How To Sign Florida Banking Document

How to industry sign banking florida document fast

before we get started let's check out the links in my description we all want nice things we want the car we want a house we want a high limit credit card but if you don't have at least a 680 credit score you're not even in the game so click this link here to know where you're staying and get your free credit scores from all three bureaus that will be experian transunion and equifax and also get your reports if you would like to be free and become financially independent through entrepreneurship click this link here to be free if you like to get cash back which is a discount during shopping please click this link here to see my favorite cashback sites and if you enjoy the music you hear in the background please click the link here and subscribe to it's oasy [Music] hello everyone welcome back to community wealth as you can see on the screen today we're going to be completing the new ppp loan application through the nav website and the nav uh nav is in partnership with smart biz which is where i'm going to be doing the application at all right so as you see here it says apply for paycheck protection program ppp loan i pretty much did a mock one earlier so i kind of know what i will be getting so i'm just gonna enter the information on here and let's get to it by the way if you have a business just go to the nav website to do this and uh it'll be right there it'll be under the covet relief what it's a covert relief i believe it's a covert relief program or whatever and you know you click that and this will pop up all right so we're gonna start here right let's go with this real quick all right so you put your name it'll ask for your business name email address make sure it's the one you use for your business phone number the type of business all right have this drop down you have corporation independent contractor llc non-profit sole proprietorship tribal veterans organization and you have the loan amount again as like i mentioned earlier i kind of pretty much know so this is just an estimated loan amount as it says here this is only an estimated loan amount to get your application started it does not impact your loan approval we help calculate we help calculate your exact loan amount later in the application process here this is the streamline process is what they say so it'll it's it's not a full app it's streamlined to help you get through it faster okay all right let's go ahead go through it remember this is smart biz through uh nav.com all right okay i filled all of that in here's my estimated loan amounts and i'm going to accept the terms i'm going to continue to pre-qualify okay screen came up what it told me to click let's get started so i'm gonna go ahead and go with it all right so this is my first time doing this i have no idea what's going on this is my first time so i'm going through this with you guys so we're going through this together and you will see the ins and outs and you'll be able to try to you know do this yourself through the nav.com website if you guys don't know much about nav nav is mainly for businesses so if you have like a like i said llc or corporation sole proprietorship just sign up for nav all right you can sign up for now even if you don't have a business because they do show your personal information but you know it's mainly for business that's what nav is for it's for business okay so again let's go ahead continue as you see up here it says my loan application it says for 5400 that's my estimated i know it's going to be around that so did you get but did your business get a paycheck protection program ppp loan last year if you received a ppp loan before whether through smart bids or elsewhere you may still apply for a second ppp loan i did not get a first draw alright so i'm going to go ahead and click no second question when the mllc gets started i want to say when did i start this 2018 so two to five years ago all right what is your business industry you don't see an option that is perfect for your company please select the closest option you will provide the exact industry further along in the application so let's see what they have here so i do several things let's see if they got me in here so let's go up here mr having business services agriculture construction education financial services health care and social services holding companies hospitality and food service manufacturing mining carrying oil other services repaired personal care religious professional services public administration real estate recreation entertainment arts retail trade technology publishing and telecom transportation warehousing utilities wholesale trade man it's a good question because i do several things oh man okay okay well man because this uh this my tax returns for 2019 was basically my rideshare uber and lyft and i did do a little bit of my um my e-commerce on there as well i did a little bit it's one wasn't a whole lot the bulk of it was uber and lyft but i did i do have amazon and ebay on there so man this is gonna be hard it's gonna be tough they say the closest thing so right now for 2020 it's mainly retail trade usa e-commerce you know so [Music] man i guess i'll go with this because i'll go with this the primary business address okay so i got that it's a business address in there so now we're gonna go with how many employees do you have just me great let's save your progress please create a password okay who owns 20 or more of nml lc okay on the previous screen it showed that i qualify for ppp loan so i'm gonna go ahead and enter some information here some screens i'm skipping actually i'm editing the video so i'm skipping some stuff because it has a lot of uh personal information and information that of course i don't want to put out there so of course it might look like i'm skipping here and there it's like there's some stuff missing but that's because they're asking for a personal information so i'm editing and taking that stuff out alright so let's go with the financials so next you will need to provide a provide a few documents for your business and its owners these documents will help us understand your business financials and calculate how much your loan will be approved for all right so here in financial documents 25 complete the application so i'm going to continue we'll do a payroll analysis here payroll analysis in order to