When Steve Sheldon learned that Congress had authorized a $15 billion grant program for companies that host live events, he felt relieved. With cash reserves at his Long Beach, Calif.-based EPIC Entertainment Group running low, a grant would help him to keep paying his two workers.
A month later, the Small Business Administration has yet to say when the program will launch, and Mr. Sheldon said he has been confused by eligibility guidelines the agency has issued so far.
Feeling that he couldn’t afford to wait for clarity on such issues, Mr. Sheldon instead applied for a potentially much smaller amount under a separate coronavirus aid program of forgivable loans for small businesses that is available now.
“At this point, it’s either accept funding now and keep moving forward, or two people would have to be let go,” Mr. Sheldon said.
