New EIDL Grant and PPP Funding
There’s a new Stimulus bill doubling the amount of EIDL Grants available to $10 billion. IThis bill is adding an additional $310 billion dollars to, essentially, the Cares Act. Of that, specifically $60 billion is going directly to small banks to recapitalize the PayCheck Protection Program (PPP).
For the EIDL Grants, it’s my understanding that you don’t have to reapply with the SBA. In fact, for now at least, the SBA portal is not open. But if they do open it be sure to watch other video so you’re ready to go.
But if you applied that money should, in theory be going to people still in line. However, I have no idea if the $10000 grant we were expecting from the SBA is actually going to materialize. It’s looking like they’re sticking to $1000 an employee for now.
When it comes to the PPP you may want to file your loan with small banks or credit unions because it’s become apparent that the larger banks are prioritizing their biggest clients who have the biggest loans with them. While this may best serve them it does not best serve you. So unless you’re a hedge fund or a company like Ruth’s Chris Steak House, this might be the best way to go for you if you’re an actually small business.
Associate Broker, CEO
I grew up in the Real Estate industry. I started by ripping up carpet for turnovers in middle school and have been moving up the ladder ever since.
Now I am ranked in Arizona’s top 10 brokers for real estate sales volume and total asset value sold. I am the go-to broker for large funds, Family Trusts, and select high net-worth individuals.
My newest Real Estate Equity Fund now brings my investors added value through our vertically integrated business model.
For years I’ve bought 30 houses a month cash at market rate. I buy and sell apartment complexes between Phoenix and Tucson. I reposition and rehab large apartment complexes in Arizona.
I helped grow the family property management company from 350 properties to over 1000. This was achieved by creating superior software and marrying that tech with generations of real estate experience.
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3020 E Camelback Rd #255, Phoenix, AZ 85016