In this video, I talk about the EIDL loan program and how the SBA changed the rules of the program and won't be delivering on what they promised. Also, get your PPP application loan in as soon as possible! Well, even if you don't, and the program runs out of money, the government will likely just print more money and give out more loans.
Retail CRE Tenant update:
Most national retailer tenants are asking for rent concessions, even if they don't need it. Landlords should ask tenants what they are doing for themselves before the tenants come to their landlords asking for a handout.
Ironically, the businesses that we were all talking about that would save retail (the "experiential retail" businesses in the food, fitness and fun sectors) are the ones who are suffering the most in this pandemic.
Many tenants are getting creative with their business models and expanding to offer other services. They need to be creative in this time in order to survive.
We will get through this! Wash your hands, wear your face mask, and practice social distancing, and hopefully we will all be able to go outside again soon.
Link to the Economic Injury Disaster Loan Program:
(Now you are eligible for up to a $10,000 loan advance; $1,000 per employee)
SBA PPP Program information:
My video from last week explaining these two programs:
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