finalize your loan amount let's determine your average monthly monthly payroll amount first to do this complete the following steps in the next screen you'll select one of the listed documents that we'll use to calculate your average monthly payroll amounts next we'll help you find the information within the selected document so you can enter the correct payroll amount will automatically calculate your loan amount for you once you've entered the required information simply upload your document into our secure system for verification this will take approximately 10 to 15 minutes so click begin business info please tell us a few more details so we can personalize your instructions for your payroll calculations what is your business entity type llc how many w-2 employees does your business have you're a business and owner and pay yourself w2 wages include yourself as an employee into xero if you have no employees do not pay yourself w2 wages so zero what industry is your business in this is the equivalent of your six digit naics code your naics code doesn't exist in this in the list please choose the most similar option okay all right any of this stuff so let's scroll down a little faster let's go up from the bottom development research development all the consumer goods rentals recreational goods rental home health equipment none of that none of that no wireless no communications production distribution electronic shopping and mail order houses all other general merchandise stores warehouse clubs and super sensors department stores major house appliances mesh measuring okay don't see much on here but i'm gonna keep going through it because we got to do this part wow okay so [Music] four eight five nine nine okay here this is long so this took me at least about 15 minutes to go through all these to figure this out and this is the month and year i got started so now we're going to go to choose a document type please choose which documents you would like to use to determine your average monthly payroll amount application will help you provide the right information from the documents you select cares act report recommended if your business uses a payroll provider such as paychecks adp gusto or other similar company this is a great option for you because those companies may have reports that help with many of the calculations tax document use the business tech return you most recently filed this includes the 1120s and all this other stuff in addition you may also need form whatever okay text document continue we're going to go with the 1040 schedule c click continue on this page will calculate your loan amount by using your personal tax return 1040 schedule c one find your irs form 1040 schedule c if you are an independent contractor you must upload a 1040 schedule c do not upload a form 1099. this form is used to report income or loss from a business you operate it for a profession you practice as a sole proprietor step two enter the number from line 31 okay so they don't have the updated form here interesting they haven't updated this yet because actually either it's actually either form one let's say the line one or line seven okay so don't have it here so if i use this i have a negative amount so if i have a negative amount i'm not going to get anything so they have uploaded but they haven't updated this yet because line 31 was just it says net profit or loss so i'm gonna have definitely a loss and so i won't be getting anything so i'm gonna be done with this well see the problem is that with line 31 you'll be negative but with the new proposal the one i just went through that they haven't implemented yet you could use line seven or line one i'm not sure which one it is i saw an app a guy was using he used line seven but i watched another video a guy said you can use line one but until these banks or these uh websites update the application i don't know which line you're going to use but i know line seven will be uh the gross your net gross or your gross net or something like that no your adjusted grips are it'll be your adjusted gross income it's line seven line one is your gross receipts so your gross receipts mine is i guess whatever expenses that'll be your gross well i know it's mine it's the gross receipts mine is the cost of goods sold and it'll be the adjusted gross income which is line seven so you can either use line seven which is your adjusted gross income or you can use line one which is your gross receipts i but i have no idea until they update these sites with the application so i don't know which one you'll be able to use but again with your net profit or loss when you're lying 31 and you're negative or if you got a very low amount let's just say you only had like maybe 10 000 or something like that or 5 000 with mine you know i could say i was negative i mean it gets nothing i mean that's not even worth your time you know so i'll update this video well i'll update once this site updates their uh their application and i'll do a tutorial of what's gonna of the ending well i'll go through the whole thing again obviously but the results and how much i'll be getting back in ppp funds once they update the information on their site uh i'm gonna also do another because you can you can do multiple applications with different websites all right or different lenders you can do multiple multiple applications with different lenders and whichever want to prove you first you just go with that one so again i'm gonna go i might do paypal next uh i'll see what other ones they have i know about blue vine cabbage so i might do paypal next i've been trying to do navy federal but it seems like navy federal i can't get to their poll their portal for some reason so maybe never navy federal might have that update i don't know but i'm gonna do paypal so whichever one got this update i'm gonna finish that application and show you what the potential gonna be with the loan amount and again with nav and smart bids we're gonna update them in due time and hopefully within the next couple of days at the longest because uh from what i understand right now the ppp is only open till the end of march so and you gotta have your stuff in and approved by the end of march so we'll see how that goes again thanks for watching uh subscribe to the channel share like the video uh subscribe to it's oac check out the links in the description and yo until next time let's get this money