As champions for small businesses, we at Volusion are committed to providing you with helpful information and resources for navigating the COVID-19 pandemic. In this post, we break down financial assistance for SMBs.
How SMBs Are Handling Financial Hardships
Small businesses continue to reassess their budgets for 2020 while looking for financial relief from the economic turndown.
Statistics
- 27% of U.S. Small Business Owners believe Coronavirus will impact revenue
- 52% of U.S. Small Business Owners say they are taking measures to prepare for an economic slowdown
- 30% of U.S. Small Business Owners expect the virus to have a moderate to high impact on their supply chain
Industry News
- Google Gifts $800M to SMBs, Health Care as COVID-19 Spreads
- 78% of Companies Signing Up for a New Individual Coverage HRA are Small Businesses
- Facebook announces $100 million program for small businesses impacted by coronavirus
- Small Business Relief Tracker: Funding, Grants, And Resources For Business Owners Grappling With Coronavirus
- Small Businesses To Washington: Please Send Money Soon Or We Won't Survive
- Top SBA Lenders Could Benefit From Coronavirus Stimulus
- Tech lenders push for a piece of the coronavirus, small-business bailout
- Small Businesses Seek a Crisis Lifeline Beyond Loans
- Detroit Landlord’s Small-Business Survival Plan: Free Rent Until July
- 5 creative ways small businesses are trying to stay afloat
- Five steps to save small business during the pandemic
- Virus Hurting Business at Three-Fourths of Small U.S. Companies
- For Small Businesses, It’s a Virus Chain Reaction
- U.S. Workers, Businesses Lack Funds to Tide Them Over Until Help Comes
Volusion Merchant Spotlight
Volusion merchant Antonelli’s Cheese Shop has adjusted their business offerings to maintain sales during these uncertain times. In addition to continuing to ship their products—including gift cards and monthly cheese club memberships—across the US, Antonelli’s has extended their offerings to include:
- Contactless Curbside Trunk Pickup for local customers in Austin
- Free Favor Delivery for local customers in Austin
- Social Distancing Care Packages
- Virtual Cheese-Tasting Classes
- Cheesemonger Live virtual shopping appointments
Financial Aid for SMBs
Below, you will find links for financial assistance currently being offered for small businesses. New links begin with an asterisk, and we will update the list as new resources become available.
Small Business Administration
- SBA Small Business Loans - Disaster Assistance
- SBA to Provide Disaster Assistance Loans for Small Businesses Impacted by Coronavirus (COVID-19)
- Small Business Administration Economic Injury Disaster Loans
- Disaster Loan Declarations
- Paycheck Protection Program
Internal Revenue Service (IRS)
State/Local Government Assistance to SMBs
Ad Credits & Grants
- COVID-19: $800+ million to support small businesses and crisis response
- Verizon and LISC Come Together to Support Small Businesses with COVID-19 Recovery Fund
- Amazon’s COVID-19 blog: daily updates on how we’re addressing the crisis
- Facebook Small Business Grants Program
- Yelp’s COVID-19 Response and Support for Local Businesses
- The Small Business Relief Initiative and Fund FAQs
- Small Business Relief Fund
- The Food and Beverage Industry Relief Fund