eSigning New Hire Press Release Made Easy

Esigning new hire press release

hello from freedom tax accounting we're an accounting firm where we have been providing quality tax and accounting services now for over 20 years uh we wanted to do this quick update on the new sba idle grant of ten thousand dollars which the sba finally released some information about it under was on their website late last night we are recording this video on january 20th and we always emphasize the date of the recording of our videos relating to idle or ppp because these programs are constantly changing so whatever we discuss today may change tomorrow but according to we wanted to share what the sba is telling everybody through their website how the new idol grant is going to work and i think that a lot of small businesses won't be too happy on the way the sba is designing this new ten thousand dollar grant at least this was not what people were expecting so this is the sba website we will provide a link to this page on the description of this video so that way you can read it for yourself the new idol grant is called the targeted idol advance it's up to ten thousand dollars and if you read this paragraph it says applicants do not need to take any action at this time sba will reach out to those who qualify so basically the sba is saying to us don't call me we'll call you and there's no application form there's no way to apply online you can't call the sba to apply the sba is saying that they will email those who they think qualify and they're going to reach out to businesses in two phases the first phase of emails they're going to send it out for businesses that already got the idol grant last year in 2020 but they did not receive the full ten thousand dollars so if your business got an idle grant in 2020 of a thousand dollars up to nine thousand dollars then you may get the remaining funds up to ten thousand okay now the sba is going to reach out to you and then you need to send them documentation and information to see if you are eligible to get the targeted idle grant advance now it says here that applicants may qualify if they meet two eligibility requirements the first one that your business is located in a low income community if you do not know how to find out if your business is in a low income community we did a video um uh yesterday on how to do it so you just have to click this link that we're putting in the top of this video or we're going to put a link to that video on the description of this video where we show you how you can find out if your business is located in a low income community so that's one thing that's one requirement the other requirement is that you need to demonstrate more than thirty percent reduction in revenue during an eight week period beginning march second now we still don't know how that's going to work or what's what you're going to compare that eight week period with what other date so we are expecting more guidance on this so that's the first wave of emails that the sba is going to reach out is for businesses that already got an idle grant in 2020 but they did not get the full 10 000. then you need to prove to them that you are located in a low income community and that you had a 30 reduction in revenue if you meet those requirements they will give you the remaining funds so you can get the full ten thousand dollars so that's the first wave then it says next the sba will reach out to those who applied for idle assistance before december 27th but did not receive the idle advance due to lack of program funding remember that the idle grant ran out of funds in july 11 of 2020 so all businesses that applied for the idle loan and grant from july 11 to december 27th they may have received the idle loan but they did not uh they were not able to get the ira grant because the grant was no longer available so that's the second wave of emails the sba is going to send out so all of the businesses that apply for the idle loaner grant from july 11th to december 27th of 2020 the sba is going to reach out to you once again you need to comply with you need to show them that you are in a low income community you can demonstrate that you had a 30 reduction in revenue and you have to have less than 300 employees if you meet that criteria then you'll get the full ten thousand dollar grant okay once again they are emphasizing was he the sba will reach out to you if you qualify they're basically saying don't call us we will call you now if you see here the idle advance which was the original program it says no longer available so these are the details for the new targeted idle advance i'm not too happy about it but that's the way they did it now if you add up the total funds that were allocated towards the new idol advance i think that they are going to come out with some kind of new grant again in the future but once again that's our speculation right now we're going to tell you what we do know for certain the targeted idol advance uh the sba is going to start reaching out to businesses that they think can qualify you there's no application online there's no application link there's no application form you can't call the sba they will reach out to you if you think if they think that you can qualify to get the remaining 10 000 grant that you did not get in 2020 okay so basically we wanted to do this quick video to bring you the latest information on the idol grant i know this isn't going to make a lot of people happy but this is the reality right so once again thank you for watching this video remember to subscribe to our channel and also watch the suggested video and share this information with other business owners if you think they can take advantage of this information once again thank you god bless you bye-bye