...which might be helpful/reassuring to all of us who have partially or completely lost our income due to COVID-19?
I only have one employee - me. And as an LLC...I don't pay myself a payroll. What this means is I am NOT eligible for the Paycheck Protection Program. Therefore...I have applied for the Disaster Loan Assistance...which I DO qualify for.
I did this almost a week ago - within days of the signing of the stimulus package. I applied online via SBA dot gov. Thus far I have heard NOTHING. Not even an automated e-mail reply confirming they received my application. I'm trying to stay calm and chalk this up to what is certainly a massive backlog.
What I am wondering about is...if I understand what's being reported correctly...the PPP loans started processing today and that money supposedly will get paid out immediately...or within days. Yet...the Disaster Loan Assistance money doesn't seem to be on the same fast track. Ditto for the individual $1,200 payments for qualifying individuals. At last check...they are now saying we won't see those until around the end of April.
So.....what I'm hoping for in this thread is for any other small business owners here on CB to just share info or your experience. What are you hearing? What time frames have been communicated to you regarding when you can expect the $$$ you have applied for?
Thanks.