SBA Disaster Loans – Federal Government Offers Emergency Stimulus for SMBs
COVID-19 has caused large swaths of the economy to grind to a halt. From local restaurants and bars to the biggest Fortune 500 companies, real pain is being felt by business owners and employees across the economic spectrum.
Today, leaders on Capitol Hill are working on passing a set of solutions to aid small and medium-sized businesses (SMBs) suffering from this public health emergency. As of Tuesday morning, the Treasury Department is preparing a $250 billion aid package for SMBs and a $500 billion payroll tax holiday.
While the debate rages on in DC, the Small Business Association has taken proactive action to ensure SMBs can continue operation during this time. The SBAs Disaster Assistance loan program, “provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.”
In times of crisis, loans like this are essential to helping SMBs pay their vendors, employees, and general operating expenses to keep their doors open. If your MSP or some of your SMB partners are experiencing disruption as a result of the COVID-19 outbreak you can apply for an SBA Disaster Loan at https://www.sba.gov/funding-programs/disaster-assistance
Of course, we always recommend preparing for the worst, but now we are in a time of crisis and even the best–laid plans of mice and men often go awry. So now is the time to take action to mitigate the impacts of the current crisis and prepare for what’s to come tomorrow.
Finally, we at Axcient are here to help in a time of crisis like this. We’ve taken proactive action to help MSPs transition businesses to a remote workforce. Axcient will be offering Free Not for Resale (NFR) Anchor license with up to 25 users for your MSP forever. To learn more about our free offer to help enable a new national remote workforce, please visit http://bit.ly/2TYp65P
About the Author:
Dom Scafidi // Digital Marketing Specialist, Axcient
As Digital Marketing Specialist for Axcient, Dom Scafidi brings his creative drive and technical savvy to oversee Axcient social media initiatives, webinar program and MSP Ignition! He’s a self proclaimed recovering campaign addict, social media obsessed, politics junky with a love for new media. When he’s not helping both Axcient and their MSP partners enhance their digital presence, this proud Chicagoland native enjoys hosting a local beer club, playing strategy games, and volunteering on campaigns.