We recently sent information on America’s stimulus programs to assist small businesses. As we reviewed them we realized they offer huge benefits for small businesses and opportunities for optimization depending on individual circumstances Let’s put this in perspective, the recent legislation by Congress is almost 3 times larger than the package passed in the depths of the 2008 financial crisis. It is intended to help both individuals and businesses survive the huge disruption caused by COVID-19.
While it may feel like you are trying to drink from a firehose as you digest everything, there are some real opportunities here. We are positioned to help you sift through what is available and what might be the most beneficial given your unique business and personal financial situations. One program provides emergency grants to meet expenses, another provides forgivable loans to help cover payroll, rent and utilities and another provides low interest loans that could allow you to refinance existing debts and reduce monthly payments. Don’t forget about the massively expanded unemployment benefits that are also available to your employees.
We know that some of you are truly hurting financially and/or emotionally from the world turning upside down. As planners we are uniquely positioned to provide you some direction on how you can benefit from these new Acts. We have attached a PDF that summarizes 3 of the main “Acts” passed in the last few weeks. Everyone should take advantage of this package in some way. Remember this money is available on a first come, first serve basis and we know many applications are already being submitted. We are here to help. Let’s have a conversation to discuss your individual situation and help you make an effective game plan. Give us a call or send us an email at your earliest convenience.
Stimulus Summary for Business Owners 04 03 20
Thank you,
Jim & Bobby
James W. Ronn, CFP®, CEO|Robert J. Phillips, CFP, President
Greater Midwest Financial Group, LLC
3222 Rice Street
St. Paul, MN 55126-3047
Phone: (651) 490-9790 Fax: (651) 490-9788
robert.phillips@greater-midwest.com
james.ronn@greater-midwest.com
Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Kestra IS and Kestra AS are not affiliated with Greater Midwest Financial Group, LLC or Five Star Professional.
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