In a survey conducted by the American Society of Travel Advisors (ASTA) between May 1 – 8, it found that just one-third (33.4 percent) of its members who applied applied for unemployment benefits in their state (76 percent of respondents) were approved. While it was an improvement since its last survey on April 20 (when 13.8 percent said they were approved), more than half (52.9 percent) found the process very difficult; 21.2 percent moderately difficult; and 15.1 percent somewhat difficult—that’s a total of 89.2 percent who found the process to have some level of difficulty.
In addition, ASTA found that, of the nearly 600 travel advisors who responded, just over half (56.2 percent) of advisors who applied for a Paycheck Protection Program (PPP) loan were approved. One-third (33.7 percent) found the process very difficult; 28.7 percent said it was moderately difficult; and 20.1 percent said it was somewhat difficult. Further, ASTA says 38.2 percent of advisors had difficulty in finding a bank, credit union or other financial institution that was willing to accept their application. About two-thirds (64.8 percent) of respondents applied for a PPP loan; the 56.2 percent marked an improvement from April, when 20.1 said they were approved.
Six in 10 ASTA members (61.7 percent) applied for an Economic Injury Disaster Loan; of those, 25.9 percent had been approved for a loan (versus 7.1 percent on April 20). Three in 10 (29.8 percent) found the process very difficult; 20.7 percent moderately difficult; and 16.8 percent somewhat difficult.
Note: ASTA says the vast majority of respondents answered early in the window (closer to May 1), so it expects these numbers to continue to improve.
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