The COVID-19 pandemic has taken a toll on the business world, and small businesses, in particular, are feeling the heavy weight of uncertainty. With everything that has happened, having to shut down, changing business direction, and losing thousands of dollars from the consumer, it’s no wonder many business owners are seeking help from the government.
If you are in need of assistance, don’t hesitate to look for the small business loans that can help your business survive during the pandemic. There are many relief programs for just this reason. Some of these programs will help with payroll, rent, and debts that you may not be able to meet during the current situation. Below are a few of the programs available for small businesses:
The Paycheck Protection Program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7 loan program.
EIDL (Economic Injury Disaster Loan) Loan Advance will provide up to $10,000 of economic relief to a business that currently are experiencing temporary difficulties.
SBA (Small Business Administration) Express Bridge Loans will enable small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
SBA (Small Business Administration) Debt Relief will allow a small business financial reprieve during the COVID-19 pandemic.
There is hope for your small business if you are experiencing financial difficulties during this unprecedented time. Take the time to research if one of the above options can help relieve some of the stressors of COVID-19. Visit www.sba.gov for all the information concerning the above-mentioned programs dedicated to helping your small business survive.