Sorry if the subject line sounds like clickbait. It’s not! These are real government programs designed to help small businesses during this difficult time.
If you are a property owner, small business owner, independent contractor or gig worker, watch this video to learn about two programs from the government’s $2 billion stimulus package that can help you get FREE money! These programs are first come, first serve, so apply early before the funding runs out!
1. EIDL – Economic Injury Disaster Loan: Apply now at https://www.sba.gov/funding-programs/disaster-assistance. The application only takes 15 minutes and you can apply for an “advance” of $10,000 that does NOT need to be paid back.
2. PPP – Paycheck Protection Program Loan: Applications open on Friday, April 3, and you apply through your local bank or other SBA lender. Check this site for frequent updates: https://www.sba.gov/document/sba-form–paycheck-protection-program-ppp-sample-application-form. This program allows a small business to borrow up to $10MM, which does NOT need to be paid back, as long as the loan is used for qualified expenses, such as payroll, health insurance, rent, mortgage, etc.
Here’s my video from last week’s on the coronavirus’s effect on commercial evictions in California:
Entire PDF of the CARES Act:
Frequently asked questions about the PPP:
Contact me for any commercial real estate needs – I focus on the sale of retail properties in Southern California.
Disclaimer: I am not a lawyer or an accountant – check with your lawyer or accountant if you are unsure of anything I say in the video.