106: How to Navigate the Small Business Administration (SBA-PPP)

*At the time of recording this episode, the Small Business Administration Paycheck Protection Program (SBA-PPP) was just announced. Since the airing of this show, it was also announced that the $349 billion program has already reached its funding limit. There is a discussion that the U.S. Government will authorize additional funding, so we encourage you to listen to this show to understand how to get through the application process.

In this episode of Silicon Valley Insider, Keith Koo’s special guests are Tong Qin, CPA of CFOs to Go and John Chiang, CPA retired CFO and independent financial consultant and advisor. Tong is the former deputy CFO of the Small Business Administration and also a Regional Director for the San Francisco Region. John is a former bank executive as well as the former Mayor of Piedmont, California and the former CFO of Asian Health Services. This entire show is dedicated on how to navigate the SBA-PPP process.

In the first segment, Tong and John explain what the SBA-PPP is and how small businesses can utilize this program to obtain much-needed support given the economic impact COVID-19 is having on small businesses.

In the next segment, Tong and John discuss how they have successfully filed SBA-PPP applications for their clients and the documentation required for a small business to apply. They give specific actions to take to make sure that your business is in the best position to apply for the SBA-PPP.

Immediately following this recording, Tong Qin did a webinar for Fiona Ma, the California State
Treasurer on how to apply for the SBA-PPP.

Keith, Tong and John end the show with a reminder that even though the initial program may reach its funding limit, it is important to keep abreast of government actions for further stimulus packages.