While the government cash infusion into small businesses is vital right now, other parts of the small business community are stepping up to offer their services in these unusual times.
SCORE, a small business consultation firm is offering free consultations in navigating the various programs offered during the pandemic. Mentors are available for free, remote consultations for any small business owner. Help is being offered to navigate Covid-19-related questions and concerns, including how best to apply for the Paycheck Protection Program loans and the economic injury disaster grants offered by the federal government, and figuring out how best to use the funds, if approved. If a small business is not approved for any of the federal aid it seeks, SCORE will help it figure out next steps, including finding alternate sources of funding.
Intuit has a site – Intuit Aid Assist – where you can find out if your business is eligible for the Paycheck Protection Program, how much will be loan and how much forgivable. They even have a calculator to understand how much a business would be eligible to receive.
Crowd Sourcing has also gotten into the mix with sites like the GoFundMe Small Business Relief Initiative where businesses can start a fund, reaching out to clients and the community for help keeping afloat until the economy opens up.
According to Fundbox, small business clients make final payments 30 days or more after a job is done. That’s why Fundbox and other companies serving small businesses have launched a campaign called #paytoday to encourage big companies and government agencies to accelerate their payments to small business vendors.