Coronavirus – Business Survival Toolkit (Webinar Slide Deck)
Main Street Lending Program (Webinar Slide Deck)
Thank you for registering for our presentation on how to survive the coronavirus crisis. We are compiling an annotated list of the resources we mention in the webinar, in the hopes that they will be useful to you as you figure out your options.
First off, let’s mention that we offer a complimentary service package, a Coronavirus Business Survival Kit. It includes the following:
- Identifying loan and grant programs eligibility (local government programs, federal loan options, and private sector initiatives)
- Interfacing with accountant to gather all documentation
- Review of insurance policies to assess current coverage and spot cost-saving opportunities
- Assistance with applying for grants and loans you are eligible for, and following up until disbursement
Sign up on our registration page
More of a DIYer? Then read on!
Economic Injury Disaster Loan:
The SBA’s website has been refreshed and is operational. Here’s the new link:
Main Street Lending Program
Read my analysis of the Main Street Lending Program.
Payment Protection Loans Program:
The $350 billion program for small employers, self-employed individuals, and “gig economy” workers, is designed to help prevent people from losing their jobs and small businesses from going under due to economic losses caused by the COVID-19 pandemic.
The “Paycheck Protection Program” provides 8 weeks of cash-flow assistance through 100 percent federally guaranteed loans to small employers who maintain their payroll during this emergency. If the employer maintains payroll, the portion of the loans used for covered payroll costs, interest on mortgage obligations, rent, and utilities would be forgiven, which would help workers to remain employed and affected small businesses to recover. The proposal is retroactive to February 15, 2020, to help bring workers who may have already been laid off back onto payrolls.
Visit this page for one of the best summaries of the Paycheck Protection Program.
Finally, we are keeping close tabs on the responses from cities and states in regards to providing grants and loans for local businesses affected by the COVID-19 crisis. We currently have detailed notes on programs in the following areas:
- New Jersey
- New Mexico
- New York City (NY)
We encourage you to keep checking, as things are evolving on a daily basis.