Government-Provided Financial Resources for Hosts

SBA programs may be available to you. Information on the programs are here.

  • The EIDL application is currently offline until the SBA clears their backlog of applications. Recommend checking daily. The most recent stimulus package includes an additional $60 billion for the EIDL program.
  • We’ve been getting mixed responses to the PPP program. It appears that if you use Schedule C to report your hosting income, then all is well. Those using Schedule E have gotten mixed responses. Some lenders say Schedule E income doesn’t qualify, others do. If we get an update from lenders known to process Schedule E income we’ll update the April 9th post.
  • The recommendation is that you consider applying for any funding you can get. You can always repay these loans if you end up with more money than you need and if the money turns out not to be forgiven. The safest option is to assume you’ll have to repay the PPP and EIDL loans, but use the money for emergencies or to pay down more expensive debt.   

If you have no or minimal other income, you should also apply for Pandemic Unemployment Assistance through the State of California.

  • NOTE: If you receive a PPP loan, and you wish to have it forgiven, it has to be used as “income.”  If you use the PPP funds as income, it may make you ineligible for PUA. You should do the math and determine which is the best option for you financially.

If your mortgage is backed by the Federal Government, then you may request a forbearance for up to 180 days or payment deferral. Call your mortgage holder and ask them what your options are. The Consumer Financial Protection Bureau has put together a Guide to coronavirus mortgage relief options.

The California Insurance Commissioner has ordered insurance companies to refund partial auto premiums for March and April. This should happen automatically but, if you have a car and haven’t received a refund, contact your auto insurance provider and inquire about the refund.

PLEASE NOTE: This is provided for informational purposes only and not as legal or financial advice. Please make your own inquiries and check with a professional advisor if you have any questions and before making any legal or financial decisions. Neither HSDC nor its officers is jointly or separately responsible for any action based on the information provided above.