Everything You Need to Know About Coronavirus Federal Small Business Stimulus Aid Programs 

A breakdown of all the federal programs and aid for small business coronavirus assistance.

How to Apply for an SBA Disaster Relief Loan 

  • The SBA is offering designated states and territories low-interest federal disaster loans to small businesses suffering substantial economic harm as a result of the coronavirus.
  • These loans may be used by small businesses to pay fixed debts, payroll, accounts payable and additional bills that can’t be paid because of COVID-19’s impact. The interest rate is 3.75% for small businesses without other available means of credit. The interest rate for non-profits is 2.75%. Businesses with credit available elsewhere are not eligible.

Resources to Help Your Small Business Survive the Coronavirus 

The coronavirus is causing financial difficulties for businesses across the U.S. Here are five resources that can help you navigate this difficult situation.

Coronavirus: 8 Things Your Small Business Needs to Do 

The U.S. Chamber of Commerce put together this toolkit to help businesses and citizens alike understand how to navigate the coronavirus. There are guidelines on how small business owners can ensure they are keeping their customers and employees safe.

The toolkit also includes a business preparedness checklist. This checklist can help you figure out what to prioritize and to create a plan of communication for your employees.

The Chamber has also created a customizable flyer that small businesses can use to communicate their coronavirus efforts to their customers. You can find the flyer here.

You can also connect with your local Chamber of Commerce to see what local programs are being implemented and connect with other business owners in your area. You can find your local Chamber of Commerce here.

Additionally, the Export-Import Bank of the United States (EXIM) has announced relief measures for U.S. exporters and financial institutions that include waivers, deadline extensions, streamlined processing and flexibility for its customers for an initial period of 30 days, with the possibility of more, for the following programs:

  • Working Capital Guarantee Program.
  • Multi-Buyer and Single-Buyer Short-Term Insurance Program.
  • Medium-Term Single-Buyer Insurance Policies Issued to Exporters.

https://www.uschamber.com/co/small-business-coronavirus