Lawmakers on Capitol Hill are rushing to pass legislation to replenish emergency funding for small business owners and independent contractors. Meanwhile, you’d be wise to think about other measures you can take to shore up your finances. NAR Treasurer John Flor offers a few timely tips to get you started. And don't miss these tips from two certified financial planners who spoke with REALTOR® Magazine. Then, turn to the Center for REALTOR® Financial Wellness, which will host a free webinar Tuesday at 1 p.m. CT about making better financial decisions during a crisis.
Behind the scenes, the National Association of REALTORS® is working to ensure continuation of the Small Business Administration’s Paycheck Protection and Economic Injury Disaster Loan programs. (Check out this nifty infographic that explains the two programs.) Days before the programs ran out of money, NAR sent a letter to Congress urging additional funding. Lawmakers now are on the cusp of approving more cash flow, including $310 billion for the PPP and $60 billion for the EIDL.
Will you be able to get an SBA loan when the new funding is approved? Learn how two real estate professionals secured PPP loans in the first round of funding.
For the latest on the pandemic’s impact on real estate, keep monitoring NAR’s resource page at nar.realtor/coronavirus. And if you aren’t a regular subscriber to REALTOR® Magazine’s Daily News e-newsletter, sign up here to stay informed. (Login required.)