Resources for Business Owners During COVID-19
March 26, 2020 | News
We know that many integrative healthcare providers are being impacted by COVID-19, both personally and professionally. We have heard from providers that have had to temporarily close their practice to ensure proper social distancing. We deeply appreciate the care and concern providers are showing for their patients and the general public during this challenging time of uncertainty.
We have compiled the following list of information and resources to assist providers during COVID-19:
- The U.S. Small Business Administration has an Economic Injury Disaster Loan Program. Small business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan due to COVID-19. For more information on the SBA’s Economic Injury Disaster Loans at https://www.sba.gov/disaster
- Studentaid.gov, the federal website for information on student loans, has issued a Q&A for borrowers regarding federally held student loans. Per that website, “All loans owned by the U.S. Department of Education (ED) will have interest waived. That includes Direct Loans, as well as Federal Perkins Loans and Federal Family Education Loan (FFEL) Program loans held by ED. Please note that some FFEL Program loans are owned by commercial lenders, and some Perkins Loans are held by the institution you attended. These loans are not eligible for this benefit at this time.” For more information, visit https://studentaid.gov/announcements-events/coronavirus#borrower-questions
- Most states have set up website with information for employers and employees that addresses questions related about unemployment due to COVID-19.
- Facebook has announced a Small Business Grants Program to provide $100 million in cash grants and credits. You can find more information on this program at https://www.facebook.com/business/boost/grant.
- Many credit card companies are offering waived fees, credit line increases and collection forbearance to affected customers. The Simple Dollar has a list of major financial institutions and their responses and offers at https://www.thesimpledollar.com/financial-wellness/coronavirus-financial-assistance/
- The federal tax deadline for all taxpayers and businesses has been moved to July 15, 2020. This only applies to federal taxes. Check with your state to see if they are making a similar move.