[JustAnotherFan]

First time unemployment claims were "down" to 6.6 million.  That puts the cumulative three week job losses at around 16 million or about 10% of the work force.  The Dow Jones is up 450 points.  Go figure.

BC

Better than I expected/feared. A lot of small businesses are holding on to employees to qualify for the PPP loan forgiveness. That should hold, IF we figure out how to effectively reopen the economy.

I can assure you that a lot of small businesses will be going out of business having been unable to access the 'help' the government was offering small businesses.

My anecdotal experience:

Told to prepare to go on Friday during the day. Sat by the computer all day waiting to apply immediately as EIDL had proven that if you weren't first in line you could likely get locked out (gives advantages to larger companies with administrative and finance roles). So there I sat. Got emails promising they would open the application eventually but no indication on when. I contacted them on multiple mediums asking what was up, and they told me to keep waiting.

Saturday rolls around and now the bank is saying to not wait on PPP and to apply to any of the other SBA loans available. What? What about the PPP you got us all hopeful for?

Saturday evening they send an email saying they are opening applications up for select clients to 'test' the system. Of course those select clients are the ones with the largest accounts and most products.

Sunday morning I can finally apply, and do so within 30 minutes of being able to.

Then I read that the prior applications already exhausted the available funds multiple times over. Pretty sure it is first come first serve.

This is not me whining that I am not getting mine. I expected nothing and it looks like that is what I'll probably get. We did the right thing and shut down to support physical distancing a full three weeks before the governor gave the statewide directive. Oh well.

[JustAnotherFan]

First time unemployment claims were "down" to 6.6 million.  That puts the cumulative three week job losses at around 16 million or about 10% of the work force.  The Dow Jones is up 450 points.  Go figure.

BC

Better than I expected/feared. A lot of small businesses are holding on to employees to qualify for the PPP loan forgiveness. That should hold, IF we figure out how to effectively reopen the economy.

I can assure you that a lot of small businesses will be going out of business having been unable to access the 'help' the government was offering small businesses.

My anecdotal experience:

Told to prepare to go on Friday during the day. Sat by the computer all day waiting to apply immediately as EIDL had proven that if you weren't first in line you could likely get locked out (gives advantages to larger companies with administrative and finance roles). So there I sat. Got emails promising they would open the application eventually but no indication on when. I contacted them on multiple mediums asking what was up, and they told me to keep waiting.

Saturday rolls around and now the bank is saying to not wait on PPP and to apply to any of the other SBA loans available. What? What about the PPP you got us all hopeful for?

Saturday evening they send an email saying they are opening applications up for select clients to 'test' the system. Of course those select clients are the ones with the largest accounts and most products.

Sunday morning I can finally apply, and do so within 30 minutes of being able to.

Then I read that the prior applications already exhausted the available funds multiple times over. Pretty sure it is first come first serve.

This is not me whining that I am not getting mine. I expected nothing and it looks like that is what I'll probably get. We did the right thing and shut down to support physical distancing a full three weeks before the governor gave the statewide directive. Oh well.