Applying for loans & grants in the time of Covid

A lot of small businesses are struggling to stay afloat during this time of a global pandemic. And so the U.S. Government has developed the US$2 trillion The U.S. Coronavirus Aid, Relief, and Economic Security #CARESact to help businesses keep employees paid, to control unemployment; thereby providing economic stabilization.

In this segment, entrepreneur Fiona Hilario of LayBare Waxing Salon, talks about her experiences in navigating the CARES Act and other relief available to #smallbusinessowners. She reveals that, to prevent her business from folding, she applied for a total of 12 programs and got rejected by most. But she also shares the companies and program she’s had luck with, in case other small business owners are still in the process of applying.

Here are tips for applying:

1. Small banks and financial institutions are more helpful, giving applicants personal attention *** For women entrepreneurs – try organizations like I Fund Women, for support, education and training.
2. Stay in touch with local chambers of commerce, for information and announcements
3. Keep trying — DON’T GIVE UP! As we continue to shelter in place — we aim to share relevant and accurate information and tools to help the public manage during this time of global pandemic.