Small Businesses Want Help During the Pandemic — So Why Aren’t They Asking for It?

The coronavirus pandemic has been a roller coaster ride for many Americans. In particular, American businesses have been deeply affected by nationwide shutdowns and safety measures, forcing some to close their doors forever.

Fortunately, government assistance programs like the Paycheck Protection Program have helped sustain companies across the country. Not-so-fortunately, a surprising number of Americans aren’t requesting this aid.

A survey by Solvable in partnership with GOBankingRates revealed that 28% of small business owners have not applied for any government financial assistance in response to COVID-19. Moreover, 28% of full-time workers that were laid off or furloughed due to COVID-19 and 46% of freelance and/or self-employed workers have also decided to forego government assistance. At the same time, a bevy of big businesses like Shake Shack and Ruth’s Chris Steak House applied for government-backed PPP loans — many of which really didn’t need the money. In fact, after public backlash in April, many of these greedy companies were shamed into returning their loans.

If big companies aren’t shy to take government handouts, then why are so many struggling small ones passing up the opportunity? Take a look at the money being left on the table in your state.

Last updated: Sept. 14, 2020

Although it may seem silly that people pass up financial aid when they need it, it’s clearly not uncommon. Here are some of the reasons why people might not have applied for aid:

• They don’t think they qualify.
• They think it’s too time intensive.
• They don’t know about the assistance available.
• They don’t know where to start.

But there are multiple forms of government assistance that many different types of people and businesses can take advantage of. The following information is a state-by-state look at these government benefits, including the average PPP loan amount (when it was still available), the FEMA enhanced benefit amount and what residents of that state might make from Pandemic Unemployment Assistance (PUA).

If you need the money, here’s where to start.

• Number of PPP loans approved through August 8: 70,331
• Average PPP loan size: $88,801
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: Mid-September
• PUA weekly benefit available: $45 – $275

• Number of PPP loans approved through August 8: 12,087
• Average PPP loan size: $108,540
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: Late October
• PUA weekly benefit available: $56 – $370

• Number of PPP loans approved through August 8: 85,771
• Average PPP loan size: $101,237
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits started: Aug. 17
• PUA weekly benefit available: $117 – $240

• Number of PPP loans approved through August 8: 43,669
• Average PPP loan size: $76,334
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: Weeks away
• PUA weekly benefit available: $133 – $451

• Number of PPP loans approved through August 8: 623,360
• Average PPP loan size: $110,120
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits started: Sept. 7
• PUA weekly benefit available: $167 – $450

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• Number of PPP loans approved through August 8: 109,170
• Average PPP loan size: $95,287
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: Mid-September
• PUA weekly benefit available: $223 – $618

• Number of PPP loans approved through August 8: 64,629
• Average PPP loan size: $103,952
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: Mid-September
• PUA weekly benefit available: $198 – $649

• Number of PPP loans approved through August 8: 13,202
• Average PPP loan size: $115,194
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $133 – $400

• Number of PPP loans approved through August 8: 13,510
• Average PPP loan size: $158,815
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: N/A

• Number of PPP loans approved through August 8: 432,893
• Average PPP loan size: $74,502
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: Up to $275

• Number of PPP loans approved through August 8: 174,429
• Average PPP loan size: $84,206
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $55 – $365

• Number of PPP loans approved through August 8: 25,097
• Average PPP loan size: $98,771
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits started: Late August
• PUA weekly benefit available: $263 – $648

• Number of PPP loans approved through August 8: 31,056
• Average PPP loan size: $83,510
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $168 – $448

• Number of PPP loans approved through August 8: 225,409
• Average PPP loan size: $101,368
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $51 – $580

• Number of PPP loans approved through August 8: 83,246
• Average PPP loan size: $114,826
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: Mid-September
• PUA weekly benefit available: $149 or more

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• Number of PPP loans approved through August 8: 61,418
• Average PPP loan size: $83,439
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $203 – $481

• Number of PPP loans approved through August 8: 53,755
• Average PPP loan size: $93,592
• FEMA enhanced benefit amount available: $400
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $122 – $488

• Number of PPP loans approved through August 8: 50,655
• Average PPP loan size: $104,279
• FEMA enhanced benefit amount available: $400
• When FEMA enhanced benefits started: Early September
• PUA weekly benefit available: $180 or more

• Number of PPP loans approved through August 8: 78,866
• Average PPP loan size: $94,605
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits started: Aug. 26
• PUA weekly benefit available: $107 – $247

• Number of PPP loans approved through August 8: 28,309
• Average PPP loan size: $80,076
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $172 – $445

• Number of PPP loans approved through August 8: 87,007
• Average PPP loan size: $115,559
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: Late September
• PUA weekly benefit available: N/A

• Number of PPP loans approved through August 8: 118,392
• Average PPP loan size: $120,914
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: Up to $823

• Number of PPP loans approved through August 8: 128,159
• Average PPP loan size: $125,157
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $160 – $318

• Number of PPP loans approved through August 8: 102,352
• Average PPP loan size: $110,102
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $234 or more

