Wilbert Hamilton Offers Financial Advice on WBRC Fox 6 News Amid an Unprecedented Pandemic | Hamilton Wealth Advisors Founder Provides Key Insights for Small Business Owners When Filing for the Next Round of Pandemic Relief
Birmingham, AL– With the second round of the Paycheck Protection Program being launched, small businesses were happy to hear that this round would inject $284 Billion into the program. The government strategically designed the second round to be more impactful for small businesses. However, there were differences between the first and second rounds:
- Open to businesses that didn’t receive any aid or loans during the first round and those that did.
- Max loan was around $2 Million.
- Have fewer than 300 employees.
- Must show some type of drop-off in revenue during the 2019 and 2020 years.
With so many businesses missing out on the previous round of PPP loans, Montgomery native Wilbert Hamilton, founder of Hamilton Wealth Advisors, knew he had to provide guidance to the great people of the Yellowhammer State. He appeared on WBRC Fox 6 News to provide insights on where portions of the loans would have to go.
“Some knowledge on how to use it and when to use it. You still have to have 60% of it going toward payroll expenses in order to qualify for it to be forgiven,” Wilbert stated.
Being that this news segment took place during the opening of the second round, which was geared toward underserved communities and minority business owners, Wilbert was the perfect licensed financial advisor to speak on the matter. Hamilton Wealth Advisors specializes in providing financial advice to black and brown people in underserved communities, and with the guidance provided by Wilbert and news segments like these, many minority-owned small businesses got the information they needed to file for and receive the necessary aid to stay in business. Hamilton Wealth Advisors would encourage individuals who own and operate small businesses to always consult a licensed financial advisor to create a strategy for success before, during, and after an unprecedented pandemic.
After the fact, it was documented that 58,000 Alabama businesses applied for and received loans as part of the federal government’s Paycheck Protection Program.
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