Seanna Asper is a CPA (in Washington State) and an accountant who I met in coaching school. What this means is she brings a very wonderful approach to dealing with numbers. Here’s how she says it, “In this information age it’s easy to get information and seemingly harder to find people that truly care about you and your growth. That’s what makes me different. I have a Master’s and Bachelor’s in accounting, but I’m not your typical accountant. I’ll partner with you in growing your business. Your success is my success.”
We share a philosophy, we both believe in helping others be successful. In today’s show, Seanna explains to two different ways gig workers and small businesses can participate in the federal loan programs instituted as part of the CARES Act. These are really important and she explains them in plain English.
I’ve added resources below. PLEASE take advantage of one of these programs if you’re eligible. It will help us all stay afloat.
Seanna has offered to answer questions if you have them. Visit her site for contact information.
Seanna wrote a blog about these two programs: she’s updating it regularly as things evolve. Might be worth bookmarking.
The Paycheck Protection Program (PPP) details are here. This is to replace lost income. You’ll need to have filed 2019 taxes with a Schedule C. If you use this for payroll, the loan is forgiven; you’ll owe nothing. Finding a lender might be a challenge. Do not give up. More lenders are coming online and if you don’t have previous loan experience with a bank, it just means you’re gonna need to push.
The Covid-19 Economic Injury Disaster Loan (EIDL) information is here. These are targeted for businesses that need capital to restart their business. This is a low interest loan, different from the PPP above. You might qualify for both but don’t double-dip.
No matter what, keep meticulous records. Both the banks and government are going to want proof you used the money for the right things.