Close Menu
  • For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
Facebook X (Twitter) Instagram
Friday, May 9
  • Subscribe
  • Submit Content
  • About Us
    • Contact Us
  • Advertise
    • Display Advertising
    • Email Marketing Campaigns
    • Newsletter Advertising
    • Sponsored Content
    • Lead Generation Services
  • Top Product Sources
Facebook X (Twitter) Instagram
WholesaleCentral.com Blog
  • For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
WholesaleCentral.com Blog
Home»For Buyers»Retail News»How Businesses Are Coming Together to Help Those Affected by COVID-19
Retail News

How Businesses Are Coming Together to Help Those Affected by COVID-19

Krystina MorganBy Krystina MorganMay 26, 2020Updated:January 19, 20234 Mins Read
Facebook Twitter Email
Share
Facebook Twitter Email

In the wake of all the business closures, lockdowns, and cases popping up all over the world, it can seem hard to find the silver lining in all the coronavirus madness. But in all actuality, there is a small but powerful silver lining, and it’s how many people are coming together to offer help and aid for those in need.

So many different companies and organizations are coming together and offering small businesses the financial help they need to get through these troubling times. Between advice, money and loans, and free supplies, it’s nice to see the good in this world after so many bad news headlines.

Small Business Administration’s Paycheck Protection Program

Probably one of the most beneficial programs for small businesses during this time, the PPP is designed to give companies funds with which they can retain or rehire employees. Starting on April 3rd, this $349 billion emergency loan program provides forgivable loans up to $10 million to small businesses left financially distressed by the coronavirus pandemic.

The loans, which will be administered at the local level by a national network of banks and credit unions, are designed to maintain the viability of millions of small businesses struggling to meet payroll and day-to-day operating expenses. “If businesses use the loan to pay rent, utilities and payroll for eight weeks after they start the program, they can have the loan forgiven,” Steven Dickinson, International Practice Group attorney at Cozen O’Connor, said.

It’s super easy to apply for. All businesses have to do is apply through their bank and provide all of the information on their expenses. It’s then up to the bank to approve the loan. More information on the PPP as well as additional funding resources for your business can be found at www.sba.gov.

Small Business Resource Pages

Besides the Small Business Administration, tons of other organizations are offering COVID-19 resource pages on where businesses can get loans or grants, survival guides, support programs, and other helpful links. NY NOW (www.nynow.com/attendee-resources) has such a resource page with over ten links available to retailers, offering helpful marketing strategies, using this downtime to prep your business, and other business-related news that can be useful to indie retailers.

The National Retail Federation also has a resource page for small businesses, and retailers can even sign up to get COVID-19 updates directly to their inbox. Other resource links include those to loan and financial information. Other resource pages include those from America’s SBDC, The University of Chicago, The Tennessee Department of Economic & Community Development, and The Wisconsin Economic Development Corporation, among others.

eBay Launched “Up & Running” Program for Small Businesses

On April 2nd, eBay launched this new accelerator program designed specifically to help retailers without an ecommerce presence transition to selling online, pledging up to $100 million in support for small businesses across North America, according to a press release. Through the program, eBay will give new businesses a free basic eBay store for three months, offering access to the marketplace’s 180 plus million buyers around the world. All retailers have to do is create an account here: reg.ebay.com/reg/PartialReg, and then follow the steps on how to get started here: pages.ebay.com/seller-center/run-your-store/set-up-your-store.html.

Citizens Bank Offering $225,000 for Nonprofits & Small Businesses

As part of the relief efforts from the pandemic’s economic fallout, Citizens Bank announced in early April that they will be offering $225,000 to assist nonprofits and the small business community in Connecticut. The bank will direct more than $5 million to support relief and recover across its overall footprint, in addition to removing programming restrictions for nonprofits, and provide $175,000 that will go directly to small businesses across Connecticut, according to a press release.

This is only a handful of what communities and organizations are doing to help out small businesses across the nation. Let’s continue to look on the bright side and focus on good news until this pandemic is over.

COVID-19 May 2020 Issue small business
Share. Facebook Twitter Email
Previous ArticleImplementing New COVID-19 Policies in Retail Stores
Next Article CBD Lotions to Keep Hands Soft and Hydrated During COVID-19

Related Posts

Online Marketing Calendar for 2025: Don’t Miss These Critical Dates

December 17, 2024

5 Essential Tax Season Preparation Tips

January 24, 2024

7 Tips for Wholesale Inventory Management

January 23, 2024
Sign Up for Buyer Updates
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

how-to
Wholesale 101 for Buyers

Amazon Return Pallets For Sale: How to Profit

11 Mins ReadUpdated:August 9, 2024

A big trend among some online sellers is buying Amazon return pallets and overstock and…

Retail News

5 Essential Tax Season Preparation Tips

10 Mins ReadUpdated:August 8, 2024

Are you ready for tax season? April 18 is approaching quickly, and many day-to-day decisions…

Ecommerce

7 Steps to Create Successful Shipping for Your Business

6 Mins ReadUpdated:August 8, 2024

by Sidney Karanja Today’s business environment is more globalized and complex than ever before. In…

Product News

Overstock Liquidations

6 Mins ReadUpdated:August 9, 2024

Overstock inventory refers to the excess goods or merchandise that a retailer has on hand…

Latest Posts

Crafting a Marketing Strategy for Electronics Retailers

January 21, 2025

Effective Digital Marketing Strategies for Health & Wellness Brands

January 21, 2025

Mastering Beauty Ads: 10 Strategies for Engaging Your Audience | Blog.Wholesalecentrl.com 

January 21, 2025

Jewelry Marketing Strategies: How to Attract Customers and Boost Sales in a Competitive Market

December 31, 2024

How to Open a Gift Shop: A Step-By-Step Guide

December 23, 2024

Online Marketing Calendar for 2025: Don’t Miss These Critical Dates

December 17, 2024
  • About Us
  • Subscribe
  • Contact Us
  • Advertise
  • Find Wholesale Sources
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Follow Us:

Copyright © 2025. Sumner Communications, Inc..

Type above and press Enter to search. Press Esc to cancel.