The Small Business Administration (SBA) has launched an emergency loan program for small businesses.
Many businesses are worried about the drop in customers and revenue that they are already seeing. The good news is that the government recognizes this and is trying to be proactive. More help will surely be coming. The bad news is that it is going to take some time before anything is really launched and available.
The Small Business Administration (SBA) has launched an emergency loan program for small businesses. It is only available in a handful of places right now, and Alabama is not yet one of them.
More info:
https://www.sba.gov/disaster-assistance/coronavirus-covid-19
The City of Birmingham has launched the public/private Birmingham Strong Fund, intended to offer loans and assistance to small businesses and others. As of yesterday, the City appropriated $1.2 million to start the fund.
Inc. magazine is keeping an updated article on efforts to provide financial assistance to businesses.
More info:
https://www.inc.com/kevin-j-ryan/coronavirus-resource-list-for-businesses.html
The Alabama Department of Revenue is offering some sales tax relief for small retail businesses.
