Feedback on PPP & EIDL Experience

What was your experience like?

This survey is intended for Skagway businesses only.

We know the experience was far from perfect, but with the first round of funding lapsed for both the Pay Check Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL), it's important we provide feedback to improve the opportunity for small businesses if there is a second round. Please provide constructive feedback and comments.

This survey was brought to you by the Skagway Development Corporation. All answers will remain confidential and only used in a general report for a letter.

Question Title

* 1. Did you apply for the Pay Check Protection Program (PPP) and/ or the Economic Injury Disaster Loan (EIDL)?

Just PPP

Just EIDL

I applied for both

Question Title

* 2. Did you receive approval for funding?

Yes, PPP

Yes, EIDL

Yes, Both

Question Title

* 3. Was it easy to connect with a bank for the PPP or with the SBA for the EIDL after the new stream lined application became available?

Yes

Question Title

* 4. What bank did you end up applying with?

Question Title

* 5. If a second round of funding for the PPP and/or the EIDL becomes available, will you apply because: (1) you didn't get approval in the first round or, if you did get approval, (2) you need more funding?

Yes, I didn't get approval in the first round and so would apply in a second round

Yes, I need more funds

No, I have enough to cover my expenses

Question Title

* 6. What is your current projected revenue shortfall to cover your expenses if we do not get cruise ships until 2021? (Values provide better feedback)

Question Title

* 7. Which program worked better for you businesses needs? PPP or EIDL?

PPP

EIDL

Question Title

* 8. Would a subsidize loan be more beneficial than a low interest loan program (like the EIDL)? Ie loan amounts don't begin accruing interest or require payment for 1 year. At 1 year, principal payments are required but the loan amount doesn't start accumulating interest for an additional 6 months. Interest rate is a standard loan interest rate (not low-interest). This would mean interest wouldn't start accumulating until fall of 2021 or later. Similar program to the Federal student loans.

Yes; I could pay it off before my loan accumulates major debt

No; even with the 18 month interest deferral, I still couldn't pay it off quick enough to avoid major interest

Feedback on PPP & EIDL Experience

What was your experience like?

Question Title

* 1. Did you apply for the Pay Check Protection Program (PPP) and/ or the Economic Injury Disaster Loan (EIDL)?

Question Title

* 2. Did you receive approval for funding?

Question Title

* 3. Was it easy to connect with a bank for the PPP or with the SBA for the EIDL after the new stream lined application became available?

Question Title

* 4. What bank did you end up applying with?

Question Title

* 5. If a second round of funding for the PPP and/or the EIDL becomes available, will you apply because: (1) you didn't get approval in the first round or, if you did get approval, (2) you need more funding?

Question Title

* 6. What is your current projected revenue shortfall to cover your expenses if we do not get cruise ships until 2021? (Values provide better feedback)

Question Title

* 7. Which program worked better for you businesses needs? PPP or EIDL?

Question Title

Question Title

* 9. Do you have any additional constructive comments that could make applying for these programs easier in the future?