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Disclaimer: I am in no way a financial advisor or claim to be one. This article is simply a perspective on how to look and approach this uncharted time. For official advice please contact the SBA or a local financial institution.

Coronavirus (Covid-19) is affecting everyone and everything. Some businesses are being hit extremely hard and others are thriving. In order to help those Less Fortunate businesses the government has put together a few different loan programs. I’m going to talk only about the PPP (Paycheck Protection Program) Loan at the moment.

If your business is struggling to make payroll, pay rent and utilities etc. It’s foolish to not apply for some of the government loans. Take advantage of the help that is being offered. But, what about those businesses that are right in the middle? Whose sales are basically even with where they’ve always been? Should these businesses still apply for the PPP loan? Here are a few practical tips to help you decide.

WHO (Should Apply)

I’m a huge proponent of doing what’s right and ethical. If your business is thriving and you are in no need of any financial assistance, don’t apply. If for some reason your loan were to be approved, you’re taking money away from another company that really needs it to survive.

However, if your sales have been affected because of the Cornoavirus (Covid-19) in any way, APPLY! It’s a no brainer. For example, a client of ours has definitely been affected and their sales are down. Can they still afford Payroll, Rent and Utilities? Technically yes, but they will absolutely burn cash the next few months. Will they go out of business? Again, technically yes if the quarantine and the effects of the virus last too long. Their sales are down ever so slightly by about 5-10% from last year. To err on the side of caution and to make sure they for sure can continue paying employees, rent, utilities etc, they applied and were approved!


THIS LOAN IS 100% FORGIVEN as long as you spend it on Payroll, Rent, Utilities and Interest in the 10 weeks following the loan approval. Anything you don’t spend after 10 weeks gets converted into a loan at 1% with 2 years to pay back! No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees. It’s almost free money!

You want to make sure you position your business so that as we come out of this quarantine you’re hitting the ground running.


In order to apply for the PPP loan you have to go through an approved SBA Lender or a local bank/credit union. A local bank will walk you through the process and hand everything for you. To fill out the Application takes less than 10minutes. 10 minutes that could save your business and position it for amazing success!

You can visit:

For more information and to start the application process. 

Whatever you do, don’t wait! There is only so much money the government is loaning out and once it’s used up, it’s gone. Time is of the essence!

Contact Barrel Aged E-Commerce

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