52 - COVID-19: CARES Act - Where is My Money?
Cares act money has been slow to move, whether you’re applying for PPP, EIDL, or unemployment benefits, everyone is waiting on money. In this episode, we explain the delays so you have a better understanding as to when you might get some of your money.
In this episode:
Confusing discrepancies in language - welcome to our government [:30]
Salary cap calculations [3:00]
Problems understanding how to interpret the act and calculate properly [5:00]
Problems with underwriting this law that make banks nervous [5:45]
Problem #1 with this law [7:00]
When will we see our money? [10:30]
When the forgiven period begins [10:30]
EIDL loan loophole that changed [12:00]
Rules for self-employed people [14:00]
Which to apply for - EIDL or PPP? [16:30]
Unemployment issues with implementation [20:30]
Systems are not set up to carry this load [25:30]
Some good news [27:00]
Closing thoughts [29:30]
If you’d like to watch on YouTube, check out our video here:
