To the Peerspace Host community-
During this time of uncertainty for many Peerspace hosts, we hope to provide you with helpful resources to navigate your options. Our goal remains to partner with our host community to give us all the best chance to come out of the COVID-19 pandemic on solid footing.
Easy SBA loan applications for eligible Peerspace hosts:
As you may know, the Small Business Administration has announced details around the Paycheck Protection Program (PPP) that allows your business to access up to $10M in funding, with record-low interest rates and possible loan forgiveness. Here are some of the highlights:
- Loan forgiveness: When you use the funds to pay qualified expenses such as payroll, mortgage interest rent or utilities.
- Low interest rates: Rates are fixed at 1.0%.
- Deferred payments: No payments for 6 months.
Peerspace has partnered with Womply, a verified loan agent for SBA 7(a) lenders, to help you get through the PPP application process as quickly and easily as possible. Womply has already accepted thousands of PPP applications. All PPP loans have identical terms set by the government so what matters most is how fast businesses get funded.
This service is completely free to small businesses. The Womply team is standing by ready to help businesses understand the process and access capital fast.
Lost income reports for cancelled Peerspace bookings:
Many hosts are working through the SBA programs, local assistance programs, or their bank on various financing options. During due diligence, your lender may ask you for proof of lost income due to cancellation of Peerspace bookings during lockdown periods.
Upon request, Peerspace is happy to provide you with a statement of cancelled bookings for your host account this year. Information we can provide:
- Your cancelled bookings by start date
- Original payment amount
- Can be grouped by each space on your account
In order to receive this report, please submit a request to our Customer Experience team who will deliver you a .CSV report. We will need you to send the request from the email address of the host account you are inquiring about. Please expect 24 to 48 hour turnaround time.
We want to keep you informed as the impacts surrounding COVID-19 continue to evolve. Please stay tuned for future updates, and continue to connect with other hosts on this forum. We are interested in hearing about how you are handling the lockdowns and the resourceful tactics you are putting in place to get through this period.
Thank you for your continued support. We are in this together!