Heres how small businesses affected by the coronavirus can get assistance.
A slew of major banks and credit-card issuers announced steps they will take to support their customers.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
The Penny Hoarder compiled a list ofbanks that announced coronavirus-related assistance.
Emergency Government Assistance
Three major initiatives aim to provide economic relief to individuals and businesses.
Though aimed broadly at household assistance, the new law changes much for employers with less than 500 employees.
According to the U.S. Treasury, the deferment will free up an estimated $300 billion.
On Friday, March 20, Mnuchin announced thefiling deadlineis also extended to July 15.
The funds will come automatically, and the extra cash is expected to spur economic activity.
The CARES Act padded that sum with an extra $10 billion.
The interest rates for disaster loans are 3.75% for businesses and 2.75% for nonprofits.
Funds are available in as little as three days of a successful app.
Qualifying organizations shouldapply onlineor reach out to the SBA for assistance at 18006592955.
Adam Hardy is a staff writer at The Penny Hoarder.
He covers the gig economy, entrepreneurship and unique ways to make money.
Read his latest articles here, or say hi on Twitter@hardyjournalism.
When you log into your bank account, how do your savings look?
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
