Life on the Edge: An Entrepreneur’s Story of Survival during COVID-19
Life on the Edge is my story about surviving COVID-19 as an entrepreneur and small business owner outside of Philadelphia. I started documenting the happenings of each day about two weeks into lock down so that when I look back on this time I will be able to remember it for exactly what it is.
My goal with Life on the Edge is to provide an inside look into the struggles that face small businesses during a global disaster. I hope that by sharing my experience I might help other entrepreneurs and business owners during this time.
In Episode 19, I describe the frustration I am feeling over the PPP loan program. The Payroll Protection Program has helped us to cover payroll costs and certain other expenses since the middle of April, and I am extremely grateful to receive the loan. My teammates are grateful, as well, as we are able to continue paying everyone during our covered period. I am frustrated, however, by how little guidance has been released to date about how the program will actually work.
Since I received funding in the middle of April, and because the program is very specific about when I can use the loan money - 8 weeks after funding - I necessarily have to make decisions today on how to use the money without knowing exactly how the loan will be forgiven. I am flying with limited visibility here and with my company on the edge, that is extremely uncomfortable. Tune in to hear what I, and other small business owners, need right now in order to survive this pandemic.