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Relief for Businesses During Coronavirus Outbreak

March 30th, 2020 | Written by

Relief for Businesses During Coronavirus Outbreak

Many businesses are feeling the effects of coronavirus. Some non-essential businesses such as restaurants, gyms, and libraries have been forced to close by state and local governments. Other companies, while still open, are seeing cash flow issues.

There are options for small businesses to see some relief.

Small Business Administration’s Economic Injury Disaster Loan program

Through this program, small business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan due to Coronavirus (COVID-19). The SBA’s Economic Injury Disaster 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.

Maryland Department of Commerce is offering three new business assistance programs in response to the COVID-19 pandemic

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    This information is not intended to be used as the only bases for investment decisions, nor should it be constructed as advice designed to meet your particular needs. You are advised to seek the advice of your financial advisor prior to making any decision based on any specific information contained herein.
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