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[00:00:00] Michael King: Hey everybody, welcome to In the Trenches with Michael King where we talk with business owners, leaders, and executives about the...
By now, most of us have applied for the EIDL and or the PPP.
Many of us applied early last week.
We're all expecting the $1200 checks.
The question we're all asking now is - where's the money?
Since we haven't done a public webinar in 3 business days now, I thought I'd take a quick moment to update everyone on what we're seeing:
The Economic Injury Disaster Loan (EIDL) is the program that's run and funded by the SBA. Since the CARES Act was passed, the EIDL also includes a $10,000 grant that businesses can use for things like payroll, rent, and other operating expenses. The EIDL is applied for via the SBA's website. So far, this program has been an absolute disaster.
To the best of my knowledge NO ONE has received the emergency grant nor the full loan since the CARES Act was passed a few weeks ago. The slow payments have even started to get the attention of major news outlets and a few senators.
I have seen...
(Last Updated 4/8/2020 5:41pm CDT) -
Wells Fargo is going to start accepting applications again as of 4/8/2020.
Chase is again accepting applications as of 4/6/2020.
Navy Federal Credit Union is now accepting applications. Link below.
Bank of America is now accepting applications. Link below.
Today is April 3, 2020 which means that banks and credit unions are now legally allowed to start processing Payroll Protection Program (aka PPP aka 3P aka P3 aka "that loan that can be forgiven").
Where do you apply? Which banks can do this stuff?
I've started compiling a list!
If you'd like more information on the program, we are offering another free webinar on Friday, April 3, 2020 at 5pm EDT / 2pm PDT. We will go over the programs and take your questions live! Register here.
I will update this list periodically as new information becomes available.
After an illustrious career spanning nearly 40 years focused on supply chain, logistics and transportation, retail, sales and operational excellence strategy at UPS – including The UPS Store franchise network and UPS Supply Chain Solutions – Rocky Romanella became the Chief Executive Officer and Board of Director for UniTek Global Services, a provider of engineering, construction management and installation services to companies specializing in the telecommunications field.
Rocky is currently the Founder and CEO of 3SIXTY Management Services, LLC, a management consulting firm specializing in Executive Speaking, Leadership Development and Consulting Services.
[00:00:00] Michael King: Hey everybody, welcome back to another exciting episode of In the Trenches with Michael King, where we talk with business owners, leaders, and executives about the lessons they've learned while fighting in the trenches...
Hey everybody, my name is Michael King. I hope you're having a great Thursday. like many of you, yesterday was a complete poo show, and I let the day get ahead of me and I did not record a video is I promised I would. So, I will make up for that by posting two videos tomorrow for FEI Friday. So, today though.
In the interest of time, I will not be able to edit anything. So you're going to get kind of a raw, unedited take here. So whatever I get on the first take is what's going out there, a good, ugly, or indifferent. So, what am I grateful for today? I am grateful for the fact that despite all of the shortages at the grocery store, there was still plenty of coffee because I have been to slamming coffee for the better part of two days.
and so I'm very grateful that, the whole foods by my house wasn't out of coffee. And I'm thankful that the coworking space, that I'm a member of. Also had coffee. So you're probably thinking to yourself, Mike, it doesn't sound like you're practicing...
[00:00:23] If you’ve found yourself in one of those situations, one of those predicaments where you realize that you're in a world of shit, a really bad place. You've made some kind of mistake, you've screwed something up pretty badly and you know you need help. But you don't ask for it because you're so embarrassed by the mistake that you've made.
[00:00:46] You're so fearful that others are going to judge you for what you've done, or you feel like you don't have anybody around you that can even help you...
You don't have time to research all of the financial things every day.
Let me do that for you!
I'll email you whenever we have important blog updates so you can stay informed.