The Stimulus bill could give you $10,000, up to $10,000,000, FOR FREE – here’s how, step by step. Update 4/4/2020 – Very Important for Free $10k:
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⚠️If you’re Self Employed WITHOUT Employees or 1099 Help, go here:
⚠️The EDIL Grant and Loan Program was JUST Passed — this means the SBA MAY NOT yet have all systems go for this — I personally recommend you “get in line” NOW to beat the rush — but do realize it’s going to take time for the SBA to catchup with this new program.⚠️
Senate Stimulus Bill:
Apply for SBA Grant/Loan HERE:
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If you are a self-employed individual, have a side hustle, are a 1099 employee, or are otherwise self-employed and write people 1099s (pay them), you could qualify for a FREE Economic Injury Disaster Loans (EDIL). The first $10,000 is given you within 3 days AFTER applying (once the bill is passed) as a grant, EVEN IF you get denied for the actual loan. Loans will be between $10,000 to $10,000,000 – which means you could literally get up to $10,000,000 FREE.
No payments are required on the EDIL SBA loan for the first 6 months and possibly up to the first year. The interest rate will be under 4% and the loan may be FORGIVABLE – but you have to request forgiveness. There is NO personal guarantee OR collateral required for the SBA $10,000 EDIL loan / grant. However, you must spend the loan money on approved expenses, like employee payroll, retirement, healthcare, vacation pay, sick pay, taxes, rent, mortgages, business equipment expenses, etc.
Why would the government do this? My guess is rather than paying everyone unemployment AND risk companies file bankruptcy, the government would rather give money to people creating jobs like self-employed individuals, sole proprietors, s-corporations, and other people who pay or otherwise hire people – IF they’re impacted by the outbreak. This would allow people to keep their business up and running.
Common questions: Do I qualify? If you’ve been in business before Feb 15, 2020, you EITHER have employees OR 1099 people (pay help), you SHOULD qualify for the $10,000 grant PLUS potentially a forgivable loan up to $10,000,000 for approved purchases.
What do I have to spend the grant money on? Approved business purchases like payroll and business operating costs. The point is to keep your doors open (well, financially open).
#FreeMoney #HowTo #Bailout