• Number of PPP loans approved through August 8: 48,545
• Average PPP loan size: $66,115
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: Mid-September
• PUA weekly benefit available: $106 – $235

• Number of PPP loans approved through August 8: 95,599
• Average PPP loan size: $96,182
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits started: Aug. 25
• PUA weekly benefit available: $133 or more

• Number of PPP loans approved through August 8: 23,908
• Average PPP loan size: $74,469
• FEMA enhanced benefit amount available: $400
• When FEMA enhanced benefits started: Aug. 26
• PUA weekly benefit available: $184 or more

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• Number of PPP loans approved through August 8: 44,074
• Average PPP loan size: $78,110
• FEMA enhanced benefit amount available: N/A
• When FEMA enhanced benefits will start: N/A
• PUA weekly benefit available: $174 – $440

• Number of PPP loans approved through August 8: 45,771
• Average PPP loan size: $92,097
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: 4 – 6 weeks after FEMA approval
• PUA weekly benefit available: $183 – $469

• Number of PPP loans approved through August 8: 24,741
• Average PPP loan size: $103,605
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits started: Early September
• PUA weekly benefit available: $167 or more

• Number of PPP loans approved through August 8: 157,405
• Average PPP loan size: $110,289
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $231 – $713

• Number of PPP loans approved through August 8: 23,033
• Average PPP loan size: $98,502
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: Mid-September
• PUA weekly benefit available: $133 – $320

• Number of PPP loans approved through August 8: 348,870
• Average PPP loan size: $110,929
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $172 – $504

• Number of PPP loans approved through August 8: 129,289
• Average PPP loan size: $95,044
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $15 – $350

• Number of PPP loans approved through August 8: 20,510
• Average PPP loan size: $86,569
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $43 – $595

• Number of PPP loans approved through August 8: 149,144
• Average PPP loan size: $124,261
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: Mid- to late September
• PUA weekly benefit available: $134 – $480

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• Number of PPP loans approved through August 8: 66,210
• Average PPP loan size: $82,469
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $16 – $539

• Number of PPP loans approved through August 8: 66,344
• Average PPP loan size: $106,378
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $205 – $648

• Number of PPP loans approved through August 8: 173,552
• Average PPP loan size: $119,519
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $195 – $572

• Number of PPP loans approved through August 8: 17,942
• Average PPP loan size: $106,223
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: Mid-September
• PUA weekly benefit available: $53 – $586

• Number of PPP loans approved through August 8: 67,176
• Average PPP loan size: $86,208
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $236 on average

• Number of PPP loans approved through August 8: 23,494
• Average PPP loan size: $71,631
• FEMA enhanced benefit amount available: $0
• When FEMA enhanced benefits will start: Will not apply
• PUA weekly benefit available: $172 or more

• Number of PPP loans approved through August 8: 99,579
• Average PPP loan size: $90,089
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $120 – $275

• Number of PPP loans approved through August 8: 417,276
• Average PPP loan size: $99,039
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits started: Aug. 24
• PUA weekly benefit available: $207 – $521

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• Number of PPP loans approved through August 8: 52,275
• Average PPP loan size: $100,569
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: Mid-September
• PUA weekly benefit available: Up to $580

• Number of PPP loans approved through August 8: 12,401
• Average PPP loan size: $96,861
• FEMA enhanced benefit amount available: $400
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $191 – $513

• Number of PPP loans approved through August 8: 114,570
• Average PPP loan size: $109,873
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $60 – $378

• Number of PPP loans approved through August 8: 107,659
• Average PPP loan size: $115,781
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $235 – $790

• Number of PPP loans approved through August 8: 18,062
• Average PPP loan size: $99,796
• FEMA enhanced benefit amount available: $400
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $158 – $424

• Number of PPP loans approved through August 8: 89,615
• Average PPP loan size: $110,566
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $163 – $370

• Number of PPP loans approved through August 8: 13,586
• Average PPP loan size: $77,491
• FEMA enhanced benefit amount available: $300
• When FEMA enhanced benefits will start: To be determined
• PUA weekly benefit available: $36 – $508

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Methodology: Through a survey distributed to 1,226 Americans, Solvable, in partnership with GOBankingRates, found that 28% of small business owners, 28% of full-time workers that were laid off or furloughed due to COVID-19 and 46% of freelance/self-employed workers have not applied for any government financial assistance in response to COVID-19. GOBankingRates sought to take a closer look at the availability of different forms of government aid offered in each state. Specifically, GOBankingRates looked closely at (1) the Paycheck Protection Program loans designed to aid small business owners in each state, (2) the FEMA enhanced benefit approved for those collecting regular unemployment in each state as of Sept. 2 and (3) the method that freelancers, gig workers and other nontraditional employees can take to apply for unemployment benefits through the Pandemic Unemployment Assistance program. Information on PPP loans was sourced from the Small Business Administration’s report on Aug. 8, after the program closed its applications. Information on the current status of the FEMA enhanced benefit amount approved and expected distribution start date in each state was sourced from Forbes. Information on how to apply for PUA coverage by state was sourced from Money. All information was gathered on and up to date as of Sept. 2, 2020.