Over a week ago we launched a comprehensive effort to urge Congressional leaders to include measures in the federal emergency financial relief package to support workers and small businesses reeling from the economic impact of the coronavirus (COVID-19) pandemic, including the hardworking members of our host community who rely on the sharing economy to support their families.
Hosts from every state in the US sent over 100,000 emails to Members of Congress, sharing what their Airbnb income means to them, and how the downturn in travel has affected their lives. Thanks in part to these advocacy efforts, Congress passed legislation that includes eligibility for Airbnb hosts to take advantage of the following relief measures:
- Small business grants to provide coverage for operating costs of their COVID-19-impacted business or sole proprietorship, including mortgage, rent, utilities, or repayment obligations.
- Small business loans, depending on the needs of their business or sole proprietorship, including loans to protect independent contractors hosts may employ, such as cleaning providers and property managers
- Unemployment assistance for individuals who are directly impacted by COVID-19 and not otherwise eligible for regular compensation or extended benefits
- Tax relief for certain hosts with business losses, modifying the loss limitation previously applicable, so that they can utilize excess business losses and access critical cash flow.
- Other opportunities to increase access to needed capital, also available to all Americans, such as tax rebates, retirement account flexibility, and forbearance for federally-backed mortgage loans and certain residential mortgage loan payments.
How hosts can apply
Small business relief
Hosts can apply starting Friday, April 3. Hosts are encouraged to apply as soon as possible, as funding is limited.
Hosts can apply to their state’s unemployment program now.
Airbnb will continue to advocate on behalf of our host community and their diverse business needs. We’ll provide updates here on the implementation of these relief measures as new resources are released.