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STEP-BY-STEP: Applying for the 10k Grant through SBA Disaster Loan [STEP-BY-STEP]

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Business Finance Coach

This video walks you stepbystep through how to qualify for the (up to) 10,000 SBA Grant, which is available for businesses economically hurt by coronavirus.

Subscribe here:    / @businessfinancecoach  

SBA Disaster Loan & Advance (used to get the 10k grant)
Selfemployed without employees qualify (it’s stated on first “page” of the application)
Apply for sba loan and check the box for 10,000 “loan advance”
Advance is turned into a grant to get money to people fast (you do not have to take out a loan)
Loan Rates:
3.75% for Small Businesses
2.75% for Non profits
Costs to replace:
Payroll (selfemployed/1099 owner pay is net income see "7 ways" video below)
Fixed operational costs such as rent or mortgages
Ongoing expenses that you continue incurring, like utilities (not taxes)

Application: https://covid19relief.sba.gov/#


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posted by stephenybc41