March 28, 2020
As we look around at what the country – and the globe – faces in the midst of the Covid-19 crisis, we are increasingly encouraged by the offers of support and help. Companies are seeing an immediate need and then filling it—often retooling their businesses to do so. Individuals, organizations and communities are pulling together in extraordinary ways.
The massive $2 trillion stimulus package – the largest emergency aid package in U.S. history – was signed into law on Friday. Of note for small businesses and workers is the Paycheck Protection Program (PPP), which will provide forgivable loans (essentially grants) for small businesses who maintain their payroll during this emergency.
Two SBA programs are also available to help businesses affected by Covid-19. The Economic Injury Disaster Loan (EIDL) program, available now, offers low-interest loans of up to $2 million to help businesses affected by Covid-19. And the agency’s emergency EIDL grants will provide businesses that apply for an EIDL loan up to $10,000 in quick access capital.
We continue to review and research the financial relief programs available for small business, and we remain committed to sharing information as quickly as possible to help our portfolio companies navigate these uncertain times.
While we are heartened by the relief packages going directly to help small businesses cover their bills, pay employees, and keep the doors open during these tumultuous weeks and months to come, we also understand that worry and doubt remain. More resources and financial support at every level may well be needed to shore up small businesses and households. And as that happens, we will continue to communicate and share information, encouraged by the resiliency and support we see every day.
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.
