For many businesses, avoiding direct customer contact presents significant hurdles to completing your daily tasks. Fortunately, there are ways to adapt your processes to reduce risks to your staff and customers.
At GoCanvas, we know that there can be a lot to keep track of and consider as we work through the circumstances of the COVID-19 pandemic. We wanted to provide help to navigate some of the financial and logistical challenges you may be facing, so we’ve created this package of resources designed specifically for small businesses.
There are a number of different options available for small businesses who need help during this pandemic. There are several existing federal loan programs, as well as ones introduced by the CARES Act and other responses to the COVID-19 pandemic.
As of May 1, 2020 Congress has passed several bills to provide support to small businesses during the COVID-19 pandemic. Here is a summary of what those bills are and the status of the funding they provide.
With the variety of existing and new programs available to small businesses during this pandemic, it can be challenging to find out which options your company is eligible for. Here are some of the qualification criteria and resources for a number of programs.
You can apply for most federal loans through your local bank or credit union. If you have an established relationship with a particular bank, you can reach out to them for assistance with navigating and completing the application process. Learn more about other resources available to small businesses.
Some banks have small business account homepages on their website, with dashboards for your lines of credit and outstanding loan applications, while others will send email updates as the application is being processed.
With the current increase in the number of available programs and loan applications, it is difficult to estimate exact times for processing and receiving money from federal loans.
The amount of money to request when applying for federal loans during the COVID-19 pandemic depends on the type of loan and the intended use of the funds.
Many companies, organizations, associations, and non-profits are stepping up to help small businesses survive the COVID-19 pandemic. Rather than keep a running list of state or industry funding that is available, here are some invaluable resources that are doing just that.