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How Home Stagers Can Apply for Federal COVID-19 Small Business Loans

Dec 21, 2020
How Home Stagers Can Apply for Federal COVID-19 Small Business Loans

Updated Dec. 30, 2020: 

We know this year has been hard on small business owners, including home staging entrepreneurs like you! We’ve been working to make sure you have all the tools you need to weather this storm, but at the end of the day, what you probably need most is funds – to pay your staff, pay yourself, and keep up with business expenses.

Well, on Dec. 27, a new COVID-19 stimulus package was signed into law, including an additional $284 billion in small business loans. That might seem like a lot of money, but there are soooo many small businesses in need that funding will probably run out quickly.

That means you need to start your application for a small business loan for your home staging business now. These are relief funds that will be available for YOU and you can’t afford to miss out on them! Here’s what you need to know to get started.

Who Qualifies for the Loan

Paycheck Protection Program loans were created to help small businesses like yours keep up with payroll. There is a misconception that this means that you need to have staff in order to qualify for a loan.

That is not true! Sole proprietors, self-employed people, and independent contractors ALL qualify! So whether or not you employ staff, you should apply for a Paycheck Protection Program loan.

How to Apply for a Paycheck Protection Program Loan

To apply for a loan through the Paycheck Protection Program, you need to submit an application to a participating lender.

You can start preparing your application by downloading and filling out this PDF. Additionally, this guide will help you calculate your maximum loan amount.

How to Find a Participating Lender Near You

You can only apply for a Paycheck Protection Program loan with participating lenders – so you’ll want to check if your current bank is a part of the program, or if you need to find another lender for the loan.

This PDF shows participating lenders by state, so you can find one near you.

What Are the Terms of the Loan?

The last set of PPP loans:

  • Had an interest rate of 1%
  • Had a maturity of 5 years
  • Will be forgiven if the funds are used for eligible expenses, and all employee retention requirements are met

All of the details for the new package are expected to be released by Jan. 6, but we encourage you to get started filling it out NOW so you are first in line! It can take a long time to fill out all the paperwork, so the soon you can get started, the better.

You can read more about the specifics of the Paycheck Protection Program loan and loan forgiveness at this link (the page states that the program closed Aug. 8, 2020, but as we mentioned earlier, it will be reopened soon, so we recommend preparing your application!).

Don’t miss out on this chance to get much-needed federal aid for your business! And remember, we are here for you. Join our free Facebook group, Staging Studio Society, to connect with other stagers, tune into our Facebook Live videos, and gain encouragement. Check out our Coronavirus Resources for Home Stagers page for more support during these challenging times.

Staging Studio has created many resources for home stagers, designers, and real estate agents during this pandemic. For all of the information, visit

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