April 20, 2020 at 4:10pm | Mac Rogers
Hey if your a small business owner, this maybe something that may benefit you. I'm Mac Rogers, broker/owner of Albert Rogers Realty here in Castro Valley, CA. Thank you for taking the time to watch. If you're new to my channel please hit the subscribe button. I do these real estate market video updates several times a week.

Right now we will be talking the new bipartisan bill proposal for an additional $500 billion.

This is part or additional to the $150 billion that was passed in late March to be allocated for various states.

As you are probably aware the $2.2 trillion CARES Act was passed and part of that bill was for the PPP or payroll protection program. That was $349 billion and that amount is already all gone.

There's a lot of small business that wasnt able to avail of this ppp. So part of this $500 billion package, $300 billion is being allotted to another round of ppp for small businesses.

Chances are if you applied and money is all gone then once this bill passes, your application should proceed. If you haven't applied yet, please start the process because the longer you wait the longer the line. Check with your bank.

There's also another $50 billion towards disaster relief. This was another SBA loan that you can get $10,000 that eventually becomes a grant. I believe that money ran out as well and towards the end they changed it to where you were only getting $1,000. Not sure what they will do once this passes.

There's definitely lot's of news out there in terms of who or what company is receiving PPP or other financial aid. Like Ruth Chris receiving $30 million and shake shack returning what they received, I even saw an article that Harvard got $9,000,000 in coronavirus money.

It's nice to hear that the government is coming up with additional funding because there are still a lot of small businesses that needs it. So get in line. These funds are for small businesses that needs it and in theory should become a grant and not a loan. I believe the next vote is on Wednesday.

Hopefully it passes sooner than later so it can get administered right away. If you have any information about this and would like to share please comment below or send me a message. Would love to hear your experience and you first hand account.

Again, if you haven't applied please do so now so that once it gets approved you are in line.

Thank a lot for watching and keep an eye out for my next update.


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