Chicago Website Design SEO Company, a digital marketing agency based in Illinois, is taking measures to raise awareness regarding the stimulus packages available for small businesses that are likely being affected by the COVID-19 pandemic. With a variety of lockdown measures being put into place around the nation, many businesses will need help in order to survive until the current crisis is concluded. As such, Chicago Website Design SEO Company hopes that their outreach program will help small business owners and self-employed parties learn whether or not they qualify for aid.
The company wishes local businesses to know that they may be eligible for $10,000 or more in relief funds, assuming that they fulfil certain criteria. If the entity in question is a self-employed individual, has a supplementary source of income, is a 1099 employee or is self-employed and writes people 1099s, they may qualify for Economic Injury Disaster Loans (EDIL), which comes at no obligation incurred in certain circumstances. According to the company, “The first $10,000 is given you within three days after applying (once the bill is passed) as a grant, even if you get denied for the actual loan. Loans will be between $10,000 to $10,000,000 — which means you could literally get up to $10,000,000 free.”
This emergency relief fund is being disseminated through the US Small Business Administration (SBA), and interested businesses may submit their application at the organization’s official website. Should a small business receive this aid, they will crucially not be required to make any payments for the first six months. Chicago Website Design SEO Company observes that this grace period may even last up to a full year. The terms for the stimulus are reasonable: it holds an interest rate of 4% and may be forgivable under certain conditions. While there is no guarantee that it will be forgiven, the company advises that business owners remember to make the request that it be forgiven if they deem it necessary.
The SBA COVID-19 relief grant application is being offered without any requirement for personal guarantee or collateral, but the funds can only be used on pre-approved expenses. These expenses include employee payroll, retirement, healthcare, vacation pay, sick pay, and so on. While the pandemic will undoubtedly force many businesses to physically remain closed, this emergency aid may well be what they need to remain solvent until they can open their doors once more.
However, the company warns that, “There is a limit to how many people can take advantage of this $10,000 stimulus grant.” They add, “In order to get in line for the first come, first serve $10,000 stimulus grant (SBA EIDL), fill out the form on the SBA website as soon as possible!” As for how much of the stimulus grant can be considered forgivable, the company advises that businesses ensure they exclusively use the allocated funds for their designated purpose (payroll, rent, mortgages and so on) in order to ensure that they can be considered for forgiveness in the future.
Chicago Website Design SEO Company adds, “Even if you have a cash reserve to maintain your business, you may not have enough capital to stimulate new sales when things go back to normal. As a result you may open up again but be in negative cash flow.” As such, the company advises that every business owner take the opportunity to protect their business from an untimely closure.
The SBA has a few distinct requirements for business before they are deemed eligible for a grant. Applicants should not be engaged in any illegal activity, for instance, nor should they be in the business of lobbying. They are also ineligible if they draw more than one-third of gross annual revenue from legal gambling activities. “We encourage you to visit the SBA website immediately,” says the company, “and read carefully through the application form in order to see if you qualify for funds up to $10000. It may be worth your business’ survival to try.”
More information can be found on the company’s website. Those interested are welcome to reach out to Jack Lombardi of Chicago Website Design SEO Company to follow up on any further inquiries. The digital marketing agency can also be reached through their social media platforms.
SOURCE: Press Advantage [Link]
Chicago Website Design SEO Company is a full service digital marketing agency. Website design, SEO (search engine optimization) and digital ads are our core services, which include reputation management but not limited to.
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