PPP (The Paycheck Protection Program) has re-opened for most banks and lenders. This includes both the first round (1st Round) and the second round (2nd Round) Draws. In this video, I'm going to explain EVERYTHING you need to know about the PPP (paycheck protection program), what documents to prepare, and how to apply for the PPP. Enjoy!

Thanks to Womply for working with us to provide amazing HELP when applying for the PPP! You can apply for the PPP with Womply here: https://www.womply.com/kwakbrothers?utm_source=kwakbrothers&utm_medium=marketing_email&utm_campaign=ppp&utm_content=leadgen

Sign up For Gusto: https://gusto.com/d/samuel4386

Are you looking for the EIDL Explanation? Here is the video: 
https://www.youtube.com/watch?v=2qdtqjysmuw

The PPP is a forgivable loan for small business owners, gig-workers, side-hustles, and independent contractors. The loan is ONLY forgivable if used for specific expenses outlined by the SBA. Those expenses could be:

1.) Payroll Cost (must be 60% of the expenses as part of the PPP forgiveness rules)
2.) Rent/Mortgage interest 
3.) Utilities
4.) PPE (Personal Protection Equipment)
5.) Property Damage due to Civil Unrest in 2020
6.) Operating Expenditures
7.) Supplier Costs. 

In order to apply, you must simply fill out an application with a qualified Lender. I personally recommend Womply to help you apply for your next PPP loan:  https://www.womply.com/kwakbrothers?utm_source=kwakbrothers&utm_medium=marketing_email&utm_campaign=ppp&utm_content=leadgen

Documents you'll need:

1.) Your Payroll Reports & Statements (12 months)
2.) 2 years of tax returns
3.) Quarterly Filing Reports
4.) Profit & Loss reports (2019 & 2020 ) -For 2nd Draws
5.) If you have an LLC or a Corporation, you'll need;
    a. Articles of Incorporation OR Article of Organization
    b. EIN letter from the IRS
    c. Operating Agreement or the ByLaw for Corps. 

I'm also going to give you the full instruction & breakdown of the PPP application tutorial in this video!

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---DISCLAIMER--- The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc. and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.