Observing social distancing by closing a business can be helpful to slow the pandemic but can also be devastating to small business owners. Below are some available resources on the assistance that is available at this time:
- Access the guidance offered by the Center for Disease Control on how businesses and employers can respond to the pandemic.
- The US Small Business Administration offers a Disaster Preparedness Factsheet.
- If you have an online presence, consider reaching your client base through social networks to ask for their continued support.
- The US Small Business Administration is offering Economic Injury Disaster Loans, check eligibility requirements and read more about SBA’s disaster assistance.
- Small Business Majority manages, Venturize, a resources hub that aggregates information on COVID-19 emergency loans and grants. Search the list by your state of residence.
- Depending on where you live, there may be more local assistance that is available. You find whether there are any available to you by searching for, “Office of Economic and Workforce Development,” and your city and state. Only consider websites ending in .gov.
- Learn about the Small Business Grants Program offered by Facebook to business owners in or near a location where Facebook operates. You can also access their Business Resource Hub.
- Verizon Small Business Recovery Fund is a national fund for entrepreneurs of color, women-owned businesses and other businesses needing immediate assistance. Sign up for updates on when they are reopening applications to the grant.
More information about how the CARES Act passed by congress is available from the CFPB. Reach out to us to speak with one of our financial coaches if you have more questions about this topic.