How to Start Applications for New Government Loan Programs

Published: Wed, 04/01/20

I have been madly studying and reading the 880 page CARES Act law the last few days. It was only signed into law on March 27^th. $349 billion is actually going to be given away by the federal government in the Paycheck Protection Program (PPP). This is no April Fool's joke. This is important. You are going to have to act fast, and it is going to be complicated. The application came out last night, and it looks like a simple form simple. Simple government form? That's an oxymoron somehow, but they are trying to get money to you. What’s your share of that money?

I have prepared a YouTube video on the PPP under the CARES Act. It is an overview. Check it out. I have also prepared a YouTube video overviewing the Economic Injury Disaster Loan (EIDL) SBA program.

I am meticulously preparing a 90 minute course showing you how to prepare what you need to get the PPP loans. These loans will be forgiven if they are used for payroll and keeping your business open. On the accountants’ group chats they are preparing to charge their clients $2,000 - $10,000 to help them apply for the PPP loans and EIDL loans. The process of getting a loan is not straightforward, and the banks (where you will apply) have no clue what they are doing yet. They are waiting for instructions from the SBA, who is waiting from instructions from the Treasury Department. Like I say, the application came out early April 1st, so I have got to stay on top of everything for you. Your job is to act on the latest info.

I have been preparing "how to" courses for almost 40 years, and millions of people have used my information. My course on these government programs is only the beginning installment. I will have to update it over and over again during the coming year. Don’t worry, once you are in the system, you’ll get all the updates for free. Some of these government programs die at the end of June, but some like the EIDL program will go all year. The regulations haven’t been issued yet, but from the law itself, I can see what needs to be done.

If you think you are going to waltz down to the bank and get the loan, you will miss out. The banks are already slammed and they have no clue what to do yet, but I will show you what you need to do today to prepare for what will come literally tomorrow. You will get one shot at the bank, and it will have to be done right, or forget it.

I have been concentrating on the course and don’t have the product ready to put up on my website. That will come in a few days. Right now, if you want info on the course, just email me at info@legalees.com and put "PPP" in the subject line. I will send you a write up with pricing and more information on the course by April 2^nd so you can get going. The course should be ready to deliver by April 4^th.

This is going to take us all working together. Feel free to submit questions in the comments under the YouTube videos. You know my videos and that I am very straightforward. This is serious and extremely urgent stuff. Please forward this email to your friends that might have small businesses. I will guarantee they will want this information, and there isn’t any time to mess around with a big marketing program to get the word out.

It will take all my time for the next few weeks to keep up with the regulations as they evolve, so help me get the word out to other small business owners. Marketing is not my goal on the YouTube channel (we don't even monetize the videos with interrupting ads), but I’ll help you and you help me. Our world is upside down. Let’s try to set it right.

Thanks.

Lee Phillips, JD

US Supreme Court Counselor