Today, Jason interviews Jessica Mah, founder of inDinero. Tune in for pro-tips on loan approval for PPP & EIDL. How can you optimize your time with loan delays, and get ahead of the game? And, don’t forget to prep for the end-game of these loans, will they be forgiven? Follow the rules and we shall see.
[1:30] Jessica Mah, founder of inDinero, helping entrepreneurs run better businesses
[2:50] PPP has run out? Only 6% of all applications have been approved by the SBA and funded.
[3:15] The SBA is saying the best option is to use the bank you are already with, although Jessica has seen more success getting a loan through smaller regional banks
[5:15] Have you seen success in getting loans with brokers?
[7:30] Every bank is accepting PPP & EIDL applications even though they’re both on hold due to running out of money
[10:45] How can you be successful at getting your slice of the bailout pie?
[14:30] Pro-Tips: Show your work; have an excel spreadsheet that shows how you came to your figures
[18:30] How difficult is the one-page application?
[20:00] The Magic Question, “What is all of the information you need from me in order for the bank to formally process my loan application and submit it to the SBA?”
[22:10] This loan could be forgiven if properly played out
[23:00] Encouraged to apply for PPP & EIDL, but PPP is the better of the two options for covering big payroll sheets