How Speakers Can Benefit From the Stimulus, Unemployment, EIDL, and PPP
The Speaker Lab Podcast
The Speaker Lab
4.8 • 575 Ratings
🗓️ 10 April 2020
⏱️ 62 minutes
🧾️ Download transcript
Summary
Grant Baldwin and Josh Bauerle hosted a Q&A on Facebook Live to talk about how speakers can benefit from the stimulus and address your questions about the stimulus check, unemployment, EIDL, and PPP.
DISCLAIMER: We are not finance or tax experts. Please contact your financial planner or local financial institution for professional advice.
EIDL - Economic Injury Disaster Loan
PPP - Payroll Protection Program During the live stream, Grant and Josh discuss:
- Unemployment being extended to business owners and freelancers
- Two loan/grant programs for small businesses to take advantage of
- Which program is best for speakers to pay attention to?
- Are earning thresholds for the stimulus based on Billings or on adjusted gross income?
- How much unemployment can you claim?
- What is the timeline for unemployment payouts?
- How to apply for the EIDL
- Would speakers apply for unemployment? Or the grant? Or both?
- Can you apply for EIDL if you have a W-2 in addition to speaking gigs?
- What happens if you get denied?
- Being patient and persistent
- Do unemployment and IDL go off of W2 and/or K-1?
- Does past credit history (specifically bankruptcy) factor into EIDL acceptance?
- Do you need an LLC to apply for EIDL or can you apply as an individual citizen?
- Two placed to get financial help
- What is the PPP? Who is eligible?
- Discretionary power of banks in deciding who gets access to PPP
- How the PPP math breaks down on calculating what you’re eligible for
- Tips on selecting a financial institution to apply through
- What happens if the loan isn’t forgiven?
- Is the PPP looking at average gross or net profits?
- How to calculate payroll for a speaking business formed after the 2/15/19 date
- What to do if you started your speaking business on Jan 1, 2020
- Will interest accrues on the unforgiven portion of the loan?
- What happens if you posted a loss because it was a new business?
- Can you apply for more than one of these programs? Or do you have to pick one route to go?
- Talk to your financial institution sooner vs later to figure out what you qualify for and how to get it
- For the EIDL, do you need an EIN? or can you use a DBA?
- What’s a "qualifying expense" to have the PPP converted from loan to forgiven?
- Do “contractors” = “employees”?
- If you file as an S-Corp, but are the only owner/employee, are you still eligible for the PP/EIDL benefits of a Sole Proprietor?
- If approved for EIDL loan, can you take the advance and not take the loan portion?
- If you’re a sole proprietor with little overhead, is it better to apply for EIDL or PPP?
- Making it easy for the financial institution to process your application
- Do you have to payback the stimulus?
- Will the bank look at your credit score?
- Are you taxed on unemployment?
- Taking a tip from Frozen II
- And more
EPISODE RESOURCES
- The Prestige Journal
- Coronavirus (COVID-19): Small Business Guidance and Loan Resources from the SBA
- Video discussing the Paycheck Protection Program (PPP)
- Economic Injury Disaster Loan (EIDL) walkthrough
- Small Business Association (SBA) resources for EIDL and PPP
- Get Free Speaker Resources
- Book a Call with The Speaker Lab
- Calculate Your Speaking Fee
- Join The Speaker Lab Community on Facebook
- Subscribe on Apple Podcasts
- Subscribe on Spotify
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Hey, Fran, Graham Baldwin here. |
| 0:01.4 | Hey, what if I told you that there was a single marketing asset that you could use to book tens of thousands of dollars in paid speaking gigs before you even have a website? |
| 0:10.2 | Well, that tool exists. |
| 0:11.4 | And Dan Irvin, one of the speakers on our team, used it to book over $36,000 in speaking gigs without a fancy website or any social media presence. |
| 0:19.6 | Even better, we're going to teach you exactly how |
| 0:22.1 | to create that tool for your speaking business in under an hour. For a limited time, we're going to |
| 0:26.9 | be offering a free live training on how to build and use this marketing asset to start booking |
| 0:31.9 | paid gigs in just a few weeks. If you want to hear more, go to thespeakalab.com slash marketing. |
| 0:38.5 | That's what you got to do is go to the speakelab.com slash marketing and we'll see you there. |
| 0:52.1 | Hey, what's up, friends? Graham Baldwin here. Welcome back to the Speaker Lab podcast. |
| 0:55.3 | Glad you're here. |
| 0:55.8 | We are doing another bonus episode for you in the thick of this COVID-19 crisis and world |
| 1:00.7 | that we are in. |
| 1:02.2 | This is one of the more important episodes that we're going to be doing on this. |
| 1:04.8 | We're talking with our CPA here at the Speak Lab, Josh Bowerly, about the stimulus opportunities that exist for speakers. We talk about the stimulus checks that are going out to Americans. We talk about unemployment. We talk about the EIDL, the PPP program. Some of those are maybe things that you've heard before. Some of those may be like, I have no idea what you're talking about. We give a big overview. We do a ton of Q&A here. This is a really meaty, |
| 1:28.0 | meaty conversation about what speakers need to be thinking about, how entrepreneurs need to be |
| 1:33.8 | applying for, taking advantage of the opportunities that the stimulus provides. So really good stuff |
| 1:39.2 | here. I want you to pay close attention. Take notes. This is important for you to be paying |
| 1:43.4 | attention to them. All right. Don't stick your head on the sand. I do a little rant part way through. This is important for you to be paying attention to, all right? |
| 2:21.2 | Don't stick your head on the sand and do a little rant part way through. So, look for that. Let's get into this conversation with Josh Bowerley. Enjoy. Hey, what's our friends? Grant Baldwin here. Hope you're doing well. Hope you're having a great day. All right. So as you well know, hopefully by now, we've been doing a series of these conversations and interviews with those in the speaking industry talking about these unique and weird times that we are in here in this COVID world. And so today we wanted to talk about the financial things that you needed to be thinking about, specifically about the stimulus. Now, this is something that I'm sure for many of you that have been hearing about this. If you're like me, you're kind of like, what is this? Does this apply? There's two, it's $2.2 trillion. And do I get any of that or who gets any of that? How does that work? And so |
| 2:27.6 | especially for speakers, this is something that's really, really important. So I go almost exactly |
| 2:33.6 | two weeks ago right now when this was first starting to get close |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Speaker Lab, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Speaker Lab and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.