Open Business

No doubt these are very difficult times for all of us. I personally don’t like unpredictability and this situation is more than unpredictable. As a business owner, mother of two boys (one in his first year of college), and responsible for the financial support of family and staff members, these times are quite unsettling. However, I am hopeful that when this is behind us, we will recover back to our Pre-Coronavirus lives, if not better.

Government agencies and other organizations are constantly trying to figure out what resources to make available to business owners to help us survive this crisis. Government and private grants, low-interest loans, tax relief efforts and free business coaching will all play a very important role in how we get through these challenging times. Although it might seem as if no amount of resources will be enough, any little bit helps. Let’s take advantage of as many of these resources as possible. Join community groups to learn about how others are dealing with this crisis, research, ask for help and share. We can get through this if we join forces, support each other and embrace the positive. 

SBA programs:

Disaster assistance loans for up to $2 million for small businesses affected by the Coronavirus.

SBA’s Local Assistance Directory where you can find one of the several SBA’s resource partners who provide counseling, mentoring and training to small businesses 

New York City Programs (see below for other states’ resources):

Employee Retention Grant Program offering grants to small businesses with 1-4 employees to help retain employees during decreasing revenues

The Shared Work Program lets you keep trained staff and avoid layoffs. Employees can receive partial Unemployment Insurance benefits while working reduced hours. 

Other states’ initiatives:

Check out this spreadsheet which Gusto put together with resources available from different US states. 

Tax Relief Initiatives:

IRS extended the deadline for federal tax filing and payments to July 15th, 2020.

Treasury, IRS and Labor  announced plan to implement Coronavirus-related paid leave for workers and tax credits for small and midsize businesses to swiftly recover the cost of providing Coronavirus-related leave.

Other Resources:

Finder.com has compiled the list of lenders and companies offering discounted businesses loans and grants during the Coronavirus outbreak.

Facebook launched the Small Business Grants Program which will provide cash grants and ad credits to help businesses during these tough times. 

Amazon is creating a $5 million Neighborhood Small Business Relief Fund to provide cash grants to Seattle small businesses that need assistance.

UberEats implemented a $0 delivery fee on any order from a local restaurant to support the community during the Coronavirus pandemic.

Remember to ask for help and to support other business owners like you if you have the opportunity to do so.

Learn. Connect. Share.

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