DecaMillionaire Decoded Ask Justin featuring Allen Brown: SBA Disaster Loans for Small Business Owners
In episode 246 of Financially Simple, Justin talks to Allen Brown of the South Carolina Small Business Development Center about the special conditions of SBA Loans made available during the COVID-19 pandemic.
Difficult times require exceptional measures, and the Small Business Association is taking those measures to help Small Business Owners during this time. Justin and Allen go over the guidelines, qualifications and terms of the SBA disaster loans that are being made available to Small Business Owners.
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TIME INDEX:
01:51 - Ask Justin featuring Allen Brown: SBA Disaster Loans for Small Business Owners
03:51 - What is the SBA?
04:24 - What Small Business Owners can Expect
05:25 - Qualifications for Lending
07:01 - Is the SBA Underwriting the Loans?
08:59 - Who is Eligible?
09:22 - Solopreneurs
11:16 - When is This Available?
11:57 - How to Calculate Your Losses
14:41 - Where to Apply
15:33 - How Long Does it Take?
17:56 - Further Qualifications
20:11 - What is Included in Fixed Expenses?
21:00 - Three Phases of the Program
24:53 - $300 Billion in Lending
25:45 - SBA Bank Approval
29:04 - One Piece of Advice
31:20 - Wrap Up
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BIO:
Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute’s Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
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The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.
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