· Round 2 Funds May Last Longer

• · Most big corporations have already been funded (… and stolen funds intended for small businesses). So round two of funding this week should be comprised of smaller loans. So maybe, just maybe the funds will last longer if the banks do what they are supposed to.

· There will be another stimulus package.

• · And even though that package may not be funded until May or even June, it may include additional PPP and EIDL funding. And when those funds come through, those who applied now will be next in line to obtain those funds.

So, take action, be next in line, and get your PPP application in with your bank now. And check back regularly to get your EIDL application submitted at SBA.org too.

What Do You Need to Do to Get Your PPP and EIDL Money?

First, take a deep breath. You’re going to need a lot of patience. It’s going to be frustrating. You’re going to hit dead ends and seemingly go around in circles. Lenders will rebuff you and websites will go down. But what would you do for a couple thousand dollars? A few thousand dollars?

And for many gym and fitness business owners…

What would you do for tens of thousands of dollars?

Economic Injury Disaster Loan (EIDL) Next Steps

The SBA website has stopped taking applications for the EIDL money but I expect them to open back up due to the additional $60 billion in funding in the Phase 3.5 stimulus package mentioned earlier. A reminder, the EIDL funds are obtained directly from the www.SBA.org website (unlike the PPP funds which are obtained through banks).

Action Item: Keep checking back regularly, especially this week and on Monday, and apply as soon as you’re able. Here’s the link to the SBA.gov’s EIDL page.

And here’s the link to the main SBA support page in case they change things up.

I would try both links regularly.

Paycheck Protection Program (PPP) Next Steps

We’ve covered every step of what you need to do next for PPP funding in our article here.

But in essence you need to get off your butt, get in touch with a lender and start the application process or follow up on your current application until it’s fully approved and waiting for SBA funding. Your exact next step depends on where you are in the application process. Where are you in the PPP Process? We’ve broken it down step by step here. Keep pressing forward, your small business deserves these funds:

• · Need To Apply
• · Applied and No Response
• · Applies and Lender Needs More Information
• · Approved but No SBA Number
• · Have SBA Number but No Funds
• · SBA & Bank Approved but No Funds
• · Funds Have Arrived

Get Your Next Steps Guide For PPP Funding

Other Stimulus Options Besides PPP and EIDL

Now there are other options available and we’ve covered them in this post here but the PPP and EIDL programs mentioned here are the most time sensitive. If you end up not needing the funds you can always decline or return the money.

What are you waiting for? You, your business, your kids, and your grandkids will be paying down our national debt for decades to come. You might as well get a small share of the money while you still can.

Have You Already Had Success?

If you’ve already had success obtaining PPP or EIDL funds using our content we’d love to hear your success story.  Just email me [email protected] or use our contact us page.  It’s all confidential, but it totally lifts us up to hear of fitness pros across the nation having small wins amongst all the chaos happening right now.

Have a Question?  We Have Your Answer

If you have a question, even if you’re not our client, just email me [email protected] or use our contact us page and I’ll respond in 24-48 hours. As always, we’re here to help.

We’ve answered questions about these government programs from fitness business owners just like you in our Q&As here and here but now we’re asking that you answer our call to take action and get your government funds.

In the meantime, check out our COVID-19 Resource Hub where we’ve compiled our latest blog posts & YouTube videos along with third-party resources that we find valuable. There is some great stuff in there.

Stay strong fitness pro – we’re rooting for you.