If we have a disaster (including COVID) and our business is suffering from no fault of your own there should be SBA grants NOT loans.
These business owners are enduring horrible expenses and losses at no fault of their own. Signing a loan right now may seem like a good thing to do but it is only a replacement help.
Speaking for myself I took the SBA Covid disaster loan and can barely make the interest payments. Things went from bad to worse in the hospitality business.
We are giving money to everyone in the world but ourselves and it is iur money.
Thank you for starting this thread. I am in the same boat. I took a SBA EDIL Covid Loan and $20,000 later in interest payments, I havent paid any Principal off the balance. Covid utterly destroyed the growth of my service business in holistic healthcare and Ive had to do whatever I could to keep the business afloat. Forgiving these loans would be a huge step in the right direction to getting us back on track. Thank you!
Female small business owner here. I have a 40K SBA loan from Covid that I will be paying off forever because I was under the impression that I did not qualify for the option that provided 100% relief for small businesses like mine, that many large
businesses took full advantage of that deserved to go to businesses like mine. Please consider forgiveness of these loans for those like myself.