As part of President Trump’s emergency efforts to relieve businesses impacted by the coronavirus, low-interest business loans have become available. Because so many vacation rental companies have lost revenue due to coronavirus related travel cancellations, as soon as a coronavirus emergency is declared in your area hosts may be eligible for economic injury loans through the US Small Business Administration.
These working capital loans for up $2 million payable over up to 30 years are available for 3.75% for businesses without credit. To apply, you’ll need a personal financial statement for anyone with 20% or more equity in the business, the business’ financial statements and schedule of liabilities, as well 4506-T form for each of the owners and one for the company.
More information is available here
To see if a disaster has been declared in your area, click here
When ready you can apply here