business uses the loan funds for the approved purposes and maintains the average size of its full-time workforce based on when it received the loan, the company will only need to pay back the interest accrued."
Is it free 100%? I read online we'd have to pay back the INTERESTED ACCRUED if the business uses the LOAN funds for approved purposes.
I have already uploaded and submitted mine. I just discovered you about 2 weeks ago. Thanks for all that you do here. I greatly appreciate it! Joe
This is HUGE 🐘! Everyone get your apps ready 😁
Where do you send application?
@@tooeazeful disasterloan.sba.gov/ela/
@@ApplicoInc thanks i uploaded on website too
They changed the site. I did mine last week. It was easier and was all 'point and click' , was accepted and just waiting on review.
i predict there will be rampant fraud with this forgivable loan. People will be bullshitting their expenses, just to try to get shit forgiven.
kk P basically how some countries are grown
I just subscribed to your channel as a thank you. I was struggling to find out where to apply for the grant, even google it and could not find any help. You were on target and the right time. Thank you.
Free cheese on every mouse trap.
Wes C “Once we out the RFD chip in your wrist you get your $10k”
Free beer......tomorrow🐗
Applied! Thank you @Meet Kevin
Mike Boardley how do you submit the application?
@@Mike2digital - You download it and fill it out. Then, you need to get copies for your tax return for the previous 1 - 2 years. You, also need to fill out a tax release authorization form for your business. Once you have all the documents listed on the application, you upload the documents to the website.
**UPDATE: For anyone following the link to the SBA website...it's been significantly updated since this video was published. I followed the link in the description and it took me to a different page, but the concept is still the same. In fact it's actually much easier now and I applied in like 5 minutes. It said it would take 2 hours but I think that's if they send you additional requests for information. My guess is since the launch of this video they've gotten an huge influx of new applicants lol. But yeah! Much easier now, I just applied and I'm hoping I get approved for my business.
DJ Sunkisst where do you submit your application?
PeculiarImage Look for a button on the site that says apply. It should be in big red letters. It’s also on a banner on the top of the website now. Look for the Economic Injury Disaster Loan. Anything that says that, click on it
@@oldaccount67543 Did you see a space for how much to request as the loan/grant? I did not.
Boris Sharapan Fabrikant, Esq. i didn’t. they’ll probably call you about it
www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources
You talk about inflation and here you are applying for this? Way to go
It's greed. He doesn't seem very distressed to me and will still take the $$$$$.
It’s only “eight weeks of loan forgiveness” in very specific categories.
Wrong. You’re looking at the PPP specifications. Not the same thing as EIDL
Great Info Kevin...
4 minutes my ass. As a sole proprietor, after a hour and a half I still had hours of information to input. Thank you for the information. For a real estate professional road blocks are vast throughout the process. On a brighter note, please keep all of your great information coming 😀
Kevin thank you for all the great detail and information. It is truly appreciated and you have great content
Great info! I shared with friend and family.
Thanks for sharing bro. Love your course plug , comedy. Get your money G!🤑😂😂😂
$10B divided by $10k is 1 million grants, not 100,000. 1 million people can get it
Thanks for the info Kevin.....I'm on it 💪💪💪
Kevin, if you are a Sole Proprietor you have to fill out another form: Form 5C. I just filled mine out :)
Thanks for the info!!
I had started a Notary Public/Loan signing side hustle 2 months ago. It went through the roof this month because of people refinancing and the virus making people doing Power of Attorney and Refinance loan at home! 185$ for 30 minutes of work people!
thinking of do this too but unsure about the multipule contacts with people?
@@cetriyasArtnComicsChannel Just did another one today. That's how you differentiate. Have gloves, keep distance, while still have empathy to people.
Your videos are so valuable
You are really taking a risk if think this is forgiven, at some point you will have to pay back something. Even grants aren’t a protected agreement not to pay back in many cases.
Just applied. If I get it I'll grab a course.
You can't use it for that. Learn what you're applying for.
Too slow little fella?
This guy looks like a mix of Ryan Reynolds and Jake Gyllenhaal .
Appreciate your video, so this is not an attack but a correction. $10B divided by $10k is 1M grants (not 100k grants like you stated in 3:00). Anyways, keep up the good work, you're awesome and appreciated
He said when Grant money is gone, it's gone. Are you referring to Grant Cardone's money? lol
🤣🤣🤣
My wife filled this out the first day it came out on the site.
Since money is fungible. (I didn’t spend “that money” on the cruise, but this other money I had.) how can they decide that you spent the loan/grant money on legit expenses?
I want to know this also!
Good question!
Someone please help answer this
By requiring you to show receipts for what you actually bought or spent money on to help your business. That is how. If you cannot produce something showing you used the money for your business then they don't have to prove anything else really. A person with a legitimate business use for the money would be spending to help it survive and there would be a easy paper trail to follow.
xex2kok can I use the money to buy a new computer for my business? The one I now have is about 6 years old already.
You are killing it Kevin.... This disaster is your golden ticket
Wow. This is starting to look a lot like Rome's late monetary policy. You know, before the collapse.
That's EXACTLY what they're doing. The globalists are crashing the economy so they can force "global currency" aka - New World Order. This is very bad.
I liked your video and always like it 😊
It's not free you're going to pay it back with taxes higher taxes!
Aka communism
Devaluation of your money via inflation.
JAH MUZIK
No, you need to study history.
Where ever there is communism there is financial collapse. Look at Germany.
Call it what you want, Marxism, Bolshevism, Communism, they crash the family, morals, finance then food (ala Holodomor).
