Paycheck Protection Plan – SBA Disaster Loan

If your business was affected by the Virus Pandemic, getting Payroll Assistance is actually Quick and Easy! Don’t lay employees off, use the money allocated from Governmental Disaster Relief and PPP to keep your business going through these trying times. This could be the difference between recovering after things return to normal… and going out of business for good. This video talks about the Paycheck Protection Program and the SBA Disaster Loan Assistance Program. What they are and how to apply.

I want to give a public service announcement about the programs going on right now for business owners. As many of you know, I own an insurance agency.  It is high-risk auto FR44 and SR22 nationwide.  With the DMV  closed and with the courts being closed, obviously people aren’t calling for insurance. My employees are having an issue.

There are programs that the government is offering to keep people employed and keep them on your payroll.  I’m not going to go over specifics because I’m not a CPA.  I’m not going to pretend to know everything. What I do know is I wasn’t going to do it because everything the government does is so tedious. And there’s so much stuff you have to give it’s absolutely ridiculous. So I wasn’t even going to go do that. But after finding out more information about it, this isn’t that hard. All you have to do, I’ll put the link below), is go to   They are doing the PPP program.  So basically you take anything for your employees have to be W2 employees, including yourself, you take it up to $100,000 a year that you would make anything above 100,000 doesn’t count.  So let’s say somebody makes $50,000, one of your employees, you take that divided by 12 and then you multiply that amount by 2.5. And that’s what they would be willing to give you to get payroll through on that particular employee.  So you go through all your employees and you continue to add it up.  But the good thing about kabbage com – it’s online. A lot of the major banks aren’t even doing this yet. Online. You don’t have to go in.  And a lot of the banks are just doing it for people that they bank with – existing customers. You can just do right online. I did it in like 20 minutes.

You can also apply for the disaster loan Assistance Program, which is up to $10,000 of basically a forgivable loan. So that’s through the SBA. I’ll put that link in there. as well. And all you’re basically doing is asking for $10,000 in addition to the PPP.

So I don’t want to make this too complicated with all these acronyms. What I want to say is – if you are a small business owner, and you have a W2 employee,  jump online with the links below and apply for this.   There’s no reason to let your employees go, or pull money out of your own pocket when this Assistance Program is made to help you and your employees get through this time.

Some of the stipulations and I’ll just do the overview, is 75% the money has to go to payroll.  That’s why it’s the PPP payroll protection programs for payroll 25% can go for lease, can go for utilities,  can go for other things. But if you do the 75%, you don’t have to pay it back. The $10,000 that you get through the SBA, you can do both of those together.

So for instance, with the insurance agency, it was like $32,000 to $33,000 for the PPP and then $10,000 more for the disaster assistance. So that’s $43,000 to keep the thing going now.  You have to pay the money back if you don’t use it properly – it’s a 1% interest rate which starts accruing immediately.  but it’s deferred for six months. You can’t even get anything less than what you need less than 1%.  You have to provide some forms like your 941 form,  some federal forms.  You have to show the W2’s, I mean, just the normal stuff that you should have. You have to have been in business on February 15, 2020,  Have to have had a business since then. 

If you own a small business, go to the links below, go to and apply for this and then go to the SBA and apply for the $10,000 Disaster Assistance Program.

Also, if you’re a self-empoloyed, if you’re 1099, you’re self employed, you’re a one man band, I think Friday, April 10, is the day that you can apply. But the problem with this assistance is there’s a there’s a certain amount of money allocated toward this. And once that money is gone, it’s gone. So it’s kind of a first come first serve thing. I feel almost like you owe it to your employees to apply for this in you can do whatever you want. You don’t have to take the full amount. Just take enough to get your employees through this thing for a couple of months is what it’s designed for.

That’s the PSA public service announcement.

Again, this is Sam Ridgeway. I hope you take my advice and do this. I hope that this solves some problems for some people out there that are wondering how they’re going to make payroll, but thought that the system was going to be too complicated.

PayCheck Protection Program (PPP) through 

SBA Disaster Loan Assistance Program



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