Thank You Corona Virus ! !
So if you are anything like me the Corona Virus has shut down your business, or stopped your income and your wondering, what the hell do I do now to pay my bills??
This post is to explore several options that may be available to you.
- SBA Loan for Women. Minimum 620 credit score, no bankruptcies, no foreclosures, no defaulted student loans, no defaulted federal loans of any kind. https://www.fundingcircle.com/us/resources/small-business-loans-for-women/ https://www.sba.gov/size-standards/?ms=nid4788 If you can meat the requirements $25k- $500K they also want collateral like your personal residence. Basically not user friendly at all. For women-owned business loans under $25,000, either 7(a) or Express, no collateral is required. A personal guarantee is required. Other SBA loan programs https://www.fundingcircle.com/us/resources/sba-loans/ most programs like credit scores of 700 or above. https://www.sba.gov/funding-programs/loans/coronavirus-relief-options
- Bank Loan. This type takes into consideration your debt to income ratio and your credit score.
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Unemployment. Yes even if you are self-employed you can now apply under the Department of Labor’s Pandemic Unemployment Assistance Program, make sure you mark the reason as COVID-19. If you are applying in Florida do it at 2 am. Trust me, it took me 15 hours to figure this out, the damn site crashes continuously at normal hours. connectmyflorida.comUPDATE : They are now shutting down the website at 8pm every night and it is not accessible to 7 am the next day. Also, they seem to be shutting it down on weekends.UPDATE: You must file a separate pandemic claim if you are self -employed, and send your 10999, and tax return within 21 days of filing it to FLDEO.
- Stimulus Check. A one time check $1,200 if you earn up to $99,999, and $500 for each child 16 and under. If you are on social security or disability and don’t file taxes you still should be getting a check.
- Small Business Loan. There are multiple programs available. https://www.uschamber.com/sites/default/files/023595_comm_corona_virus_smallbiz_loan_final.pdf?fbclid=IwAR0Ezms22WuTWHvJLRoaSWvRUgwo7MYfOCrHG7q0ds18P5cpMTAnyiM_lFA%F0%9D%97%A3%F0%9D%97%A3%F0%9D%97%A3
- County and City Programs. Some Cities and Counties have established programs to help their local small businesses. Tampa is one such city.
Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761
Phone: (727) 410-2705; email: [email protected]
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