SJM_AskTheExperts_page 51_Region 3 . qxp_Pages 2 / 10 / 21 4 : 00 PM Page 1 S P E C I A L A D V E R T I S I N G S E C T I O N SPECIAL ADVERTISING SECTION ask the expert questions and answers BANKER LAWYER REAL ESTATE BROKER Is there still time to apply for a Pay - How do you spell Will ? T.E.A.M . Why is now the best time to sell my When it comes to estate planning , “ it’s not check Protection Program ( PPP ) loan ? home ? just about valuables , but about values ; not Yes ! This round of PPP is set to expire on Inventory is at an all - time low . It’s not if your just about principal , but about principles . ” [ Dr . March 31 , 2021 , unless the funding runs out home will sell , but how quickly and for how Barry Baines , “ Ethical Wills , Putting Your Val - sooner . As of now , more than half of the much over asking price ! With interest rates ues on Paper ” ] Transferring values and ideals , $ 284 billion appropriated by Congress re - being so low ( often under 3 % for a traditional in addition to your monetary wealth , is an mains available . 30 - year mortgage ) , the buyers ’ pool is out - important part of leaving a legacy . In other pacing the supply of homes for sale . There are words , what your children and grandchildren more first - time buyers , and many people Applicants that previously received a PPP inherit should be more than just real estate , “ buying - up . ” The inventory factor is also influ - loan can apply for a second - draw loan . To do the family business , or stocks and bonds , but enced by the volume of new home construc - so , they must have suffered a 25 % revenue the value of hard work , respect for family tion , which is currently down in our localized decline , but the SBA has made that test flexi - traditions and recognition of one’s heritage . market . Therefore , the normal economic ble : Applicants may pick any quarter of 2020 forces of supply and demand are making the in which their revenue was down by 25 + % sales market HOT . In the current Creating an estate plan that serves your compared to that same quarter of 2019 . If a market , list - unique needs and reflects your beliefs and business ’ annual revenue didn’t decline by ings are getting multiple offers , and I’m see - values requires a group 25 % between 2019 and 2020 , but a particu - ing closing prices as high as $ 25 - $ 30K above of skilled advisors lar quarter the asking price . ” If you’re considering selling , from a variety of disciplines . Sound estate meets that test , then that busi - now is the time to “ cash - in ” . My advice : Just planning is built upon a multidisciplinary ness can apply . get it on the market , even if you think it’s not approach among a group of professionals quite ready . You’ll be pleasantly surprised ! . that work together as a team , with clear First - draw loans are also available . As of the For those who can make it work , you may communication , established roles and a January 31 , 2021 data released by the SBA , want to consider temporary housing for a desire to work together cooperatively about one - quarter of the loans approved in year or so to ride out the market current and collaboratively . this current round of PPP were first - draws . highs . Then make a smart purchase as you No revenue - decline test applies if a business look to downsize or reinvest . Contact our pre - Our professionals are well versed in working has never had a PPP loan before . mier boutique real estate team . We can share with accountants , financial advisors and examples of the great selling success our bankers to provide each client the optimal It’s important to the SBA and to bankers that clients are seeing , and discuss helping you planning experience . We pride ourselves in there is access to PPP funds for minority , “ cash - in ” too ! Contact us today ! our holistic approach in planning for each underserved , veteran and women - owned client’s goals and circumstances to reflect in - businesses . For more information , please dividual values , principles and objectives . We contact PPP @ centurysb.com . appreciate the accounting , investment and banking professionals with whom we have As a career - long community banker , I’m re - had the privilege to work and look forward to ally proud of the nation’s community banks ’ expanding and building those relationships . fast adoption to last year’s PPP , which out - paced that of the big banks . I expect the same to be true again in 2021 . Century Savings Bank Romano Realty Capehart Scatchard Hanrahan Romano Dave Gina Yasmeen S . Khaleel , JD , LLM President Owner / Broker Renee C . Vidal , JD , LLM 1376 West Sherman Ave , Suite A Serving South Jersey Wills , Trusts & Estate Planning Group Vineland , NJ ( 856 ) 434 - 4050 ( 856 ) 234 - 6800 ( 856 ) 690 - 9105 RomanoRealty.com Capehart.com CenturySB.com SOUTH JERSEY MAGAZINE volume 17 issue 11 SouthJerseyMagazine.com | 51
