Assistance Offered By The Federal Government To Help Small Businesses Fight Coronavirus (COVID19) Crisis

Small Businesses have been affected badly by the impact of COIVD19 pandemic on the world. With the increase, in the number of positive cases, the business has already started to feel the financial crunch. Many of them are failing to pay their rent, employee salary, and other debt bills. Like on March 18, President Trump stated that the restaurant industry will lose more than $225 billion if the pandemic lasts more than 3 months. There are other industries affected too.

But to cover those losses world leaders & philanthropists like Gates Foundation are joining hands to help the small and medium-sized enterprises to fight against the crisis caused by COVID19 pandemic. Many states in the US have already started providing small business coronavirus aid programs in the form of funds &  low-interest loans to back them during the crisis.

The above stats show what business owners think about the impact of COVID19 on their business. Every country is taking all the necessary steps to fight COVID19 impact on our global economy. The federal government has already started to offer various emergency relief programs, grants, emergency funding and more to help small businesses in paying their basic bills.

In the recent G20 summit,  leaders of G-20 decided to inject  $5 trillion into the global economy to fight the COVID19 pandemic.  All the countries of the G-20 agreed to fight the coronavirus by sharing potential health data addressing potential trade disruption. At a press conference, Donald Trump stated that they will share all the potential information and data with G-20 leaders to fight coronavirus pandemic.

So in this article, we will be giving you all the details related to loans, emergency reliefs, grants and funds offered by different cities in the US to help small businesses in paying their basic and dept bills.

Assistance offered by the Federal Government to Fight Coronavirus (COVID19) impact on small businesses

Today almost every small business around the world is standing on the edge due to the economic crisis caused by the COVID19 pandemic.  If your business is among them and seeking any help to cover the Losses then go through the small business coronavirus aid program provide by different States and cities in the US.

1. Income tax filing and payment deadline extension

With the increase in the number of COVID19 positive cases, many businesses have already begun to feel the financial crunch. That’s why the federal tax filing deadline is pushed to 15 July 2020.

The Treasury Department and the internal revenue service are offering tax filing and payment relief to businesses facing financial issues. There will be no penalties and interest on taxes paid before July 15, 2020. (if the effect of the coronavirus grows that they may extend the days depending on the situation).

Most of the state tax agencies in the U.S. have already begun to extend the dates and deadlines of the local tax payment. You can check with your state tax agency to know about the deadline of your tax payment.

2. Small Business Assistance (SBA) Economy Disaster Loan Assistance

Due to the recent crisis, The U.S. Small business Assistance(SBA) is offering low-interest economic disaster loans up to $2 million (3.75% for small business and 2.75% for nonprofit organization) to working capital and small business suffering from COVID19 pandemic. The repayment policy of the loan can go up to 30 years.

Now the question is who can apply for the loan. From the updated report, businesses in every state plus American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands can apply. The loan can be used to pay the debt amount, employee bill, rent, and other bills.

You can click here to apply for Small Business Assistance (SBA) Economy Disaster Loan Assistance. You have to provide a few documents like your tax return, personal financial statement, etc to avail advantages of loan.  For more details, you can contact SBA assistance customers service center at 1-800-659-2955.

3. SBA ”Paycheck Protection” loan program

Recently on March 25, 2020, senet announced a Coronavirus relief program of $2.2 trillion to support states, businesses affected badly by the impact of COVID19 pandemic.  Recently US small business administration (SBA) offered low-interest loan up to $10 million with the interest rate of 4%v. Read more on

https://www.sfwpexperts.com/assistance-offered-by-the-federal-government-to-help-small-businesses-fight-covid19-crisis/

Other Blogs Link:

How Small Businesses Are Getting Affected By Coronavirus (COVID19) Pandemic? What They Are Doing To Avoid Those Losses?

How Coronavirus (COVID19) Pandemic Is Affecting Marketing And Advertising Industries?

Financial Aid & Assistance Offered By Top Companies And Philanthropist To Fight COVID19 Pandemic

As the impact COVID19 is growing in society, many lives, families, and small businesses are facing difficulties in managing their livelihoods. To overcome that federal government of different countries has stepped up to help all the families and businesses struggling to survive during the crisis.

Not only the federal government but many top companies and philanthropists are offering various financial aid and medical assistance to support families and small businesses. If you want to know more about the impact of COVID19 on the advertising and marketing industry check our blog on How COVID19 Pandemic Is Affecting Marketing And Advertising Industries?

In this article, we will be highlighting the funds and grants offered by various companies and philanthropists to help the global nonprofit organization in fighting unwanted coronavirus pandemic.

Financial Aid Offered by Top Companies and Philanthropist

Many world leaders & philanthropists like Gates Foundation are joining hands to help the small and medium-sized enterprises to fight against the crisis caused by COVID19 pandemic. Many states in the US have already started assisting small businesses by providing aid like funds &  low-interest loans to back them during the crisis. Below are the list of companies and organizations offering grants and a low-interest loan to help families and businesses fight COVID19 Pandemic.

1. Facebook (Small Business Grant Program)

After the COVID19 crisis, many small businesses are struggling to manage their business and pay their basic wages. To overcome that Facebook announced $100 million cash grand for all the businesses across different countries to support their functioning during the crisis. Businesses can also take advantage of Facebook Ads credit to run their ads.

