COVID-19 has confronted businesses like yours with unprecedented challenges. The situation is constantly changing, and it is difficult to know what to do next. Office Accomplice wants to help you navigate these tricky times by keeping you up to date. We will be providing regular, brief updates about how the coronavirus affects businesses like yours along with suggestions about your next steps.
As you may or may not have heard, the CARES Act was passed by Congress this past Friday, March 27. This allows money to flow from the Small Business Administration to small businesses in many different ways—which we are still investigating on behalf of our clients. However, one thing we do know is that the loans are all being funded through 7a lenders. So here is the step you need to take today: reach out to your bank and ask to be added to the list of clients who are seeking an SBA loan. As you can imagine, this list will get long pretty quickly, so we want you to get your name on that list ASAP.
We will continue to analyze the CARES act and monitor other developments that relate to your business. Please feel free to reach out with any questions about your individual circumstances. In the meantime, stay safe and healthy!