This week we’re taking a look at how small business owners and households can not only survive, but also thrive amidst the COVID-19 related economic downturn. More specifically, we cover resources available to small businesses including the CARES Act Paycheck Protection Program, the Federal Reserve's Main Street Lending Program, the Small Business Administration (SBA) Economic Injury Disaster Loan (EIDL) Program and other financial resources available to small business owners.
We also discuss resources available to individuals and households including the CARES Act stimulus payments to individuals and households, additional unemployment benefits and support for student loan debt payments. Setting yourself up for a financial rebound will be key during a downturn if you’ve lost your job.
We discuss some things to do right away if you've lost your job, including checking in with your lenders and/or landlord and balancing financial survival with long-term consequences. We also provide some tips for people still fortunate enough to have a job, including the need to create an unemployment action plan and developing a renewed vision for your financial future after this seismic shift.
Finally, we briefly discuss how you could use your stimulus check to support small businesses and the secret to thriving during a period of financial uncertainty: taking action today.
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