Resources for startups and employees effected by COVID, Quarantine, and economic-related slowdowns.
The US government passed the $350-billion Coronavirus Aid, Relief, and Economic Security (CARES) Act. The program is focused on helping American small businesses cover up to 8 weeks of cash flow in the form of federally guaranteed loans.
There are two key types of loans that startup founders & small business owners should consider.
As a startup founder, or small business owner, the easiest way to get funding is via the Paycheck Protection Program.
This is designed as an emergency loan for small businesses to cover payroll, rent and other essential business operational expenses.
This handy calculator from Nathan Latka will show you how much you can borrow.
The EIDL loan involves much more paperwork, and is not necesarily forgivable. We recommend only applying for this loan if you have been rejected for the PPP.