More than 30,000 small businesses in 30 different courtiers will get the advantage of the small business grants program, as Facebook is planning to distribute grants to different countries depending on the impact of COVID19. The application for the grant is not launched yet but soon Facebook will start giving applications to a business struggling to pay their rent, employees and other debt bills. The application will be out soon you can click here to  Sign up for updates on the application.

Other than funds and grants Facebook is introducing different types of free courses that will help small and medium-sized businesses to many and run their business until the crisis ends.

2. Google

On March 15 Google announced a $50 million grant to fight the novel COvid19 pandemic.  Including that they will be donating $5 million to the COVID19 solidarity fund for the world health organization (UN).With the increase in the COVID19 cases, google offered aid to the many small businesses, healthcare,  science and access to educational resources.

Google has taken major steps to promote all the necessary information related to  COVID19. Information like symptoms of COVID 19, vaccine updates, travel-related info, economy slowdown info and all the safety measures a person should take to avoid Coronavirus. If you watch the video then you can identify how google is using unconventional ways to spread the awareness of the COVID19 pandemic.

Google is taking all the necessary steps to delete all the videos on youtube exploiting fear about COVID19. If any of the videos on Youtube promote avoiding medical tests then the videos automatically get deleted.

While researching our team came across news were people in the video asked COVID19 positive people to avoid medical tests and follow their hypothetical prevention measures to get rid of COVID19. To overcome these types of misleading content  Google also started blocking all the ads exploiting coronavirus. Read more on

https://www.sfwpexperts.com/financial-aid-assistance-offered-by-top-companies-and-philanthropist-to-fight-covid19-pandemic/

Other Blogs Link:

Assistance Offered By The Federal Government To Help Small Businesses Fight Coronavirus (COVID19) Crisis

How Small Businesses Are Getting Affected By Coronavirus (COVID19) Pandemic? What They Are Doing To Avoid Those Losses?

How Small And Medium-Sized Enterprises (SMEs) Are Getting Affected By COVID19 Pandemic? What They Are Doing To Avoid Those Losses?

By now you might be having a very clear idea about the devastating impact of  COVID 19 Pandemic on the people’s life and global economy. The Recent crisis has forced Small and medium-sized enterprises (SME’s)  to stop their functioning. With the increase in the positive cases, many small businesses have become clueless about their future which may affect their revenue.

For the latest report, the US has asked places like restaurants, theaters, events, entertainment venues and more to close their doors until further notice. Because of that small businesses have started to feel the financial crunch due to the coronavirus pandemic.

From the latest survey by Bloomberg. Many small businesses are finding it difficult to survive for more than 1or 2 months due to payments like rent, loan payment, employee paycheck and more. More than 30% percent of the business may run out of cash and fail to operate after one or two months. Only 9 percent of small and medium-sized enterprises think they can survive for 6 or more months during the outbreak.

Due to COVID19 impact retailers have already started to face problems like supply chain issues (due to China), fewer customers, a decrease in sales and many more. Affecting hourly workers shift, job, paycheck and more.

According to a report by an analyst, due to the COVID19 outbreak, more than 15000 retail stores and small businesses may permanently stop their functioning. In a recent blog post, the economic policy institute said the COVID19 pandemic can affect more than 3 million jobs by this summer.

To avoid this you can take some measures to save yourself, your employee and your business. In this article, we have discussed how COVID19 is affecting small and medium-sized enterprises? And what precautions they are taking to save their business during the crisis?

Take care of yourself and people around

Before moving ahead we would like to tell you that not only your but every human on this planet is distressed about something. Some people are worried about their lives, some are worried about their business, job, family and many more. In a situation like this where COVID19 is growing rapidly thinking about the job & business future may amplify your stress level.

That’s why before making any decision about your business or job sit back and try to alleviate the stress and anxiety. Remember Until and unless COVID19 minimizes we have to protect ourselves from the unwanted pandemic.

It will affect human life, economy, revenue, and more but life is all about fighting. Once the effectiveness of COVID 19 reduces then every human on this plant will fight back to bring things on track. But for now, it’s important to secure yourself from the deadly and highly contagious disease “Coronavirus”. 

Impact of COVID19 on small and medium-sized enterprises (SME’s)

With the increase in the number of coronavirus positive cases, small and medium-sized enterprises have already started to feel the impact on their business. Many are concerned about how they will pay the rent of the store?  And provide the paycheck to their employees.

A recent survey found that 76% of the small businesses with employees between 0 – 200 have been hit by the COVID19 pandemic. Most of the retail stores and small companies have stopped their functioning. Because of that their cash flow has been abrupted badly.  If you look at the stats, many small businesses working in the tech market have been hit badly in the month of March due to the rise in the COVID19 cases.

Due to the COVID19 pandemic, many companies are facing problems in paying the rent and other due amounts. Even if the landowner allows to defer the rent for two or three months, businesses may face difficulties in paying the due amount. These types of difficulties are forcing small businesses to permanently close their business.  Until now no one knows how long this disease and its impact are going to last. Read more on

https://www.sfwpexperts.com/how-small-and-medium-sized-enterprises-smes-are-getting-affected-by-covid19-pandemic-what-they-are-doing-to-avoid-those-losses/

Other Blogs Link:

How COVID19 Pandemic Is Affecting Marketing And Advertising Industries?

Assistance Offered By The Federal Government To Help Small Businesses Fight COVID19 Crisis