PPP, EIDL, Cares ACT, Oh my!
This is a turbulent time to be a business owner, and unfortunately there was no foreseeing the scenario we find ourselves in now. The important thing, however, is to remember that we're not alone in this and that there is assistance to help your business stay afloat in the midst of this crisis.
What funding is there?
You have likely seen the news reports relating to the emergency funding being passed through our government, as well as existing aid for business owners, being announced. In early April, through the CARES Act, the Paycheck Protection Program (PPP) was instituted, making loans available for small business owners. The Economic Injury Disaster Loan (EIDL), which is a standing program through the Small Business Administration (SBA), is available for small business owners during any disaster.
Learn the difference between government fundings available for your business.