How to Survive the Pandemic Financially
Well here we are, your business is limbo and you’re looking for answers to help yourself and family. Here are some things that will help you survive the pandemic financially.
Economic Injury Disaster Loan or EIDL are low-interest federal loans of up to two million dollars that are to pay for expenses that could have been paid if a disaster or pandemic did not occur, these expenses would include payroll, invoices and other expenses for operating a business
The Corona Aid Relief and Economic Security (CARES Act) is an advance of up to $10,000 for any person who applies for an Economic Injury Disaster Loan. This advance does not need to be paid back, which ia great for a business owner, you can use the money to keep employees on your payroll, pay for any outstanding invoices, rent or mortgage on your building. When filling out the application you can select this option at the bottom of the application. Basically, you get $1,000 per employee so if it’s you, and three others you get $4,000. The max on this grant is 10 persons who work for you.
Everyday More families are being affected by this Pandemic