From bars and restaurants to barbershops and beauty salons, small businesses are the essence of Brickell and Downtown Miami.
With the coronavirus (COVID-19) rattling the world to its core, small-business owners have a lot on their plate. Aside from taking the necessary precautions to stay healthy, they also have to figure out how to keep their businesses afloat.
As the entire global economy grinds to a halt, and with everyone practicing social-distancing, the latter seems like an increasingly impossible task. That’s why it’s important for the community to stay informed on resources that can help their businesses during these trying times:
1) U.S. Small Business Administration
The SBA is offering low-interest disaster loans to small businesses suffering substantial economic loss due to COVID-19. To see if your business is included in the designated states and territories, or to find out more information about the SBA, click here.
2) Florida SBDC
The Florida Small Business Emergency Bridge Loan Program is available to small businesses in Florida who have experienced economic damage as a result of COVID-19. They are assisting with short-term working capital loans to help “bridge the gap” between the time a major catastrophe hits and when a business has secured longer-term recovery resources.
Applications will be accepted through May 8th, 2020, contingent on the availability of the funds.
For more information or to apply, click here.
3) US Chamber of Commerce Foundation
The US Chamber of Commerce Foundation has been closely monitoring the impact COVID-19 has had on small businesses and the local economy. You can contact the Disaster Help Desk for Businesses for more information on how to prepare your business, federal resources, and long-term recovery advice. To speak to an expert who can assist you, dial 888-MY-BIZ-HELP.
You can click here for more resources available to small businesses.
4) Florida Department of Economic Opportunity
Governor Ron DeSantis announced the activation of the Business Damage Assessment survey to asses the impact COVID-19 has had on local businesses. The survey is intended to evaluate the damage caused and the impact the virus has had on the local economy. The survey will help implement appropriate relief programs.
To take the survey, click here.
5) Florida Small Business Development Center (SBDC) at FIU
The Florida Small Business Development Center at FIU is offering confidential, no-cost advising to business owners impacted by COVID-19. For more information on the program and its services, click here.
To receive regular updates on disaster-relief information, business owners can email sbdc@fiu.edu and request to be added on the list.
6) Florida Department of Economic Opportunity
The Short Term Compensation Program is a voluntary employer program designed to help employers maintain their staff by reducing the weekly working hours during temporary slowdowns instead of temporarily laying off employees. For more information, click here.
7) Facebook announces $100 million program for small businesses
The program is available for up to 30,000 eligible small businesses in over 30 countries. Facebook will be accepting applications in the coming weeks, so as of right now there is no link to the application available.
We will be monitoring available resources and updating this list as needed. Stay safe, stay healthy, stay home and help Flatten the Curve.
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