Are you in need of Rescue? The SBA may be your Shelter.
Over the weekend, a Post showed up on my Facebook Page from an area dog rescue group. The words caused me to paws and reflect:
“For those quarantined: Stuck inside most of the day? Miss your friends and family? Boredom taking a toll? Lonely? Depressed? Stressed? Confused? Scared? Welcome to the life of a shelter animal.” For most of us, this is now our new reality.
As a business, particularly those not deemed “essential”, there is hope to bring you to the other side of this pandemic.
I felt the best Blog today would be one that simply lists out all the options for accessing the current programs and agencies that can assist you. It is in these times of Disaster that the US SBA, Small Business Administration, steps up and takes over the helm for assisting companies. Here are some of the essentials to know for your business:
The SBA Buffalo District Office is hosting a webinar on SBA’s Economic Injury Disaster Loan program for 8(a), HUBZone, SDVOSB and WOSB/EDWOSB certified firms: Economic Injury Disaster Loan (EIDL) Program
Tuesday, March 24, 9:00 a.m. – 10:00 a.m.
Toll number: +1 (929) 341-4269,,776068174# (Dial-in Number)
You may also contact the SBA Disaster Customer Service office at 1-800-659-2955 or by email at disastercustomerservice@sba.gov.
Small business resource partners may be contacted for assistance at https://www.sba.gov/local-assistance.
Follow their twitter at @SBA_Buffalo.
You can apply directly with the SBA via mail or directly online. Unsecured loans are in the amount up to $25,000. $25,0001 - $2,000,000 must have collateral offered. From the date of application, loans are expected to be processed in 21 days. Small to mid-sized businesses, agriculture, aquaculture cooperatives and private nonprofits are eligible for the loans. The interest rate is 3.75% for small businesses and 2.75% for nonprofits.
SBA.Gov is truly the best place for you to research, review and decide what is right for your business.
Besides the SBA, contact your local branch or banker, most are still available through email or phone. They will be able to advise what policies your particular bank has put into place during this pandemic. If you do not like the answer from your current bank, you may wish to try a local credit union or a small community bank. Often, they will provide options you may not see if you are with a larger bank.
We are all navigating unchartered waters, but the SBA is organized to help small businesses and its Disaster Relief Efforts have historically been well received and well regarded in times of unease. Please reach out to them and help charter a new course for your company and we will see you on the other side of this!
Stay well and you may wish to consider fostering an animal from your local shelter while you are working from home. They would appreciate the home atmosphere and you might just find a therapy animal or a furever friend!
