My guest, Ali, has had a successful technology-related business in the Bay Area for 28 years.
In March of this year they were forced to stop operation and close their offices. They’ve worked hard not to let anyone go and have not had to yet, but it took enlisting their savings and the PPP loan to continue to make payroll and keep their staff. But now that it has run out they don’t have much left or many options.
They are struggling to keep their company going. Right now they expect no further help from the government. This makes it impossible to plan anything because there is no information on what is next.
He also talks about his mortgage. There are too many unknowns causing stress for Ali and his two kids in college.
If you turn on the news, you might hear something like “the recovery is slowing down” but business owners are in a similar boat as Ali.
Servicers seem to be willing to give people a forbearance but not willing to share what will happen at the end of the forbearance.
I called Ali’s servicer on his behalf, was put on hold for 45 minutes, and hung up on. Called back, the same thing. Finally, I had to ask not to be put on hold in order to even speak with them.
Share this podcast to let people know what others are going through. We need to hear that we are not alone and others are going through it with you as well.
