Do you know anyone who is self employed - or who owns their own business?
It appears that the US Senate will be passing an additional $370 billion in funding for the Payroll Protection Program. If you are self employed, or know of anyone who's self employed please make them aware of this critical program. The PPP, in a nutshell, is designed to help Small Business Owners, Independent Contractors and other Self Employed folks make their payroll (and pay themselves) over the next eight weeks. The best part is that the funds are completely "forgivable" if a few conditions are met. Just a disclaimer: None of us at Conrad Klein are accountants, so be sure to talk to your accountant for all the details. We have heard that the big banks are very backed up with applications right now, and many have stopped accepting applications altogether - but don't be discouraged! A lot of FinTech companies like Paypal and Kabbage are still taking applications.
Check out Paypal's website for more information on the program and be sure to forward this information along to anyone you know who may benefit. This may be just the lifeline needed to get through these challenging times.
Stay safe and healthy!