Government and health officials are currently working alongside one another to maintain the security, health,and safety of all of the citizens of the United States of America. When it comes to small businesses, they are being encouraged to do their part in order to help with keeping their customers, employees, and themselves as healthy as possible.
Small business owners located in all 50 states and territories are now eligible to apply for a low-interest loan due to the ongoing coronavirus pandemic. One of these loans is the Economic Injury Disaster Loan, more information of which can be found by visiting the official website of the Small Business Administration. This specific loan program is designed to provide all small business with working capital loans of up to a total of $2 million that are able to provide vital economic support to small businesses in order to assist them with overcoming temporary revenue loss that they may be currently experiencing.
Another type of loan that small businesses will be able to take advantage of is the Express Bridge Loan, which is designed to allow small businesses that currently have a business relationship with an SBA Express Lender to be able to access up to $25,000 by dealing with a less amount of paperwork. This type of loan will be able to provide a vital amount of economic support to small businesses in order to assist them with overcoming temporary revenue loss that they may be currently experiencing while, at the same time, waiting for decision and disbursement on an Economic Injury Disaster Loan. The terms of this type of loan are as follows:
*Up to $25,000
*Will be repaid either in full or in part by proceeds obtained from the EIDL loan
Perhaps the most up-to-date information regarding the ongoing coronavirus pandemic is offered by the Centers for Disease Control and Prevention in terms of what is currently known in regards to the illness.
In terms of the recommended strategies that all employers, including those who own and operate small businesses, should use, it’s important to make note of the following:
*Employees who are sick with any kind of illness should be encouraged to stay home.
*Employees who are sick should be separated from those who are healthy.
*Factors such as respiratory etiquette, hand hygiene, and staying home when sick should always be emphasized.
*Employees should always be properly advised prior to partaking in any kind of traveling.
*Any employees who are healthy but will be taking care of a family member who has contracted the coronavirus should notify their supervisor.
*In the event that an employee is confirmed to have contracted the coronavirus, it is the responsibility of an employer to inform other employees of their possible exposure to the illness while also maintaining confidentiality as required by the Americans with Disabilities Act.
Some of the most common issues that are experienced by small businesses in terms of issues such as this can include the following:
*Inventory/supply chain shortfalls
*Cleanup costs/facility remediation
*Insurance coverage issues
*Changing market demand