EIDL Grant Questions Answered + Hidden Process

EIDl Grant & Loan... Here in the Kwak Brothers, we've been following the SBA EIDL loan and the grant program for sometime. We've been giving you live updates as well as changes to the program along the way. We've even showed you how to apply for the EIDL Grant and the loan. In this video, we're going to answer ALL of your latest questions about the EIDL grant. Also, I'm going to explain why I think you're not getting anything from the EIDL Grant. Enjoy...

0:00 - Introduction
1:08 - EIDL Q&A Time
9:40 - EIDl Loan Process Updates
11:47 - Conclusion

EIDL Loan Contract Breakdown:https://www.youtube.com/watch?v=sJbMtGF420Q

EIDL Loan What can you Use It For: https://www.youtube.com/watch?v=wn69aTgE3Yg

Learn how to pay off Your mortgage FASTER: https://www.youtube.com/watch?v=3f-ebCjeH8o

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If you applied for the SBA EIDL Loan or the EIDL Grant, you probably have ton of questions and you're waiting on the updates. In this video, I'm going to take the first half of the video to answer your questions and comments from our previous videos!

Couple of reminders about the SBA EIDL Loan and the EIDL Grant program:

1. SBA EIDL and the PPP (Paycheck Protection Program) are two separate programs. The PPP is forgivable while the EIDL is not. Only the grant portion is considered "forgivable"

2. EIDL Loan is ONLY for existing businesses. Not new businesses. You must have been in business for the last 12 months as well as you're generating income from the business.

3. EIDL Loan usage has some rules... You MUSt follow them - otherwise, you'll be in default. Here's the full breakdown video: https://www.youtube.com/watch?v=wn69aTgE3Yg

4. The EIDL Grant is given to you as a grant. You do not have to pay it back. The grant is based on how many employees... up to $10,000.

5. If you're applying for more than $25,000 for the EIDL loan, you will need to pledge your entire business as collateral.

6. EIDL Loan application process does involve a credit check!

7. The EIDL is for Economic Injury Relief... It's NOT meant for you to expand your business, buy a new property, or to buy a new car. PLEASE GUYS... don't take advantage of the EIDL unless you're actually hurting. There are businesses that actually need it.

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The Kwak Brothers are millennial real estate investors who have acquired over 82 Units of Rental Units and have raised over $20,000,000 of capital for their real estate deals. They are based out of the Chicago-land area and they are dedicated to helping hard-working people become financially free real estate investor! They specialize in owner financing acquisition and raising capital. They are the creator of the FORCE Strategy (Find the deal, Owner Finance It, Raise the Capital, Cashflow It, and Expand your Financial Freedom)

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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.

Видео EIDL Grant Questions Answered + Hidden Process канала The Kwak Brothers