Options for Businesses to Survive Coronavirus
We have victims, we have heroes, and we have businesses that suffer tremendously during the coronavirus threat and lockdown.
But take heed, help is here! Not only the government, but businesses throughout the country are stretching out their hands, too.
Here are some resources for you:
The Federal Reserve on March 23, 2020 announced two ways it will assist small businesses across America.
The SBA’s Economic Injury Disaster Loan program will provide working capital loans of up to $2 million. It will help impacted businesses “meet financial obligations and operating expenses. The interest rate is 3.75% for small businesses and 2.75% for private nonprofits. Loans can have long-term repayments for affordability, up to 30 years. You can apply online, in-person at a disaster center or by mail. Apply online at the SBA’s website or call the SBA Customer Service Center at 800-659-2955. The SBA site has a directory to find its local offices.
Facebook launched a grant program to help small businesses experiencing coronavirus-related disruptions. It will provide $100 million in “cash and ad credits” to 30,000 eligible small businesses in the 30 countries where Facebook operates.
Banks including Barclays, Capital One, Citi and Wells Fargo have said they’ll work with banking and credit card customers experiencing financial difficulties.
But here’s the best stimulus package you can get for your business: No application, no credit rating check, no fees, no interest, and no need to return the money because it’s not a loan or grant! What it is? This a new survival, surplus asset remarketing program from Excess Logic.
The company helps businesses in North America turn excess R&D, Lab, IT of Manufacturing equipment into cash. Excess Logic pickup surplus equipment, sell it, and give you the money you need to support daily operations. This is a seamless and simple transaction that doesn’t require any complicated application. Excess Logic will pick up your equipment for you should it qualify and put cash straight in your hands! Contact us today at 650-307-7553 or via our website.