COVID-19 Resources for Small Business Owners
Good News - On April 22, 2020 The House approved another 310 billion for small business loans and 100 billion for hospitals and testing. If you have experienced a drop in your income, check out these Free and low-cost resources to see if you qualify for support. Offerings from the SBA:
These 2 loans are for corporations, small businesses, independent contractors and sole proprietors. Now is the time to check with your bank or credit union as some are offering loans up to $5000. For 0% interest rate. If you have a retirement account like an IRA you may be able to take up to $100K out before the age of 59 1/2 right now without having to pay the regular 10% penalty. Kiva.org offers loans to business owners in the U.S. and has increased their loan limit to $15K with a 0% interest rate. The COVID-19 Financial Aid Guide from Mark & Shannon Grainger may also help. Generosity and Kindness Cannot Be Quarantined. Business is still happening and you can continue make money by meeting your clients where they are and serving them at the highest level possible.
For some of you this will bring up fear, anxiety and confusion and others will simply need a sounding board for your ideas or strategic guidance on your next best step.
I’m here for you whatever that means for you in your business.
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