Who Likes FREE Money For Their Martial Arts School

Who Likes FREE Money For Their Martial Arts School

 Who likes FREE money for their martial arts school? Everyone

So, in this blog I will show you how

#1: State Unemployment 

Basically if you lost money from the outbreak. You should be able to do this… W2, 1099, etc…

For example: PLUS + FED Bonus $600 for 13 weeks

Normal pay around 40% 39 weeks

Who can get this? 

Self-employed/1099/w2

(if you are the owner and you can get W2 you still maybe able to get this)

Laid Off Completely or Partially

All states will be different, so you need to check carefully.  

Who can’t?

If you have business start-up or start-work after Feb. 15 2020

Tele-workers as they still can make money 

Other pay: severance, bonus, etc

How to apply: search google, state, unemployment

#2: EIDL (Emergency injury disaster loan) (SBA) Open Now. 

Free $10,000 (grant) 3 days- 3 weeks  

Any small business, independent contractor/no employees/1st come 1st serve

Self certified you have been affected SBA .75-4%

You can loan up to 2 million

SBA rate .75-4%

30-year loan and 10k free the other money is not forgivable

How to apply: search Google with keywords: SBA EIDL Or SBA Disaster

#3: PPP (Payment protection program) (SBA) Open Tomorrow

This one you Need to be done at your bank, you can’t do this online 

More leg work P&L, taxes

Need employees or 1099’s

2.5 x one month of payroll

This Loan up to 10 million. To 4% 10-year term 

No payments for 1 year

Forgive it if you did not qualify for this expense.

Qualified expense (Group health/ sick pay/vacation/wages/tips/commissions/401k match/rent/debt/equipment = FREE MONEY FOR YOU)

But you can’t pay more then 100K in payroll

And you need to bring back anyone you laid off and keep them for the next few months.

Extra Swag 

#1: Small Biz Development Center

Undercover billionaire. FREE money in the form of SERVICES

Build or Expand Business (Market Research/ branding/ trademarks/ accounting/  contracts)

#2: GYM Rent

You need ask for 6 months

Move to the back of the loan/installment and never pay it all back in 90 days…

#3: Personal Homes

Zero Mortgage/ forbearance

90 days/ extend for 90 days

And you need documents to prove what you talk 

Not affected credit / how its paid back 

Move to back of loan/ installment

Pay all back in 90 days NEVER DO and check with CPA and Banks

#4: Homes

You still need to pay Tax & Insurance. No Eviction while in forbearance

May not be able to get other loans 

#5: 401K

Check with CPA

Normally penalty & Taxes if you use for emergency 

100K 3years Loan. Income Tax is waived if paid back in 3 years

Normally 50K now you can borrow 100K

#6: $5250

$5250 Tax write off for US to Pay employees, student loans

$5250 tax free for the employee

Nice loophole for owners and employees

Check with your CPA

#7: Stimulus

$1200 up to $75K. Zero at $90K. $2400 Under $150K. $500 Child