Fintechs finally approved for PPP. Self employed & independent contractor info. Housing market squeeze. And don’t get scammed applying for PPP.

https://linktr.ee/blake_magee

https://www.entrepreneur.com/article/349121

https://www.reuters.com/article/us-jp-morgan-mortgages-credit-exclusive/exclusive-jpmorgan-chase-to-raise-mortgage-borrowing-standards-as-economic-outlook-darkens-idUSKCN21T0VU

https://www.businessreport.com/newsletters/new-questions-surface-as-ppp-applications-open-for-1099-workers

https://www.usatoday.com/story/money/usaandmain/2020/04/13/coronavirus-small-businesses-scramble-secure-federal-ppp-loans/5133984002/

What does $5+ trillion in stimulus mean for the economy? And other PPP thoughts..

Self employed and independent contractors.. you ARE eligible for the SBA Paycheck Protection Program. Just as the original roll out last Friday was a mess, expect there to be some hiccups as the details get worked out. Here are some thoughts..

https://www.forbes.com/sites/kellyphillipserb/2020/04/08/overwhelmed-plain-talk-on-the-paycheck-protection-program-for-small-businesses-affected-by-covid-19/#9236dc41cbf4

Finally some movement on the PPP loans today. Lots of confusion on PPP vs. EIDL. These are not the same, and it’s important to know which one you’re applying for.

PPP Fact sheet-

https://home.treasury.gov/system/files/136/PPP--Fact-Sheet.pdf

Application-

https://www.sba.gov/sites/default/files/2020-04/PPP%20Borrower%20Application%20Form.pdf

Applications can be sent to [email protected]

Today the Fed announced its facility to purchase PPP loans from banks. This had to happen for this program to move forward, but the economic impacts of this will be massive. Here are my initial thoughts, and below is the article in reference.

https://thehill.com/policy/finance/491403-fed-to-purchase-emergency-coronavirus-small-business-loans-from-banks

Unsure who is actually funding these PPP loans. Wells Fargo drops out. And BofA has $30billion+ worth of loan apps.

https://www.forbes.com/sites/sarahhansen/2020/04/06/small-business-stimulus-loans-bank-of-america-has-received-applications-for-326-billion-wells-fargo-says-it-cant-meet-demand-due-to-fed-restrictions/#58aa2e992f17

Thoughts on the recent PPP relief bill.