Support for Small Businesses During the COVID-19 Pandemic
Unfortunately, scenes like this empty restaurant are all around us right now. Amid the historic COVID-19 pandemic, restaurants, coffee shops and similar institutions, have been required to close their doors or at least prohibit on-site dining and gathering. Most recently, Governor McMaster ordered the closure of all non-essential businesses in SC. And more changes are likely to come in the near future.
Many small business owners are coming up with new ways to serve their clients during these unprecedented times. Limited hours and limited patrons are causing businesses to hurt financially. Not to mention all the people who have lost their jobs because of how COVID-19 is affecting business.
What can be done to help these businesses and the employees? Are their programs that can provide assistance for small business owners during these difficult times? The short answer is yes! But you must reach out and apply for these programs-they won't just come to you.
Grants and Loans for Small Business Owners
The U.S. Small Business Administration
has several programs. They also offer some great resources
and guidance for business owners and employers while navigating these uncharted waters.
Forbes magazine has created a list of COVID-19 Relief Programs. This list includes federal, state and lender-specific programs. Forbes is updating this list on a regular basis as more programs become available.
Hello Alice
is a COVID-19 Business Resource Center. Their site is "Updated daily, with real-world funding, resources, and support for small business owners adapting to the impacts of coronavirus." This site offers a wide range of resources, from financial aid options to anxiety and mental health support.
America's Small Business Development Center (SBDC) Network, in partnership with SBA, has a COVID-19 Small Business Resources
section on their website. They are committed to assisting small businesses with the challenges they face amid the coronavirus pandemic.
Relief for Employees
With all these changes in business operation comes employee lay-offs. There are some programs available for mortgage relief. Forbes has created the Mortgage Relief Tracker: Coronovirus (COVID-19) Relief for Homeowners.
If you are concerned about making a payment to a lender or utility company, contact them directly to see what options are available regarding loan forbearance, late payment forgiveness, or any other options that might ease your financial burden due to the loss of income during this pandemic.
If you have lost your job due to COVID-19, you may qualify for unemployment . Click here for questions related to Coronavirus unemployment benefits.
If you have lost your job and are looking for work, there are some companies actually hiring right now! Take a look at this recent article from the Greenville News highlighting some of those companies.
Where to Get Your Information
It is very important you get your information from trusted, reliable sources during these uncertain times. Trusted sources for frequently asked questions include the Centers for Disease Control and Prevention (CDC), and SC Department of Health and Environmental Control (SCDHEC). These sites are updated regularly to provide the most current information possible.
Additionally, the World Health Organization (WHO) is another trusted source. Their site offers COVID-19 quick links, advice for the public, a situation dashboard and updates, coronavirus myth busters, and much more.
Smallbusiness.com
also offers some great information, including a list of common issues small business owners may face during the COVID-19 pandemic and how to handle them.
What About False Information?
Have you received false information or do you know of fraud related to COVID-19? Make sure you report that! Coronavirus-related (COVID-19) complaints should be reported to the National Center for Disaster Fraud (NCDF) Hotline at 1-866-720-5721 or e-mail at disaster@leo.gov. You can find a list of fraudulent COVID-19 products
on the US Food and Drug Administration (FDA) website.
How Can YOU Help?
There are some things we as Upstate SC residents can do to help.
- Order curbside/take-out service from a local restaurant. Many local restaurants are now offering delivery options as well.
- Buy gift cards now to use at a later time. This can work for retail stores, boutiques, theaters, and arts and crafts studios too.
- Shop locally owned business when possible-both online and off.
- If you are financially comfortable, donate to a local non-profit that is providing assistance to these small businesses or the people who have lost their jobs as a result of COVID-19.
- Donate to a homeless shelter or food bank as their demands have increased while their supplies are decreasing.
- When this has passed and we can socialize and gather again,support these local establishments!
We Are Here For You
Please know that we at Advisors Insurance Agency are here for you during these unprecedented times. We are fully functioning, from home offices, so call, email, or text us with any questions or concerns you may have.
We know many of you have been affected financially due to the COVID-19 pandemic. Contact your Advisor to see if we can do a policy review to find possible discounts. Additionally, many of our carriers are offering leniency programs and/or premium delay options. We can look into those for you as well.
Let's Work Together
At Advisors Insurance Agency, one of our "rally cries" is "Where Coverage Meets Community." Let's work together to get through this. If you are a small business that has come up with new creative solutions to continue operating, let us know what is working! Or, if you are struggling and need to talk about solutions, give us a call or reach out on social media so we can brainstorm together.
Don't go it alone-we are here to support you and your business!
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