Welcome to The Evo Revo Podcast, where hosts Jason Everett and Doug Campbell provide their unique insights into the ever-changing landscape of the salon industry. In this episode, Doug and Jason take a deep dive into the second round of PPP loans. They discuss who qualifies for the loan, how to use the loan to stabilize and catapult your business, and how to be smart with the money you receive.
Key Takeaways:
01:50 - The purpose and overview of PPP loans
07:00 - Who qualities for the second round of PPP loans
09:05 - What defines a “quarter” for the PPP loans, the answer might surprise you
12:30 - The importance of having a relationship with a business banker
16:30 - Why having a coach through these times is vital
Quotes:
“More than likely there is going to be some extra cash with this that you can use for other things” - (Doug) (03:15)
This is your opportunity to go to bat with your accountant, with the SBA… to qualify for this second round of PPP”- (Jason) (08:34)
“This is an opportunity to stabilize your business and possibly catapult it into a much better position by later in the year” - (Doug) (16:05)
“Use it for the areas you need to use it for, use it in things that you can invest in the growth of your company.” (Jason) (18:10)