The Return of EIDL and New PPP guidance
On April 24 the Small Business Administration (SBA) announced they were no longer accepting new Economic Injury Disaster Loans (EIDL) until previous applications had been processed. As of yesterday, without any other communication since the program was first opened on April 16, there are reports that early applicants are receiving approval notifications with expedited amount confirmations and closing documents in SBA accounts accessed through https://covid19relief1.sba.gov/.
On Sunday, May 17, the SBA also released its paper calculator for determining forgiveness amounts with Payroll Protection Program loans. One key element includes comparing full-time equivalent head counts today with one of two base time periods, determined by the applicant. One base time period is earlier this year — Jan. 1, 2020 through Feb. 29, 2020 — the other base period is for a time frame going a bit beyond the second quarter of last year — Feb. 15, 2019 through June 30, 2019.
Google Reviews Are Back (Dated)
On May 17, we saw a surge in back-dated Google reviews going live, particularly for home service-related businesses. Lot of review replies to catch up on.
Starting on May 13, service businesses, lawyers and dentists are seeing that new Google reviews are being accepted. By Friday, email notifications for new reviews had returned, reported GatherUp, but it seems unlikely you’ll be notified when backdated reviews delayed by the pandemic show up unless you have 3rd party review management with notifications in place.
New Local Business Promotions for Facebook and Instagram Users
Facebook has introduced a Businesses Nearby feed that allows its users to see recent posts from local businesses, one of a few new features according to Search Engine Journal. Look for the #SupportSmallBusiness hashtag encouraging users to share a local business they love. Instagram released a Support Small Business sticker that will be added to a shared Instagram story.
GMB Support Links Added
Google My Business has introduced new fields for support links to solicit donations (through GoFundMe, following Bing’s lead) or to link to gift certificate sales for businesses verified by March 1 and that have a physical storefront.