the CARES act runs out of money this afternoon.
According to covidloantracker.com, 5% of applicants have received PPP loans, 3.5% have received EIDL grants.
I've filled out six PPP loan applications. Our EIDL application number is 57,xxx - the last one I saw was 1,192,xxx. The SBA sent us a nice email telling us that our EIDL grant wouldn't be $10k, it would be $1k per employee and since my wife pays herself through draws, that's $5k. Two different organizations have said our application is pending but one of them has a website that 502s when you try to update anything.
It's all a lie.
All of it. It's all a lie.
Fuckin' a solid week of paperwork - painstakingly copying reports out of Square into official IRS stationary because Who Run Bartertown and it's all a lie. There's $3.5T in loan applications for $350b in money.
I needed to believe this lie.
Someone on twitter pointed out that everyone's feeling good right now because we're in the eye of the hurricane - the short-term pain has passed overhead and all the damage and destruction it hath wrought are before us to measure. But the long-term pain has yet to show itself.
I got in a pissing match with a couple realtors over in the town's facebook group. Someone asked "is this a good time to buy a house?" And fuckin' of course it is. Just ask a realtor. One of them went as far as saying that the economy was down, would be down for the next nine months, but Seattle is strong so of course NOW is the time to buy. I mean fuck, the stock market is making money for someone, right?
Chase had given out $108b worth of that $350b as of last week and my bank wasn't even taking applications yet. Then they said they'd email us when they were, but they didn't, and their window was closed 24 hours after they said it was open.
Speaking as an actual small business, actually doing healthcare, giving babies their shots and keeping women out of maternity wards so that there's more room for COVID patients?
None of this shit is trickling down to me.