Small businesses are the backbone that makes Town Money Saver work. The COVID-19 pandemic is hurting the people we love and work with. So in an effort to provide any help we can, TMS has compiled this list of various articles and resources filled with ideas to help small business through this tough time.
SMALL BUSINESS ADMINISTRATION (SBA)
The first resource you should know about is the Small Business Administration’s Economic Injury Disaster Loan Program. Besides being a mouthful, this program’s goal is to provide “targeted, low-interest loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19).”
According to the SBA, its Economic Injury Disaster Loan program “provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.”
You can apply for this program sba.gov/disaster.
FORBES
Dane Stangler, a Forbes contributor, wrote a piece on the popular website about helping small businesses during COVID-19.
In addition to also taking about the SBA relief program, this article goes over mitigating supply chain disruptions, paid leave, income support, wage insurance, payment flexibility, and a lot more.
SBDC MICHIGAN
Michigan’s Small Business Development Center (SBDC) put together a great list in a Q&A style about supporting your businesses during the pandemic.
Have you asked yourself if you should approach a bank? Or how you can better keep your customers informed? Well, then this read is for you.
While this info comes from the Michigan SBDC, rest assured this piece is fine for any business owner in any state.
On March 17, Facebook announced a $100 million program to help small businesses. The details are sparse at the time of this publication, but here are the key points.
The grants will be available for up to 30,000 eligible small businesses in over 30 countries, an average of $3,333 per business.
And according to an article by CNBC, “Facebook will begin accepting applications in coming weeks. The company said the program can help businesses with rent and operational costs, maintaining workforce and connecting with customers.”