The coronavirus crisis has had a significant negative effect an so many small businesses across the country, and it seems like the majority of small business owners are struggling to survive economically. Even when the economy opens back up, it will be extremely difficult for small businesses in a wide variety of industries to stay afloat.
Fortunately, there are government support programs available, and a number of companies are stepping up to help. Following are some of the programs and opportunities that could help your small business survive the COVID-19 pandemic.
Government and Corporate Offerings
Here are a number of government and bank offers to help small businesses survive the coronavirus pandemic.
SBA Economic Injury Disaster Loan Emergency Advances
Apply for an Economic Injury Disaster Loan emergency advance and get up to $10,000 from the Small Business Association (SBA).
SBA Debt Relief
The SBA will pay the principal, interest, and fees of some microloans for six months as part of its coronavirus Debt Relief program.
SBA Express Bridge Loan
The SBA is offering an Express Bridge Loan of up to $25,000 to small businesses that already have relationships with an SBA Express Lender, so they can access money quickly.
SBA Paycheck Protection Loan
The Paycheck Protection Loan from the SBA can help a small business retain its workforce during the COVID-19 crisis.
Federal Reserve’s Main Street Business Lending and Grant Program
The Main Street Business Lending Program can provide lending to small and mid-sized businesses that meet eligibility requirements.
Federal Payroll Tax Credit
The U.S. Department of Labor, U.S. Treasury Department, and the IRS are allowing businesses with fewer than 500 employees to claim refundable payroll tax credits.
JP Morgan Chase
JP Morgan Chase has made $8 million available for small businesses that have suffered significant financial impacts due to the coronavirus pandemic.
GoFundMe.org created the Small Business Relief Fund to provide micro-grants to small businesses that meet specific qualifications.
Special COVID-19 Discounts and Free Offers for Small Businesses
In addition to the government and corporate loans, grants, and credits available to small businesses that have endured economic hardships during the COVID-19 crisis, a number of companies are offering special discounts on products and services as well as free offers to help small businesses and entrepreneurs get through this challenging time. Some of these offers are included below.
Note: If any of the links below bring up a blank page after you click on them, just refresh the page to reload it, and that should fix the problem so you can get your discounts.
Freshbooks, a leading small business accounting, time-tracking, invoicing, and estimating tool, is offering 60% off all plans for the first six months if you skips the 30-day free trial period.
Sign up for Animoto, a leading marketing video tool for small businesses, and get 15% off all Animoto annual plans with code ANNUAL15OFF.
Facebook Small Business Grants Program
Facebook is offering offering $100 million in cash grants and ad credits to businesses struggling during the coronavirus pandemic through its Small Business Grants Program.
Google is giving $340 million in ad credits to small and medium-sized businesses, which can be used through the end of 2020 across all Google Ads platforms.
Do you know of any other nationwide resources to help small businesses navigate the coronavirus crisis? Share them in the comments below!