David Albanese joins me today to take a look at two important COVID-19 relief programs designed to help America’s small businesses.
As some of you may already be aware, the Small Business Administration launched a COVID-19 disaster relief program that can give eligible business owners an advancement of $10,000 and a subsequent loan to help them stay afloat. How is the money disbursed? What challenges are business owners facing when they try to apply through a bank’s SBA representative?
David Albanese, a local business owner, agent, and investor, has helped several business owners navigate this process already. He and I tackled a lot of the questions swirling around this program and also the Payroll Protection Program (PPP).
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch it in its entirety or use these timestamps to browse specific points at your leisure:
3:20 - Understanding the disaster relief program offering up to $10,000: Who actually qualifies?
6:00 - How the money is disbursed
11:30 - How the Small Business Administration (SBA) is dealing with the overwhelming number of applications
15:34 - The key to surviving this pandemic as a small business and why this relief program is so important
19:45 - Explaining the Payroll Protection Program (PPP)
28:19 - Can the PPP loan be used for anything other than payroll?
32:41 - Are you able to apply more than once if you have multiple companies?
39:00 - Can real estate agents apply for these programs?
43:50 - How we use these programs to help others and grow our networks in the process
45:00 - Wrapping things up
If you have any questions about what was discussed in this message, or if you’re interested in buying or selling a home soon but aren’t sure how to proceed in these times, reach out to us. We’re always here to help, and we look forward to hearing from you.
