Small Business Covid-19 Relief

small business

First, we want to thank our small business and medium-sized companies that have trusted us with their marketing needs. During these trying times, we want to give you, your teams, and families our best wishes. We know there’s a lot of economic and health worries and pain in our communities. And, it’s for that reason that we want to tell you that we continue open for business so you can get back on track. But, we also want to share with your small business Covid-19 relief since we know companies need cash flow and resources.

Covid-19 Relief for Companies

As we know, the federal and local governments are doing everything to ensure that small businesses and companies get relief. However, if you need information on how to get help, please check out the following resources.

Operating Resources Available

According to Yelp, during this time, they offer relief resources for small businesses focusing on restaurants and nightlife. For instance, if your business stays open, you can get Yelp page upgrades for free. Also, if you operate a restaurant, you will get three months at no cost to Yelp Reservations and Waitlist. In addition, restaurants that provide delivery or take-out services will get $100 in search advertising. And Yelp is giving its clients that are independent restaurants and nightlife businesses the waiving of ad fees.

Federal Stimulus Assistance for Small Business

As you know, the federal government has been working to aid corporations, small businesses, and workers. A few of the resources you should check are as follows:

  • Loans to Protect Paychecks. The SBA is offering an opportunity for small businesses (with fewer than 500 employees) to get guaranteed loans of up to 10 years at a rate of 4%. Borrowers can get a loan of up to $10 million.
  • Tax Filing Extension. Because of these unprecedented circumstances, the IRS is allowing an extension for both individuals and businesses to file 2019 taxes on July 15, 2020.
  • State Resources for Small Business. Of course, every state is different with regard to what it offers companies. Thus, the best course of action is to check the website of your state governor.

Economic Relief Available

·       Economic Injury Disaster Loan (EIDL)

If your state is declared a disaster because of the Coronavirus-19, you may have the chance to apply for an Economic Injury Disaster Loan (EIDL). A small business that can apply for this kind of aid includes for-profit, agricultural co-ops, and nonprofit groups. According to The National Law Review, a small business is generally a company that “makes a maximum of US$750,000 – US$38.5 million in annual revenue and has fewer than 100 – 1,500 employees, depending on industry.”

·       SCORE Support for Small Businesses

The Service Corps of Retired Executives (SCORE) has developed a unique resource hub for small businesses. In it, you have the chance to connect with experienced mentors and coaches. Further, you can access live webinars and remote workshops to help you during this time. Also, SCORE has available an excellent resource for obtaining financial support. It’s called, Where’s the Money? 10 Types of Small Business Financing and How to Qualify.

·       U.S. Small Business Administration (SBA)

The SBA has also created an excellent resource where you can find guidance and loan resources. By going to the site, you can find information on SBA products, but also the Economic Injury Disaster Loan Program. What’s more, you can find information about local assistance in your state, as well as government contracting opportunities. Finally, you’ll also have the chance to obtain guidance from the SBA for your company about what to do during this time of economic stress.

In sum, we’d like to reaffirm that we’re also here to support our clients and any new business partners. We know that it’s vital for small businesses in particular to ensure cash flow and a steady client and customer base. Grafix Design Studio is at the ready to assist you during this especially critical time.

 

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