What If You’re Not Eligible for a PPP Loan?

Nina KaufmanPivot & Scale, Revenue & Profits, VideosLeave a Comment

While there’s a lot of media attention paid to the Paycheck Protection Program, many solopreneurs may not be eligible – or may choose not to participate.

You need to look carefully at the eligibility requirements including the amount of compensation you can document, your business’s net profits, and the record-keeping detail required in how you use the funds.

You also need to honestly assess for yourself: Can I predict the cash flow needed to pay back the loan if the loan is not forgiven?

In this short video, I share four action steps solo and small firm owners can take during this uncertain time:

  1. Collect receivables
  2.  Reduce expenses
  3. Look for grants
  4. Connect and pivot

It’s hard to brainstorm alone. Head over to my Business Exponential Facebook page where we can hash out ideas together! Share 1-2 sentences about your business, what you offer, and the market you like to serve best.

As Helen Keller said,

Alone we can do so little; together we can do so much.

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