Are clubs eligible for these SBA Loans? Seems like some are double dipping if they are charging fees for Spring while collecting these SBAs no?
Get caught doing what? This SBA loans have very loosey goosey minimal requirements…lots for businesses are going to take advantage of them that probably don’t really need to…nothing legal in that…unethical perhaps (ymmv)…
Clubs are eligible. Imagine most were anticipating collecting Spring registration fees and instead are giving refunds.
Our club front loads spring fees in the fall. You basically pay monthly July through December and have no payments during spring season. I haven't heard a peep about giving refunds.
Clubs that host tournaments are also missing that revenue. The spring tournament at my son's club generates 6-8 percent, give or take and depending on the year, of the club's annual revenue.
I’m also worried about the financial fallout for our local “scholarship” organizations that provide financial aid for, not only soccer, but all youth sports in the area. Many have had to cancel large fundraising events. I was reading an article that said 25-30% of clubs could go under.
Good point. Within clubs themselves, scholarship money would be one of the first places to look to make cuts (for those in a bad-but-not-catastrophic situation). Rec programs, as I know of them, are run on shoestring budgets, too. How healthy was your local park district going into this? In the travel baseball/softball world, I wonder about the small businesses that cater to them (batting cages, indoor hitting facilities, ...) and what's ahead for them.