March 24, 2020
We are keenly aware of the challenges small businesses and households face in the wake of this global health crisis and resulting economic upheaval. During times like these, as demand for resources and answers is high, we hope to be a source of information and support for small businesses looking for relief.
While a massive stimulus package to help small businesses is still being worked out in Washington, and state legislatures are taking steps to address the economic threats of coronavirus, one program has already been put into place that may be able to provide relief. The Small Business Administration’s (SBA) Economic Injury Disaster Loan program offers low-interest loans of up to $2 million to help businesses overcome temporary loss of revenue.
Any small business in disaster-declared areas—which now comprise all 50 states—can apply for this program to help cover payroll, accounts payable or other working capital needs.
Of course, we understand that no one program will be a panacea. Households and businesses are taking devastating economic hits from this crisis. That’s why we are here, and will continue to help. We know from our nearly three decades of driving capital to small business in the toughest of places, in some of the toughest of times, that getting money into the hands of small business so that they can stay afloat is necessary to keep people employed and communities strong.
As always, but especially now, we will do our best to provide guidance and resources for small businesses and their employees impacted by the coronavirus shutdown. Look for continuing support and communications from us as programs and resources roll out. Thank you for your trust in our firm.
With care and support,
Scott Murphy
The investments, portfolio companies and recommendations listed on this website represent only a sample of companies that have received investment capital from Advantage Capital-related entities. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the securities highlighted herein or contained in any other information provided by Advantage Capital. Past performance is no guarantee of future results. For a full list of companies, please click here.
