In less than two weeks, the escalation of the coronavirus has had devastating effects on the US and the global economy. The US senate’s inability to agree on a proposed $1.8 trillion stimulus package for the national economy has hurt the markets, with the Dow Jones Industrial Average falling more than 8,000 points.
Nowhere is this damage being felt more acutely than in small business markets. With just a week or two of lowered or altogether halted activity from customers and clients, these small businesses have had to lay staff members off, make significant changes to their services, and dip into their savings.
Is your business struggling? Most likely – but the good news is that you’re not entirely on your own.
The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury due to the coronavirus pandemic.
If you qualify, you could receive assistance to help keep your business running through the course of the pandemic.
Here are the particulars you should be aware of:
You can apply for assistance on the SBA’s website – CLICK HERE to learn more and to start the application process.
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