All Forum Posts by: C. Scott Forrest

I applied for the $10K grant on March 30 and have heard nothing. I called over the weekend and they said it had been changed from '3 days' to "days". She wouldn't commit to anything else. I hear the website has also been changed from '3 days' to 'days'.

I applied for the standard Disaster Loan the day Washington was deemed a disaster (March 22?), so a while back. At that time you could still call in and talk to people - those days are long gone.

FYI - I received my loan document package yesterday for a normal SBA Disaster loan (haven't heard back on the grant application).

Someone asked previously how you indicate how much you would like to borrow.  Answer: you don't.  They approve you for a certain amount and then you take whatever portion of that amount you need.  I believe mine is standard: 3.75%, 30 years, first $100 payment due 12 months from loan date.

Good luck everyone.

I hate to say it, but I don't think anything's happening unless you are a company with employees.  Sole proprietors who rely 100% on Airbnb income, and who do not have employees, are screwed.  The rest of you should be okay, but it may take some time to get your grants and loans.

I was very upbeat about this until recently.  If any sole proprietors with zero employees have better news, please share.  I could certainly use some good news, as I've also been denied unemployment by the state of Washington because I did not get paid by an employer last year.  Duh.  So the government is kind of....'not telling the truth'?

When I entered my lost rent, I specified through July.  My rationale was that expecting zero rent through July was reasonable and the number was well over the $10,000 grant amount.  I filled out the online application on March 30 and immediately was given a case number.  I called the SBA disaster loan number today and the person who answered told me that their system couldn't even let them enter a case number to check status.  She said "we hope to be able to do this in the near future" and when I pressed her as to what the "near future" meant, she said maybe in the next week or so.   So don't hold your breath waiting for an SBA disaster grant.

Regarding the $20,000 3.75% SBA loan I applied for previously,  the person who I sent the streamlined form to notified me what the terms of the loan would probably be, and that a case manager would be assigned.  A case manager sent me an email a few days later telling me that a loan application with terms was being mailed to me.  That package was sent out Thursday according to her.  I guess I'll get it today or Monday.  This is NOT a PPP loan, so I can't expect anything to be forgiven and the rate will be 3.75%, not the 1% that the Treasury Secretary states in the task force meetings - 1% is for PPP loans, and if you don't have employees what I'm reading says you can't get the PPP loan.  Perhaps I'm wrong about that?

Good luck everyone, and stay healthy.  I have decided over the last four weeks that I actually prefer being 6 feet away from people!!!  But talk to me all you want.

I applied on the internet and someone called me and sent me a form to fill out.  Then they called again and explained the loan to me.

Hi Roy,  Wow - that's a long queue!!!  Sorry, but this site does not allow phone numbers to be posted.

I wanted to add that to get the normal loan with usual terms (3.75% interest, no payment for 12 months) the person helping me just wanted to know my gross revenue for the year 2019.  She asked if I had done my taxes and I said "no", so she figured out the loan based on the numbers I gave her.  I believe they are under direction to make this as easy as possible, so don't have a heart attack when the usual red tape doesn't show up.  I've also been finding that EVERYONE is nicer to deal with right now.  It's amazing to see what we are capable of in tough times.

Hi David,

I just found this site and wanted to give an update of my experience.  I applied for an SBA disaster loan for my downtown Seattle Airbnb (condo), as soon as Washington State was declared a disaster state.

Today I talked with someone at the SBA and have been approved for a $20K loan.  Paperwork coming soon, along with a case-worker to discuss details with.

Interestingly, I was sent a form Saturday that included a place to indicate the financial impact of the disaster.  I gave an estimate of lost Airbnb revenue from March 12-June 1.  And also for June 1-August.  During the first period alone I will lose $7-10K in revenue. June-August is higher.  The person I spoke with said she just needed my gross revenue for 2019 in order to determine loan details.  Nothing was said about a grant, although I provided information that could have been used for that.

I assume they'll be ready soon to process those grants, and I can discuss at that time, but for now the person I discussed this with at SBA had no idea about grants - only taking information to process loans.

It really gets old hearing politicians say they will make us "whole".  That's just not possible under any scenario other than people going crazy this Fall to make up for their lost travel opportunities.  Cross your fingers.

Thanks for this discussion!

Scott