COVID-19 Resources for Small Businesses

The impact of Covid-19, like interest, is compounding daily and businesses are reeling. At Breakaway, we too are adjusting to this new normal and working to help our business clients find the resources they need. We don’t know if it will be 30 days or three months before life will resume like it was before, but we know businesses need help now. 

Below are some resources we’ve compiled, and urge businesses to review and discuss with their Breakaway advisor. 

• A $1 trillion economic stimulus package has been proposed, which will include checks sent to Americans, bailouts for certain industries, and $300 billion for small business interruption loans. We will post updates as they become available.

• Facebook is offering grants for small businesses.

• The IRS is allowing up to 90 days to delay paying taxes up to $1 million in taxes owed.   

  • https://www.irs.gov/coronavirus

• Small business administration aid:

  • https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

• Business Oregon

  • http://www.oregon4biz.com/Coronavirus-Information/COVID19-Resources.php

• What if you have to lay off employees temporarily?  Below are links to help you provide guidance to your employees, so you can take care of them even if you have an interruption in your business:

  • Oregon: https://www.oregon.gov/employ/Pages/COVID-19.aspx

  • How to leverage unemployment in OR to subsidize wages with Work Share

  • Washington: https://esd.wa.gov/newsroom/covid-19

• We know business owners may still have student loans, or have employees who do.  Here is a link to help answer questions that may arise

  • https://studentaid.gov/announcements-events/coronavirus

• SBA Disaster Relief:

  • https://disasterloan.sba.gov/ela/ Apply at this link or at 1‐800‐659‐2955

  • https://disasterloan.sba.gov/ela/Documents/Three_Step_Process_SBA_Disaster_Loans.pdf

• AICPA

  •  AICPA Coronavirus Resource Center

If you aren’t a Breakaway client, we would still love to assist you during these dynamic times, so please contact us at info@breakawayba.com.