- (money sounds)
Oh, don't mind me.
I'm just counting my free 1000 dollar from the government.
Whoo, what's going on y'all welcome back
to the channel wealth hacker labs.
I'm your gracious host, Jeff Rose.
And this is one of those situations
where if you do not act now,
you may be missing out on a free 1000 dollar check,
potentially up to 10000 dollar
if you meet certain requirements,
and I'll share what those requirements are here in a sec.
On this channel here lately,
we've done a lot of talk on the economic stimulus check,
the package, the cares act and all the other bills
that are being proposed in Congress.
What we're talking about today is nothing new.
It was just additional funding for the original cares act,
especially when it comes to the paycheck Protection Program.
There's that PPP but more specifically today,
what we're talking about is the EIDL
the Economic Injury Disaster Loan.
So these were programs that were set aside for
not just big corporations,
but we're talking about small businesses,
individuals that are self employed, independent contractors,
you're my Empire, homegrown stores
that are struggling right now
because they had to shut their doors
because the bank quarantine at home
just like the rest of us,
and there is two different processes
that you could go through as a small business,
you could go through the paycheck Protection Program,
which I did,
or you can go through the EIDL.
Now with me, my personal experience is like
with the paycheck protection program,
it was more of a stricter process.
There was underwriting involved.
I had to provide all this documentations
as far as what my payroll was
and independent contractors which some people said
they wanted to know, others said that they didn't
and all to be found out that
by the time my application went through,
the government ran out of funding.
I know, so sad but don't feel bad for me.
So that was the more involved process,
the easier process was completing the EIDL application.
This was a much simpler process,
there wasn't any underwriting involved.
And most people that I know
that completed the application in a timely manner
got at least their 1000 dollars on up to 10000 dollars.
Now the key thing about this loan,
and I'm using air quotations here,
because it's really not a loan,
it is a grant.
So if you got the money,
they weren't expecting you to pay it back.
That's why we're talking about free money free 1000 dollars.
So how did you qualify?
So if you were a business owner,
if you owned a small business,
if you were self employed,
an independent contractor,
you had a side hustle
that you're trying to make some money
on the side you could qualify,
every individual part of your business
would make or get that 1000 dollar check.
So if you are on your own if you're your own person,
your own employee, you got 1000 dollar.
Let's say that your wife was also on the payroll,
then you would get, you guessed it 2000 dollars.
If you had on up to nine employees,
that would be 10000 dollars 1000 for yourself,
and then 9000 dollars for your nine employees.
So that's where the 10000 dollars comes into play.
But the issue was that there was
350 billion dollars that was set aside
for the paycheck protection program for the EIDL loans.
And that sounds like a lot of money because it is,
but all of that funding ran out
in just over two weeks and the money was gone.
It was gone.
And that's why I didn't get approved.
That's why I know other people didn't get approved.
And we're all wondering scratching our heads,
like when are the small businesses
going to be taken care of.
Cause you're seeing companies like Shake Shack
Or Harvard University that are getting stimulus funding.
But I know so many that have small businesses
that have employees have had to lay off
that they're still waiting on getting a check.
And here in lies the urgency of this message of this video.
It's because that Congress just approved additional funds
for the paycheck protection program
and more specifically for the EIDL loan.
And right now I wanna give a shout out to Meet Kevin
if you've not checked out his YouTube channel.
He is going berserk right now publishing
three to four videos per day
and he is covering this extensively
and I'm giving him a shout out because
he was the one that made me aware that
this past this additional funds
and that President Trump today
is going to be signing this back into law
to turn this switch back on.
But here is the kicker it wasn't approved
to have another 350 billion dollars added to these programs.
In fact, Kevin reported that it was only
10 billion that was added for the EIDL program.
Now I couldn't find that exact number.
But what I did find it was somewhere
in that ballpark of 10 billion and up to 60 billion.
So whatever the real number is,
either way, it's not going to last long.
If 300 and billion dollars was gone in just over two weeks.
And if it's 10 billion or 50 billion,
this thing is going to be gone in less than a week.
So you wanna make sure that
you get your applications in immediately.
So what you need to be doing
is making sure that you have your computer
or you have your smartphone
and you have this URL saved so that you have a bookmark.
And once this application is turned back on,
it is ready to go.
This is the link where the application used to be.
If you go there now you'll see where it says
notice a lapse in appropriations.
Now What's about that word,
it just seems like the most
inappropriate word to use but hold the story.
Chances are as what Meet Kevin reported
that this was the URL, this is the URL that he went through
to complete his application.
Or what I mean.
The infrastructures are already in place,
I mean that's the whole point.
They've already made this,
they've already done this,
all they have to do is turn that page back on.
And once they do people are going
to be flooding to this completing applications,
getting it submitted,
and all that money is going to be gone if you don't act now.
If you're not sure if you qualify for the EIDL loan,
just go to the link I've shared in the description.
It will share all the information
that you need to see if you qualify.
And if you're really not sure once the page is updated,
and the application is there,
once you start going to the application process,
you'll quickly see if you qualify
or if you meet the criteria.
But once again like when this thing is turned on,
I mean the government they're already you know
they're already printing money, right?
But eventually this money, it's gonna run out.
Come on government.
I need some more.
Give me some more all gone.
I'm curious if you are one of the original ones
that apply to the EIDL loan?
Did you get your check?
Was the process easy?
I'm curious for those that are getting ready
to going through it again.
Can you offer any guidance?
Can you offer any expectations on what
they're going to be go through?
Hopefully it's a more seamless process
than what we're seeing with the
1200 dollar economic stimulus check.
Based on what I've heard from others
that went through the EIDL loan process.
It sounded a lot more seamless but you know
I'm curious to hear your experience, your words,
I know the wealth hacker nation would greatly appreciate
anything that you have to share.
Archer, I hope you enjoyed this video.
Until next time, this is Jeff Rose,
reminding you that it's your money,
it's your life,
and only you can make it awesome.
Just don't depend on the government too much
because they run out of money.