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
Comments (501-509)
Please sign and share this petition if you want Congress to close the PPP loopholes, recall loans/grants made to big businesses and others who weren't actually economically harmed by the CV19 shutdown orders.
I applied early and have not received a response. Not sure who the SBA is helping.
I had a problem with my bank not being ready , when inquired the loans , and once I did submitt my application to SBA a couple days later the money ran out so I am bk to square one with this
I applied the very first day the application was available but I haven't seen any relief. Trying to keep the doors open with one furlough and one employee still on payroll. #SmallBusinessStrong
We applied for an EIDL on April 4th and still have not heard anything back.
We have applied but have not received any calls, follow-up emails, NOT ANYTHING!!!!
Waiting to here back from the bank, they said they would call to walk us through the app
My company Campos EPC needs no free hand-outs; we are completely intact nationwide, everyone is working.
I was told from 3 different banks that sub contractors (1099) were not qualified, so instead of 50000 payroll, i had 1100. I qualify for 6500 in help, and its not worth the effort.