Federal Programs to Support Businesses Impacted by COVID-19
Find out how you can safeguard your organization
Small- and medium-sized businesses are scrambling to navigate the impact of business disruptions and lost traffic during the coronavirus (COVID-19) outbreak. At Infintech, we’re committed to helping these merchants navigate this difficult time by sharing vital business information. The following is a list of federal assistance programs that are providing support to small- and medium-sized businesses.
1. Economic Injury Disaster Loans (EIDL) Loans
The U.S. Small Business Administration (SBA) EIDL loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary loss of revenue.
- For businesses with 500 or less employees
- Businesses include sole proprietorships, independent contractors and self-employed persons, private non-profit organizations or 501(c)(19) veterans organizations
- The loans can be used to pay fixed debts, payroll, accounts payable and other bills
- This loan advance will not have to be repaid
Click here for the official SBA program details.
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