Government action & disaster assistance
Federal, state and local governments are undertaking numerous actions and offering several programs to assist small businesses with the direct and indirect effects of COVID-19 on their businesses. Many financial institutions and private parties are providing financial assistance as well.
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Small business assistance for COVID-19
The U.S. Small Business Administration (SBA) has approved “economic injury disaster loans” (EIDL) for small businesses in most places across the country. These are working capital loans to help small businesses meet ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. They are intended to assist through the disaster recovery period. To learn more about SBA loans, please click here.
State and local governments and some private institutions are also offering programs that may be applicable to you. See an updated list compiled by our friends at Gusto and check back for additions. A few additional programs are described on the appendix to these FAQs.