In episode 303 of Financially Simple, Justin talks to Don Pippin of the Sunbelt Network about the Main Street Lending Program for Business Owners.
The Main Street Lending Program is a loan available to small and medium-sized businesses during the COVID-19 pandemic. In this episode, Justin and Don discuss what the MSLP is, who it's for, how it works, and the best use for the loan by business owners.
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TIME INDEX:
00:47 - The Main Street Lending Program
05:02 - MSLP Overview
06:57 - The 4 Types of MSLP: New Program
10:34 - Priority Program
13:52 - Expanded Program
14:24 - Non-Profit Program
14:34 - Factoring in EBITDA
15:10 - MSLP Requirements
16:51 - What is the Best Use of the Loan?
19:02 - What Makes a Business Not Ready to Sell?
22:18 - Summary
RESOURCES:
Financially Simple Educational Website
Subscribe to the Financially Simple Newsletter
NEW Book: The Ultimate Sale - A Financially Simple Guide to Selling Your Business for Maximum Profit
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BIO:
Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute’s Exit Planner Leader of the Year.
DISCLOSURES:
This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All
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