COVID-19 Resources: A Guide for U.S. Small Business Owners

COVID-19: An Easy-to-Understand Guide for Small Business Owners

BFS is actively tracking developments relevant to our community and keeping track of top resources here. If you have a suggestion for a resource to include, let us know at covid19@bfscapital.com.

US Federal Government Resources

U.S. Small Business Administration

The U.S. Small Business Administration is offering a number of (rapidly evolving) solutions aimed at small businesses. Some of these programs are still under development.

SBA Economic Injury Disaster Loan Assistance (for COVID-19)

Small business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan due to Coronavirus (COVID-19). In advance of your loan being approved, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. Find all official information on their site and apply here.

Coronavirus (COVID-19): Small Business Guidance & Loan Resources

A list of all resources currently being presented by the SBA, whether eligible for application today or still being developed in response to newly approved legislation. These will include the new Paycheck Protection Program that you might have heard was part of the CARE Act.

Additional Resource Lists

The following sites have lists of helpful resources.

Innovative Lending Platform Association

Resources for Small Businesses During Coronavirus Crisis

A helpful list of government resources including links to federal as well as state and local resources.

US Chamber of Commerce

Resources for Combatting the Corona Virus

The U.S. Chamber is working closely with the White House, U.S. government agencies, and foreign government officials to inform and equip businesses with the most important and up-to-date information to prevent the spread of the virus and prepare businesses for the near and long-term impact

Coronavirus Emergency Loans: Guide and Checklist for Small Businesses

Info on the SBA loans including a handy cheat sheet to help small businesses and self-employed individuals prepare to file for a loan.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses

Helpful Articles

“Getting Cash For Your Small Business Through The CARES Act” – Forbes, By Brian Thompson Mar 29, 2020

A super helpful plain-english explanation of the Coronavirus Aid, Relief, and Economic Security (CARES) Act that walks through both EIDLs and Paycheck Protection Loans including eligibility and tips for applying.  

Here’s how to get a small business loan under the $349 billion coronavirus aid bill – The Washington Post, By Aaron Gregg Mar 30, 2020

A thorough article focused specifically on “how small business owners can access the new federal ‘paycheck protection program.’“ which promises to be “updated as new information is made available.”

Private Sector Programs and Resources

Facebook

Facebook Small Business Grants Program

“Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where we operate.

Resources Suggested by Our Community

Finder.com Coronavirus Page

An exhaustive list of resources relevant to businesses and consumers, suggested by David Polaniecki, Business Development Manager at BFS Capital