Are you looking for actionable, concrete advice to help your business during the COVID-19 pandemic? You’re have landed in the right place. This resource center for SMBs from B2B marketing agency Boundify, features business advice on options available to business owners and marketing professionals to navigate these tumultuous times better. Sign up here for updates.
[Last updated: March 30, 2020]
This popular SaaS tool that allows you to connect and create workflows between web apps as announced its COVID-19 assistance program for their most impacted small business customers. On top of their previously announced free upgrades to Zapier Starter plans, they are committing $1 million to help those how to apply with a free 3-month credit for a Starter plan.
You can apply if you are a current customer, you can apply here.
One of the leaders in the SaaS applications space for business, Zoho recently announced its Small Business Emergency Subscription Assistance Program (ESAP). The program aims to help up to 20,000 companies worldwide, providing credits worth three times the subscriber monthly spending with Zoho.
In addition to this program, they are providing for free a set of productivity and collaboration apps to help companies enable remote work. The suite, called Remotely, will be available for free until July 1, 2020.
While not formally launched yet, Facebook announced a $100 million program in the form of grants and Facebook Ads credits for up to 30,000 eligible small businesses. The program reach will include the 30 countries where the social media giant operates. They will be taking applications in the coming weeks; in the meantime, you can sign up to receive more information here.
They have also launched a resource hub to help business owners build resilience during the COVID-19 outbreak. The micro-site includes suggested steps to take, a toolkit with best practices and tools to protect businesses from interruptions, and a quick action guide for developing an emergency response plan.
On March 27, 2020, Sundar Pichai, CEO of Google and Alphabet, announced an $800+ million commitment to support not just small businesses, but also health organizations, governments, and health workers on the frontline of the coronavirus crises.
As part of the commitment, the program includes a $340 million program in the form of Google Ads credits available to all SMBs who advertise through Google Ads with an active account since the beginning of 2019.
The commitment also includes a small business fund that offers $125 million in relief to support the short-term recovery and long-term financing needs of owners.
The CARES Act, passed by Congress and signed by the President into law on March 27, 2020, includes specific programs to help small businesses across the country. While details continue to emerge as banks, institutions and individuals dive into the legislation, here is what we know as of today:
Also known as PPP, the Paycheck Protection Program is a $350 billion effort to help businesses with fewer than 500 employees impacted by the COVID-19 pandemic to make payroll from February 15 to June 30. A small business can take up to $10 million (tied to payroll) and cover up to $100,000 per year per employee. It includes a forgiveness component when used for payroll, interest payments on mortgages, rent, and utilities.
You can get more information and learn how and when you would be able to apply directly from the department of the treasury website here.
Stripe Capital, a recent product offering from the global online payment processor, Stripe, offers a novel model of financing for businesses. Instead of lengthy applications, eligibility is based on your transaction history with Stripe. Repayment is automated and adjusted to your sales. They promise a flat fee, a fast application, and resolution.
At the moment, the product is being offered to selected businesses in the US, and you can learn more about it here.
More information soon...
More information soon...