No. This is different than unemployment in that you don't have to prove that you're not making money. You don't have to prove that your business has taken a hit to get this. Ideally, if your business is booming and you don't need this money, you shouldn't apply. There is not a lot of guidance about how the government is going to audit these loans, but right now they're giving them out as quickly as they can. I think they're going to come back in the next few years and do audits and make sure that the right people got the money. If business is booming, if it didn't feel like you really needed this loan, I would be careful about taking it because we just don't know what the implications of that are.
That said, if you usually were making-- I'm going to use easy math. Say, you're usually making $10,000 a month from collaborations you were doing with brands, that's down to $5,000 a month, you don't have to prove that to be able to apply for the loan. Again, it's different than unemployment. We're going to talk about how unemployment works with this in a little bit, but you do not have to prove that loss of income to apply for the loan.
- Using the COVID-19 loans to your advantage