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 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!


Affordable Housing Project Aims to Revitalize Jacobsville Neighborhood on 44 News

Our affordable housing collaboration officially launched in Evansville, Indiana with Mayor Lloyd Winnecke and Evansville Promise Zone. We are thrilled to have such amazing coverage by 44News on how we are making an impact on families quality of life by owning a TruHome.

The Promise Zone and a company called TruVest are partnering to not only create affordable housing in Evansville but also create homeownership opportunities for the people living there.

Instead of knocking down homes, and building new ones, TruVest is renovating blighted homes in the Jacobsville neighborhood. At the same time, those who need affordable housing will have the opportunity to actually own homes instead of renting them.

This partnership will help provide first-time homeowners with the tools they need to keep their credit up, continue to pay mortgage payments and all the other things that go into owning a home.

TruVest co-founder Peter Bordes says, “We’re going to find a balance between what we renovate, and then what we do helping the land bank taking those empty lots, and then developing new homes on them, but always with the idea that we’re not looking to gentrify neighborhoods, and we’re not looking to make the prices go up. We want to be able to keep them in line with the integrity of the neighborhoods.”

Mackenzee Pagett and her two children will be moving into this first house within the next few weeks. She tells 44News Evansville she’s very excited being a first-time homeowner.


Evansville Promise Zone Partnership Announcement

If you are available please join us on Monday, February 11th at 1:30 pm CST to announce our new affordable housing partnership. The Promise Zone has formed a partnership with TruVest to rehab 25 homes in the Promise Zone in 2019. They are working with local realtors, the Evansville Land Bank and the Promise Zone to locate houses suitable for rehab. People with credit scores of 600 or more will be eligible for mortgages through Old National Bank (other qualifications may apply). If a person does not qualify for a conventional mortgage, TruVest will provide financing based on each individual situation. The press announcement will be at 723 East Oregon Street. Hope to see you there…