Everything You Need to Know-PPP CARES Act

In this Trupodcast, I discuss the PPP Application along with the differences between PPP and EIDL Loan options. PPP loans will ONLY be disbursed by SBA 7(a) Lenders and NOT the SBA. EIDL Loans will be disbursed by the SBA ONLY.

 

DISCLOSURE: I am not a CPA, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, or financial advice. Please review said information with your attorney or tax professional for guidance.


Update: Paycheck Payment Program-CARES Act

In this video, I discuss the PPP Application along with the differences between PPP and EIDL Loan options. PPP loans will ONLY be disbursed by SBA 7(a) Lenders and NOT the SBA. EIDL Loans will be disbursed by the SBA ONLY.

 

DISCLOSURE: I am not a CPA, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, or financial advice. Please review said information with your attorney or tax professional for guidance.


$10,000 Grant-CARES Act

https://youtu.be/f63y_avJzDU

 

 

In this video, I discuss the $10,000 Grant that is available via the EIDL SBA Loan for Small Businesses. There is $10 Billion worth of these grants available and it is first come first serve! Even if your business does not qualify for an EIDL Loan you still can get this grant for business expenses!

 

Disclosure: I am not a CPA, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, or financial advice. Please review said information with your attorney, tax or financial professional for guidance.


TruPodcast-Episode 4 Silas Matchem

 

Hey Tru Team! In this episode of the TruPodcast our guest is Silas Matchem! Silas is the Executive Director of the Evansville Promise Zone. We discuss what and how the Promise Zone impacts its residents and businesses. Silas also discusses different aspects of what the Promise Zone is doing to help during this tough time. If you need to get ahold of Silas he can be reached via e-mail at Silas.Matchem@echohousing.org


Are You Ready to Take Control? Side Hustle

Last night the Senate passed the $2Trillion Stimulus Bill. It is now off to the House for a vote on Friday. What this means is there will be some relief in sight for Americans and small businesses. Now, that being said we still need to be vigilant about ensuring our most important needs are taken care of. But the one thing we have to remember is that adversity either breaks us or we beat it! Now is the time to rise up and fight through this adversity! 

 

From our last post, we outlined the initial steps that you needed to take to ensure your immediate needs were taken care of. If you did not see that post here it is

 

For us that are under orders to stay home, we have an opportunity to generate some much-needed cash. What I am talking about is selling the stuff you have in your house. We all have items that we bought to just have, and now those things can generate some much needed 💰💰💰.  Here is what I am doing to generate some additional monies.

 

 

  • Sell items on eBay 
  • Clothes
  • Watches
  • Video games and console
  • Old cell phones
  • List larger items for sale on Craigslist
  • Mountain Bike
  • Desktop computers
  • Kitchen gadgets

 

 

The list above is what I identified in my house that I am going to be selling. You can also sell items on apps like LetGo and Mercari

 

I have a question for you….. 

 

How many items do you have in your home that you can sell?

 

Next Steps: Turning a Passion into an Income

 

Stay Tuned!

 

Be safe and healthy!


Are You Ready to Take Control?

As each one of us navigates this new daily life there is a lot of uncertainty what tomorrow will look like. Please take a moment each day and be thankful for your loved ones! Today, we got some good news that the Senate has passed a $2 Trillion Stimulus Bill. At this time there is very little information out there on how these funds will help small businesses and households. Right now we are on edge and want to know when this will all end.  How do we get through this? We go on the OFFENSE! In a time like this, we all need to ensure our basic needs are covered. How do you get those basics covered? 

  • Determine what you need to live on a monthly basis
    • Rent, mortgage payment
    • Utilities
    • Food
    • Car payment
    • Health Care 
    • All other bills

 

  • Are you eligible for unemployment benefits?
    • If yes, make sure you apply immediately
    • If no, are you eligible for other State or Federal assistance

 

  • Contact your Landlord or Mortgage Company
    • Ask for a deferment or forbearance for your monthly payment
    • Determine what option works best for your situation
      • If you need HELP please call us at (812) 777-5850 or email us at Ryan@truvest.co. Free of charge! 

 

TIP: Deferred/forbear payments-Options

  • Deferment- Could be moved to the back of your loan or rental agreement-Extended terms
    • Could increase your monthly payment
  • Forbearance- You will not have to make payments for a period of time
    • Payments can be moved to the back of your loan OR
    • The payments will be added to the balance of your mortgage or rent.
    • This option could increase your monthly payment
  • Contact other creditors
    • Ask if they offer deferment/forbearance/hardship programs

 

Next Steps: Side Hustle

 

Stay tuned!


TruPodcast-Corona Help Day Three

Day Three

Today, I wanted to talk about how things are going with TruVest and how we are reaching out to other small businesses to see how we can help. This virus is taking the life out of our economy, but it does not mean you cannot still thrive. If you are a bar, restaurant or other retail company there are other options available to you via social media. If you are a business that is struggling and need some assistance with your marketing please reach out to us directly at (812) 777-5850. We can help you create marketing campaigns that can drive traffic to your website or generate orders. We will run one social media campaign FREE OF CHARGE for you. If you need assistance in other areas of your business we will connect you to one of our partners that specializes in that area. Stay safe and healthy out there and I look forward to speaking with you in the near future!


TruPodcast Episode 2 Chasing Happiness

In this episode, I talk about how the Corona Virus has and will make HUGE impacts on our economy. And how we can use common sense when it comes to protecting ourselves from getting it. The first thing we need to do is to stop raiding stores for basic supplies! The world is not coming to an end, and you do not need a lifetime supply of toilet paper, paper towels, and top roman. The panic that we are displaying is just crazy, and when we start using common sense we will start seeing things change for the better! With all this panic going on there is a huge group of people that are being impacted by this virus. Small business owners all over the USA are wondering if they will be open when this all passes. We need to band together and help each other out and find ways to support small business owners around our great country. We at TruVest will do whatever we can to help other fellow small business owners. We are here for you!


TruPodcast

TruPodcast-Chasing Happiness

TruPodcast Episode 1

We are excited to be re-launching TruPodcast. The TruPodcast is going to cover three life topics:

  1. Chasing Happiness
  2. Business-Real Estate included of course
  3. Failure- How it is not a four-letter word, and how we can grow from our failures

In this episode, our guest is Alex Burton the President of the Evansville City Council. We discussed what drives his happiness, and how it took numerous times to be elected to City Council (Persistence), and his passion for Evansville! Hope you enjoy and please subscribe!


Buying a Home can be Overwhelming.. But You Have a Friend in the Business

YES… it is possible to buy a home for your family, even if you do not know where to start! We are here to guide you.

 

Buying a home can be overwhelming and there are so many things you have to do before you can get your keys to your home. 

 

The very first thing you should do is find out what your credit score is. If you do not know what your score is you can get a copy of your report for free from annualcreditreport.com

 

Once you have your report look at the following items:

  • Locate and know your score
  • Are there any errors? For example Payment history, balance, date opened/closed
  • Do you have any collection, charge off or judgment accounts?

 

If there are any errors in your credit report you should dispute them to the credit bureaus. We found a free app that allows you to dispute your errors all in one place. The app is called UpTurn. We are still testing this app, but thus far we are quite pleased with the app. And you cannot go wrong with FREE!

 

If you’d like to talk to us about purchasing your first home, just leave a comment or send us a message! 

Get Your Free Guide:

How to Overcome The Four Obstacles That Are Holding You Back From Home Ownership!