We all know what happens next. Pissed Austrians sport funny facial hair. The rest is history.
budo r slap urself
@@japonicaren That is true, wherever there are corrupt people, you see failure, Thats the real problem, Balance and Good People, Thats all it takes, But you see people are weak..........
I have to say Kevin, your video inspired me to get off my ass tonight and get that paperwork in. I was looking at it for 2 days and did nothing. Thanks man! Great video!
It is NOT forgivable. This is a loan. On SBA.gov under COVID-19 disaster assistance's page (www.sba.gov/disaster-assistance/coronavirus-covid-19): "These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%."
Exactly - this video is reckless. The forgivable loans are not currently available yet, but I imagine they will be on Monday ASAP with major banks handling them - Paycheck Protection Program is the forgivable loans. NOT SBA.
@@tonygonzalezofficial when is the paycheck protection program going to pass?
@@LTV999 It's passed already, you'll want to contact your bank on how to get the loan. Here's an ACCURATE article - www.forbes.com/sites/peterjreilly/2020/03/27/paycheck-protection-program-looks-like-a-very-sweet-deal/#31d8d9e81c60
Thank You Kevin!! :))
as an uber and doordash driver i file 1099s every year. am i qualified for this?
He obviously jumped ahead about applying because this wasn't even available to apply for until the president mentioned it today, 4/3.But if you did make sure you get an application # and make sure it was for the Covid-19 Economic Injury Disaster Loan Application
“If it sounds too good to be true...”. Don’t kid yourself, they aren’t just gonna you $10,000 for free to pay yourself.
exactly, its for people who have to pay people... W2 folks will get paid but employers who 1099 out will have enough to pay people that dont file w2.. this clown fk thinks its just raining 10k..
Matt Snyder Real Estate you can only use that money for work related stuff. I can say I still do door to door use the money for car maintenance, but I wouldn’t be able to spend the entire 10k on work related stuff, so it’d just sit there
@@a.d8001 thats tricky, i doubt it i dont see how you can get unemployment anyway with or without the grant help, goes via ex employer depends on your proprietorship set up
@@a.d8001 oh wow, ya seems to be changing every 8 hours ha good luck to you and your family
@@FxckRacism that didn't make a bit of sense but thanks
Thanks Kevin your Awesome and give out good information too !
Aaaaand its gone...
Legit. Subbed!
Did somebody say FREE MONEY?! :)))
Taylor N would be nice eh! There’s always two sides to every story I guess, they’ll find a way to generate additional income to replace any money given out in grants
Socialism works!!!!!
@Taylor N FDR did this during the 1930s depression. It worked.
@Taylor N i am sorry you dont believe it works. It does i like FDR politics where you highly regulate wall street and the big banks to no do certian investments that are a massive risk. Us that money, from the penailities, fines, and regulation on a incomes tax cap did work. We as a nation started to go back to crony captalism When Reagan was elected to office. After that the inequality gap exploded.
I believe in a highly regulated capitalistic system, with soclist programs to redistribute the wealth.
Half captalism and half socilism.
Taylor N they aren’t going to raise taxes they’re just going to keep printing money. This ships goin down Venazula style bra. Lol
Wow! THANK YOU! I can't get this money, but I know people who can. And really need it.
Does this mean that if you get denied on the loan you don’t have to pay it back when you get the $10k ???
For the record I would still use it on a passive income business .
Wow thanks kevin this might be the best time to get into real estate!
Can we spend the loan on “advertising” ? Because if so, it’s free money in our pocket!
GBT what if I never filed 1099 yet but I have had an employee since February
GBT sounds like you can just charge anything to a business card and then use these funds to pay those “obligations”, no?
Mr Home Loans hard to say. I think your best bet is to write some checks to a vendor, or associate (break them off some change for their participation), and then just claim it as a business liability.
Grants are free money from the government. They don't need to be repaid. It's really nothing new. They've been around a while but you need to know how to write to get them.
nothing is free in america. you will pay this back plus interest one way or another. wait until next year
Don't take advice from some one who can't do simple math (3: 02 ) 10,000,000,000.00/ 10,000 is not 100,000
This was very good!
Here’s the catch....You must take the first flight to China ✈️....take a taxi to ground zero to the infested market where the coronavirus started and take a bite out of patient Zero 🦇 . On your way back, visit every Italian hospital..last have an 800 credit score!
LOL!
Don’t forget you have to take a bite of a pangolin too
Just Saying
I was willing to do all mentioned til you got to 800 credit score. I just can’t get there.
My credit score is 747. I will say it pays homage to the jumbo jet, and get a pass on the travels.
That is fucking hillarious!
HEY GUYS UPDATE UPDATE: Make sure you go back to the SBA site and reapply for the SBA loan/10k stimulus. The application process has changed yet again (third time now)! This new application is completed in 5 minutes or less. It will ask for your:
Corporation type
Number of employees
Gross rev up to January 31, 2020
Cost of goods sold up to January 31, 2020
NFP figures (if applicable)
Legal questions
EIN
You will need to fill out your personal credentials
It will ask if you want to be *considered for the 10k stimulus*
Enter your business checking and routing numbers
A confirmation page with your application number will be displayed (print it)
Previous applications are still valid, but do not rest on your laurels. Government is incompetent, and consider it a day one application every single time. Make a habit of checking the SBA website regularly. Any changes, follow through. Good luck.
Don’t do this. This will haunt you back in the future! Nothing is free without them benefiting back. Don’t be a sheep!