As small business owners face the reality of temporarily shutting their doors and finding new ways to generate revenue amid the COVID-19 outbreak, both government and private institutions are offering aid to help those that qualify.
The U.S. Small Business Administration (SBA) has initiated a federal disaster loan program available during and after the COVID-19 outbreak, according to its website. The SBA said it is offering up to $2 million in Economic Injury Disaster Loans to small businesses in eligible areas affected by the virus.
Those interested can find more information through the SBA disaster assistance customer service center at 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail [email protected]
Meanwhile, Facebook recently announced it is offering $100 million in cash grants and ad credits to those small businesses affected by the COVID-19 pandemic. With the announcement, Facebook has also launched the Business Resource Hub as a service that will include virtual training for those utilizing Facebook as a way to keep their businesses operating.
“We’ve listened to small businesses to understand how we can best help them. We’ve heard loud and clear that financial support could enable them to keep the lights on and pay people who can’t come to work. That’s why today I’m announcing that Facebook is investing $100 million to help 30,000 small businesses in over 30 countries where our employees live and work,” Facebook’s chief creative officer Sheryl Sandberg said in a statement.
For more information, retailers can visit the Facebook Business Resource Hub.