Small Business Resources During COVID-19
Running a small business has never been easy, but it feels especially overwhelming and uncertain in the midst of a pandemic.
We’re using this page to share relevant and valuable information and help you navigate this challenging time. Our team is collaborating remotely and committed to helping our partners succeed. Reach out at (503) 477-9298 for assistance.
SBA loan opportunities under the CARES Act
Congress recently passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This package specifically allocated $10 billion for Economic Injury Disaster Loans and $350 Billion for Paycheck Protection Loans to help small businesses.
Update: The Senate recently approved a second round of funding — $310 billion in new SBA PPP loan money. $250 billion refills the program and $60 billion is set aside specifically for smaller institutions like credit unions and community banks. Apply as soon as possible, while funds are still available.
Paycheck Protection Program (PPP)
Under this CARES Act program, the SBA will back small-business loans through local lenders. This loan offers generous forgiveness provisions and no personal guarantee or collateral is required for the loan.
Update: PayPal is now accepting PPP loan applications, with a turnaround time as fast as 8 hours. If you’re having trouble getting funding through your bank, consider applying through PayPal instead.
Economic Injury Disaster Loans (EIDL)
This loan has always been available to businesses in the event of a disaster. However, this is the first time a virus or pandemic event has been defined as a disaster. The provisions of this type of loan have also been expanded, making it easier for small businesses to get approval.
- Coronavirus (COVID-19): Small Business Guidance & Loan Resources (US Chamber of Commerce)
- Coronavirus Emergency Loans Small Business Guide and Checklist (US Chamber of Commerce)
- Getting Cash For Your Small Business Through The CARES Act (Forbes)
- COVID-19 Relief: Understanding SBA Loan Opportunities Under the CARES Act (Pillsbury Law)
Resources from the US Chamber of Commerce
Coronavirus Small Business Guide
This guide offers up-to-the-day coronavirus coverage to help businesses succeed during the pandemic. There are many great articles and helpful tips featured here!
Coronavirus Communication Toolkit
The US Chamber of Commerce has provided templates, social graphics, flyers, and key messaging to help small businesses best communicate to their employees and audience during the pandemic.
Google Ads credits
Google recently announced its intention to support small and medium-sized businesses during the Coronavirus pandemic. Included in this commitment is $340 million in Google Ads credits.
These Google Ads credits are available to all small businesses with active accounts over the past year. The credits will be valid across all Google advertising platforms until the end of 2020. Google says that advertisers will be notified and receive their ad credits in the coming months.
For our clients, we’ll be monitoring your accounts and notify you if/when you receive these credits. Please let us know if you have any questions.
Marketing during COVID-19
First and foremost, keep your clients, customers, and patients informed and updated. Let them know the steps your business is taking, particularly if that includes changing hours, operating on a limited basis, or shutting down completely.
At Delmain, we can help you:
- Add a banner or notice to your website
- Update your Google My Business (GMB) hours
- Send an email announcement
- Post company updates on your GMB and social media accounts
- Create ad campaigns focused on your new/updated operating hours or services
During this time, remember that online marketing is a highly competitive space. If you’re not actively moving ahead, you’re falling behind. A period of change may be a great opportunity to focus on key elements of your online marketing strategy:
- Content — Audit content, look for opportunities to update, optimize, and create new content. Spend extra time revamping or focusing on your social media accounts
- Videos — Create videos that celebrate your company, highlight services, answer questions, and support blog content
- Reviews — Respond to reviews and encourage new reviews
- Remote services — Consider chat widgets, telehealth options, virtual consultations, webinars, etc.
- Build awareness — Now is a great time to strengthen bonds with your community and build awareness. Look for resources or services you can provide during this time and add value to your audience.
Delmain is here to help
The best thing we can do during this period of uncertainty is to support each other. Delmain is here to help in whatever way we can. The resources listed on this page have been useful for Delmain and we hope they can benefit your own small business in the days and months ahead.