USA Hosts SBA loan for Disaster Relief

[Juan63]

We all know how little(none really) we have been supported by the mothership through this process, and many of us maybe in danger of losing our investments. Depending on your situation, you maybe eligible for a long term, very low interest rate loan through the Federal SBA program. My understanding is restrictions have be eased dramatically. I am applying to cover 6 months loss reservations. The worst they could tell you is no. The website is overloaded, please be patient. I was able to complete the application with no issue or slowdown at 4:00 AM.

https://disasterloan.sba.gov/ 

[Adam-and-Ike-0]

COGS for us (hosts) is $0... per my convo with an SBA rep right now.

[Adam-and-Ike-0]

Also, per SBA rep.... for Business Activity, select: "Miscellaneous Services" or "Hotels & Lodging" ... Then underneath for Detailed Business Activity you can select: "None of the below"

They said that you aren't going to get denied for choosing either and when it comes time for a loan officer to go through the details, they will at the time.

[Kay966]

Has anyone heard anything back from any banks for the SBA loan???

[Juan63]

@Kay966 I got an in process email and they checked my credit.

[Kay966]

Ok.  It isn’t credit based...correct???

[Juan63]

@Kay966 of course it is. It's a loan, even if it's forgivable. You should call your bank for your questions.

[Kay966]

Have you spoken to a banking representative yet? Also, when did you apply???

[Goose0]

which loan is best for $10k to essentially help out with mortgages on 2 condos, and bills etc?  

[Zachary139]

Hey @Goose0 did you end up getting this figured out? A friend and I are starting a company around lending amounts up to $50k based on your future bookings. I'm super curious to hear about your experience.