REALTORS® – Have You Applied For Your PPP Funds?
Time Is Running Out!
June 16, 2020 update:
REALTORS® – Applying for your PPP funds just got easier to do with the new EZ application, but you need to act NOW!
SBA and Treasury Announce New EZ and Revised Full Forgiveness Applications for the Paycheck Protection Program
WASHINGTON—Today, the U.S. Small Business Administration, in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020. In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application that applies to borrowers that:
- Are self-employed and have no employees; OR
- Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees; OR
- Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce the salaries or wages of their employees by more than 25%.
The EZ application requires fewer calculations and less documentation for eligible borrowers. Details regarding the applicability of these provisions are available in the instructions to the new EZ application form.
Both applications give borrowers the option of using the original 8-week covered period (if their loan was made before June 5, 2020) or an extended 24-week covered period. These changes will result in a more efficient process and make it easier for businesses to realize full forgiveness of their PPP loan.
New EZ formed filled out with notes: https://www.dropbox.com/sh/
There are also a number of other resources you can make use of that are still doing business despite the crisis. As grim as it may be, there are many avenues available to you, once you stay calm. Learn more about the best 8 Financial Tools to Combat COVID-19 in SMBs Survival Guide.
June 11, 2020 original broadcast:
Many REALTORS® believe they have received the PPP, but in reality, they got a stimulus check or an EIDL advance. Neither is the PPP YOU are entitled to!
Many also believe if they aren’t struggling now, they don’t qualify.
And lastly, they may have been erroneously turned down by a local bank that doesn’t fully understand the PPP either.
If you give us 30 minutes, Eric Kistner, Managing Broker at Bridge Pointe Real Estate, Kingsport, TN and 2018 NETAR REALTOR® of the year, will explain the process, and put you in touch with a lender who knows what’s up!
PLUS, we will give you a few secrets to help build your business!
In our attempt to stream live on Facebook, we ran into a few technical interruptions, but here you can watch the entire presentation along with links to important references to help you Get Down with PPP!
- Link to PayPal: https://www.loanbuilder.com/ppp-loan-application
- Forgiveness: https://www.sba.gov/document/sba-form–paycheck-protection-program-loan-forgiveness-application
- New EZ formed filled out with notes: https://www.dropbox.com/sh/