COVID-19 Updates: What Help is Still Available?

COVID-19 Updates: What Help is Still Available?
Categorized as CARES Act, COVID-19 Relief Series Tagged , , , , , ,

We keep seeing the headlines of the government running out of funding assistance for businesses. Congress keeps extending deadlines and funding programs. So, what help is still available to help your business survive the current COVID-19 economic crisis? Three key programs are currently open to applications and have funding available.

  • Paycheck Protection Program: Congress reopened applications through August 8th. Learn more.
  • Economic Injury Disaster Loan: Get working capital to cover expenses during the crisis. Learn more.
  • EIDL Grant Program: When you apply for the EIDL, your company is eligible for a grant up to $10,000 ($1,000 per employee) to cover you until the EIDL funds. As a grant, this is not a loan to be paid back.
  • SBA Express Bridge Loans: Get funding quickly, as you wait for the EIDL to fund. Available to companies with an existing relationship with the SBA. Loan amount is up to $25,000.
  • SBA Debt Relief: If you currently have a loan with the SBA, they’ll cover up to six months of principle, interest and fees on your 7(a) loan.

More Help Available for Small Businesses

In addition to SBA programs, there are other places to get help. GoFundMe has the Small Business Relief Initiative. OnwardCA has all kinds of help for businesses here in California. And there is much more, including our team here at ASCEND. We care about you and your business. Give our office a call now to discuss your situation, and we’ll help you put a plan together to get through this crisis and ASCEND to new heights when things settle down.