In the midst of all the financial and medical uncertainty, we are all making adjustments to our personal and business activities. The Chamber wants to provide information that can be helpful as you navigate through the challenges posed by the COVID-19 crisis. First and foremost, follow the guidelines put out by the Center for Disease Control (CDC) and use the County’s Department of Health website to get the latest local information.
Keep Working by Going Virtual
Many businesses are looking into video or on-line meetings to keep the flow of work going while maintaining acceptable amounts of “social distancing”, a new phrase for our vocabulary!!. To provide some assistance about how to suddenly go virtual, check out the infographic from the Next Wave Group here. It provides some helpful tips to get started. If you are thinking about setting up a video conference, click here to learn about some FREE video conferencing platforms here.
Financial Assistance for Your Business During COVID-19 Crisis
With all the cancellations and uncertainty about the Coronavirus, many businesses may experience a significant slowdown which will impact operations and result in lost revenue and serious cashflow issues. To help businesses experiencing financial hardships, the Small Business Administration has established the COVID-19 Disaster Relief Lending program. It will provide up to $2 million in assistance for a small business.
These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%. For more details about the new loan program from SBA, click HERE.