April 18th Poll: CARES Money Starts To Get To Business Owners In Need

Here's what we've learned from this week's survey of over 16,000 business owners across the U.S.

Where's The Money?

Earlier this week, the U.S. Government stopped accepting applications for two key CARES Act Relief Programs.  For the business owners who got in under the wire, 70% are in a state of limbo wondering whether or not their applications will be accepted and 15% are waiting for the funds to arrive. 

44% Of Small Businesses Close Doors Due To COVID-19 

With 98% of business owners seeing 25% or greater impact on their businesses, 44% of businesses have closed their doors.  However, for those with closed doors, the vast majority are saying: "I'll Be Back!" That's the #SmallBusinessStrong spirit.  

Here's Why Some Small Business Owners Didn't Apply 

For those who’ve decided not to apply, 36% didn't feel they qualified for relief. Reading the comments, the most common answer was because they were solo entrepreneurs, independent contractors, or self-employed. 

This was disappointing because as we found in our discussion with Bob Nelson from the Small Business Administration, they were eligible.

Another 20% were working on applying but missed the cutoff.  

Please let us know your status regarding the CARES Act loans, sharing what your experience has been so far. #SmallBusinessStrong