How To Take Advantage of Small Business Stimulus Relief

PPP- Trump signs extension of PPP small business relief fund
- June 30 Deadline to August 8th
- Constant modifications to the PPP has been made since it has been signed into act.
1. Adding additional money
2. Preventing large cooperations from taking the money
3. More flexible to use by decreasing the 75% requirement down to 60%
4. Now the deadline for applying has been extended

At the moment $130 billion of $660 billion remains eligible for businesses to use at the moment.

EIDL- $1,000 grant approvals are flooding in

- Many users are getting automatic approvals for the EIDL in as little as 2 business days.
- Confusions regarding the EIDL. When you apply you get both a loan and a grant. A grant is your money that you DO NOT have to repay. The loan you can choose to decline it but it has some very good competive rates. If you are affected by the pandemic and you need a loan. IMO the EIDL is one of the best business loans you can choose to accept.
- 30 year term
- 1 year of deferred payment
- Interest at 3.75%

Taxes are coming up as well as your 2019 roth IRA contribution deadline.

Because of this pandemic the April 15th deadline has been extended to July 15th.

I know how easy it is forget about books, taxes, and maxing out contributions. Don't forget to do this if you have not yet already.

My method when paying taxes to get 10-20% back.

Sign up for a rewards credit card that requires you to spend a couple thousand dollars. You can pay your taxes online through the IRS portal in exchange for a small percentage e.g. 2% processing fee.


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