50 - COVID-19: CARES Act- Which Relief Plan is Best for You?
Keep Yours
English - April 09, 2020 22:24 - 28 minutes - 26 MB - ★★★★★ - 6 ratingsEducation Business capitalism debt finance hacks education financialwellness studentloandebt Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: 49 - COVID 19 - How to Understand the CARES Act
Next Episode: 51 - COVID-19: What You Need to Apply for a PPP Loan
The CARES Act offers some much needed financial relief in light of the hardships COVID-19 has brought about for many. But which option is best? The Economic Income Disaster Relief Loan (EIDL) or Paycheck Protection Program (PPP)? Where does unemployment fit into all of this? When and how can you combine these options? We help you do some of this math and figure out which relief program might be best for you.
UPDATE: As of 4/6, the SBA has changed the rules to only allow $1k/per employee upfront money (and therefore forgiveness on the EIDL loans). We will respond soon to update how this affects the decision making on which plan is best to use for you.
If you prefer, watch on YouTube here: https://youtu.be/H0xS0_r6V8s