BROADCASTS.com

Published: Jan. 11, 2021, 10:02 p.m.

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2021 Multi-Million Dollar Exit Plan - http://bit.ly/35zwhXs 

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Webinar is Thursday, Jan 14, 9 am PST / Noon EST / 5 pm GMT

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Make sure to apply for forgiveness on your original PPP loan!

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The $900 billion stimulus relief bill contains $284 billion for a second round of loans to small businesses under the federal government\\u2019s Paycheck Protection Program

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First priority is for small biz under 10 employees

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Starts Jan 13

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You have to show a 25% reduction in sales in a quarter

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I don\\u2019t know how you prove this

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2.5 times an applicant\\u2019s average monthly payroll costs in the one year prior to the loan being issued

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If a business uses at least 60% of the loan on payroll expenses and maintains its employment levels during the covered period of the loan, it can apply to have the loan forgiven. Otherwise, the loans carry a 1% interest rate and a maturity of five years.

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Forgiven PPP loans are not considered income for federal tax purposes.

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No, the loans will be 100% guaranteed by the U.S. Small Business Administration and will require neither collateral nor personal guarantees.

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The program will end on March 31, 2021, or earlier if the money runs out like it initially did during the program\\u2019s first round. So businesses should apply as soon as possible.

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You need to fill out a PPP application:

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Name and contact of all owners

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Tabulation of all payments of people up to $100k

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Prove your income with 940 941 form

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Proof of ownership (articles of incorporation)

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Gov ID

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Bank deposit info

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Certificate of Good standing from you state. Just google it

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Link to Exit Plan Webinar: https://secure.titannetwork.com/2021exitplan?sl=affiliate#a_aid=Andrew&a_bid=941fc785

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