Most Business Owners have heard that there has been emergency funding made available, thanks to the quarantine effects from the Corona Virus. We were all witnesses to the President’s address and announcement of it being accessible. Cities, such as Chicago, have now also made over $100 million in small business loans available to small business owners and grants have also been made available through large corporations in support of Small Business owners such as Facebook.

We are here to help you know the details behind these funding announcements also introduce other avenues in which you may get funding if the timing or pre-qualifications of any of the funding options mentioned doesn’t apply to you and your business.

Option #1 – Federal Emergency funding that has been activated by the President of the United States of America. This funding for small businesses is currently taking an estimated time frame of 8 weeks for receipt. There are several factors to qualify, and only businesses that can show they have been negatively impacted by the COVID-19 epidemic may qualify.

Option #2- City level Funding. Check your City newspapers and news channels for city level funding that has been announced. It is likely that it will take a while for both the application process and funding to become available. The funding also has priority to local businesses in need.

Option #3 – Emergency Grants. Facebook has announced $100 million in grants for Small Business Owners. At the time of this article, applying is not yet an option but it will be soon!

Option #4- Other SBA Loans that are readily available. They may be easier to obtain, and they are certainly faster to receive than the Emergency Grants and Loan Options mentioned. Schedule a consultation and we will help you to connect you to the best lender for your needs.

Option #5- Business Credit Cards. Business Credit cards does not require as high of a credit score and banks are currently a bit more lenient due to the state of the economy. Schedule a consultation and we will point you in the right direction!