Here's What You Need To Know Today
- PPP Forgivable Loan Program Status Update: Bank of America and Chase have both started taking applications from their existing customers only. Lendio is also taking applications to match SMBs with smaller banks. According to the SBA, 30,000 community banks were re-activated as SBA lenders over the weekend. As expected, there is already talk of the $350 billion running out, and Trump has responding by tweeting that he promises to ask Congress for more money if that happens.
- States like Texas and Ohio are beginning to lock down borders, requiring visitors to self-quarantine for 14 days. This trend might be a good thing in places where STRs are allowed to be open right now, as the mandatory quarantines will cause more STR demand.
- My Newest Blog Post: 12 Ideas to Stay Proactive in Your Vacation Rental Business During Coronavirus
China's STR demand has been coming back in March. It's also been reported that 86%+ of China's hotels are now re-opened. This is a good sign for the STR industry, as we look to China for a timeline on when certain aspects of life (and business) will get back to normal.
How are you being proactive in your business this week?
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-James von der Lieth