We were lucky enough to get the PPP, so we'll stay open until mid June. I talked with our bank and they bumped our mortgage for two months. We'll reevaluate at that point.
Demand-wise, it's been dead.
Just got our deposit today. I worked very closely with our local bank, mainly in making sure all our t's were crossed and i's were dotted. The $250 billion allocated loans ran out today.
Having a good relationship with a local lender was absolutely clutch in all this. As was pretty quickly...
Here is some additional info. Seems like all of us would be eligible for the $10,000 emergency advance which doesn't need to be repaid.
https://www.sbc.senate.gov/public/index.cfm/guide-to-the-cares-act
I'm in a college town (35,000 students). Students told that all instruction has been moved online and all University-related travel has been cancelled. Our cancellations are coming in fast and furious. We're about to get shellacked.
The economy of the entire town lives and breathes off the...
We are currently with a local bank, but am wondering if some of the bigger chains offer better deals for our business. We do a lot of credit card processing, but want to get away from that more. Was reading up about Zelle, but hardly know anything about it. I think we pay a flat fee of 2.5% on...
Our BnB is in a major college town and May graduation is a five-figure event over three days. We'll be renting out nine rooms. We plan to charge it at the start of the year (guests are aware of our policy). Credit card fees will be around $300-$400 for this. Thoughts on asking our guests to just...
It's one of the first expenses we had when taking over from the previous owners and we haven't looked back since. Once of the best decisions we've made.
Just finished our fourth month of running a B&B. Learning lots but still have a LOT to learn.
Guest books on Expedia and upon arrival, complains about finding a hair in her sheets. We promptly change the sheets and apologize. I don't think we verified seeing it. She also complains about the...
Have you ever run the cost of breakfast per room/person, or has that not been a need? When I did a rough calculation, the cost of food + labor help on busy mornings works out to more than $10/person.