COVID-19 Economic Injury Disaster Loans and Advance

The Covid pandemic has caused severe economic disruption which impacted businesses across the United States including those involved in publishing the tabletop roleplaying industry. Particularly hard hit are those of us who make a lot of our sales from conventions. I am personally am out a significant amount of money as result of Garycon being cancelled and North Texas Con being held on a restrictive basis. But my plight isn't hard as others impacted by Covid-19.

During the early days of the pandemic, Congress passed a bill that made the entire United State eligible for disaster relief. This includes small businesses. You can read for yourself the various options the small business administration has for disaster relief here.

One of the things offered is the ability to apply for a emergency grant and a loan. When I saw this being made available in March I immediately applied. Then I didn't hear anything for a long time until the middle of April. The Small Business Administration approved my grant and sent me a $1,000. Which was slightly more than I was asking for. As near as I could tell the SBA simply looked at how many people were involved and multiplied it by $1,000. In my case that was one. The SBA will approve grants of up to $10,000.

Keep in mind these are grants not loans that have to be paid back. It not free money either. You have to have filed taxes either as a corporation or using a Schedule C profit or loss from business attached to your personal income tax form.

Now I didn't write about this because shortly after I received the money the SBA closed the application process for all business other than agricultural. Apparently the flood of applications was so great they they fear the program would run out of money without fulfilling the ones they had.

The good news they reopened the program for all small businesses.
If your publishing or game business was impacted you can apply here.

The process doesn't end with the grant. Eventually they will send you a loan offer. Again appears to be based on the number of people involved. However this is a loan that has to be paid back over 30 years at 3% interest. So keep that in mind if you get into this part of the process.

Hope this help and stay safe. I wasn't expecting much and was pleasantly surprised to have received the grant. I feel this will help many of us who have lost sales as a result of the pandemic.

Update
Matrox in the comments points out an aspect of the process that I forgotten about.

Anyone else out there who this might help, the process is very easy, the only quirk is you need your total gross receipts and cost of goods sold from 2-1-2019 through 1-31-2020. If you gather that info ahead of time and have your EIN/SSN handy you should be all set.

Note that you can get most of your gross receipts and cost of good sold from your corporate tax return or your Schedule C. You will have to figure it out for the month of January 2020.