The US federal government passed a coronavirus relief program that includes funds for small businesses and sole proprietors. However the rollout of the program has been very shaky.
Some banks are not yet accepting loan applications (SVB). Other banks have allowed customers to indicate their interest but closed applications after receiving too much interest (Wells Fargo). Both cases are problematic because many banks won't take new customers for these loans, so we are stuck with the non-performing banks we currently do business with.
In my case I have an LLC that comprises Textbelt and Quickchart. I managed to fill out Wells Fargo's "I'm interested in applying" form before they took it down, but am wondering if I should be exploring options with other banks or if I should trust Wells Fargo and wait a few days...
How are other small businesses/sole proprietors/contractors handling the PPP process?