NEW INFORMATION: Update 4/4/2020 - Very Important for Free $10k: th-cam.com/video/Cbv9NVNJhwU/w-d-xo.html How to Apply: th-cam.com/video/6f7AtMyDoJc/w-d-xo.html All the Ways to Get your Free Money: th-cam.com/video/Wu3qSCfMbP8/w-d-xo.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.
⚠️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! th-cam.com/video/ss80wt2x3zE/w-d-xo.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!
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. th-cam.com/video/uAHR7_VZdRw/w-d-xo.html P.S. Warning, it's Ricky Nelson (RIP) and country music.
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!
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...
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!!!
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.
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.
**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
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.
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.
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!
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 😀
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 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.
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!
Great coverage of the stimulus law (now signed into law by the President). The best coverage on TH-cam 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).
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!
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.
"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.
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.
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.
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 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
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.
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.
@@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.
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..........
Thank you @MeetKevin by far your the most informative TH-cam Channel I follow. I am really enjoying your courses and Livestreams. As soon as I am done with the current courses I enrolled in. I will definitely jump on your other online courses. For anyone thinking about joining any of MeetKevins online courses stop procrastinating and join now! Thanks a Million Kevin!!👌
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 .
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.
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.
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
Say if you're a video editor, would buying a video editing PC count as something that's forgivable or is it just strictly the things that you mentioned?
Kevin, I believe there might be another form to fill out if you're a sole prop. I wanted to clarify because it says on form 5 that "Sole Proprietors should complete form 5C". This way people don't select "other" on "Form 5" and then get asked to fill out form 5c a few weeks later when it might be too late to receive a grant at that point. Thanks for all the information. I greatly appreciate all the hard work you put into this channel. I just got my application completed and I also applied forbearance.
NEW INFORMATION: Update 4/4/2020 - Very Important for Free $10k: th-cam.com/video/Cbv9NVNJhwU/w-d-xo.html
How to Apply: th-cam.com/video/6f7AtMyDoJc/w-d-xo.html
All the Ways to Get your Free Money: th-cam.com/video/Wu3qSCfMbP8/w-d-xo.html
is uber driver included ?
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.
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.
Kevin’s enthusiasm is contagious. He is a much needed business advisor during these turbulent times.
⚠️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! th-cam.com/video/ss80wt2x3zE/w-d-xo.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!
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. th-cam.com/video/uAHR7_VZdRw/w-d-xo.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
UPDATED INFO HERE th-cam.com/video/F9G5Uts0ZCk/w-d-xo.html AND HERE th-cam.com/video/6f7AtMyDoJc/w-d-xo.html
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.
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!
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...
Thank YOU, I am a single member llc and just applied in 2 minutes quick fast. Crossing fingers god bless you all
I am committed to self-development and thriving.
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.
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...
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 !
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.
Thanks Kevin we applied and got it as a independent contractor
It says *Sole Proprietors should complete form 5C, so don't do it on Form 5, use the form below it.
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.
If you say 'free' enough times, it might become reality
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 TH-cam channel of guy who is a Realtor.
So true.
**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
Hey Kevin! I just got my advance!!! Ty sooo much! Failing comic book studio and definitely needed that. You’re the man!
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.
Just got approved for 147k !
Thank you Kevin
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
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 $$$$$.
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
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!
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 😀
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 TH-cam.
My wife filled this out the first day it came out on the site.
Never closed a faze rug video that fast
Zahid Angeles lmao that kid is so cringe
Who?
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.!
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.
You are killing it Kevin.... This disaster is your golden ticket
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
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!
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
Great coverage of the stimulus law (now signed into law by the President). The best coverage on TH-cam 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).
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
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.
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
Thank you for this info! You were spot on!! Most valuable (literally) video I’ve ever watched on TH-cam 😉
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.
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.
"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.
Thanks for sharing bro. Love your course plug , comedy. Get your money G!🤑😂😂😂
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
I'm so glad I subbed. Nothing but good info 👍💰
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.
Quite possibly one of the best videos ever. I immediately subscribed to your channel and hit the bell because of it.
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?
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
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?
I just filled it out! Thanks for the info!
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.
Thanks for the info Kevin.....I'm on it 💪💪💪
Free cheese on every mouse trap.
Wes C “Once we out the RFD chip in your wrist you get your $10k”
Free beer......tomorrow🐗
This guy has been killing it!
Thanks, Kevin!
Aaaaand its gone...
pure value in this video. happy to subscribe
$10B divided by $10k is 1 million grants, not 100,000. 1 million people can get it
Thanks for the info!! Getting started now
Kevin, if you are a Sole Proprietor you have to fill out another form: Form 5C. I just filled mine out :)
Kevin thank you for all the great detail and information. It is truly appreciated and you have great content
Smashed the stonk bottom (code name for the like button) for the YT Algorithm and for everyone who will see the video to get the $10k-10M.
YES it deserves to go to the self employed. We get screwd at every turn.
Like button doesnt need a code name
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
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.
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.
Wow! THANK YOU! I can't get this money, but I know people who can. And really need it.
Happy Friday Team! Stay safe and wedge bigger!!
This is so awesome! Your always one step ahead, thank you 🙏
I applied thanks to your guidance 🙏
as an uber and doordash driver i file 1099s every year. am i qualified for this?
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.
Hey Kevin. I do Uber eats and I’m on 1099. I financed a car to do this. Can I declare that as a business expense to get this loan to pay off the car?
You can use it for "payroll"
Yes you can apply
Free money pisses me off. This hurts everyone.
I agree wholeheartedly. Love your solar vids by the way. Been watching you for about a year.
Dam who knew the government would help the small ppl? That’s crazy. I thought I was gonna live my whole life in corruption
They’re not helping you buddy. It’s a scam.
Alex Xander I know :(
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?
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..........
Thank you @MeetKevin by far your the most informative TH-cam Channel I follow. I am really enjoying your courses and Livestreams. As soon as I am done with the current courses I enrolled in. I will definitely jump on your other online courses. For anyone thinking about joining any of MeetKevins online courses stop procrastinating and join now!
Thanks a Million Kevin!!👌
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 .
Kevin thanks for all you do man! question is there any timeframe that we can expect getting an update from them? thanks bud!
Great info! I shared with friend and family.
Very useful information
Thank you Kevin
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.
Thanks my man I am self employed
So if you have a side hustle with no employees you don’t qualify?
@@90gdv even if my side hustle is not generating any money and not official yet?
j0404t Did it exist before Feb 15 2020? If so, then you’re solid.
GBT Thanks!
@@j0404t sounds like you have a real hardship. You need $10k.
everybody needs money.
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
I regret not starting that business last year
“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
You should have more subs!
Does this loan/grant program apply to gig workers like Uber and Lift drivers?
He just uploaded a new video specifically for gig workers!
@@mattkraig Where?
Say if you're a video editor, would buying a video editing PC count as something that's forgivable or is it just strictly the things that you mentioned?
He said when Grant money is gone, it's gone. Are you referring to Grant Cardone's money? lol
🤣🤣🤣
Kevin, I believe there might be another form to fill out if you're a sole prop. I wanted to clarify because it says on form 5 that "Sole Proprietors should complete form 5C". This way people don't select "other" on "Form 5" and then get asked to fill out form 5c a few weeks later when it might be too late to receive a grant at that point. Thanks for all the information. I greatly appreciate all the hard work you put into this channel. I just got my application completed and I also applied forbearance.
That would be a nice extra 10k to dump into the market
right man
@@Meow-vx4ok Exactly
Kind of shitty, knowing that this is coming out of people's taxes.