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As layoffs spread and businesses shut down, many Americans face sudden and severe financial challenges. While the pain is widespread, so too are the relief efforts. This Forbes guide aims to cut through the confusion and help you protect your finances in these uncertain times. Check back frequently. We’ll update this page with the latest information and advice on everything from stimulus checks to tax, student loan, mortgage and small business relief, to the smartest ways to spend now, protect your retirement and to help others. Learn More

Disaster Unemployment Assistance provides financial assistance to individuals whose employment or self-employment has been lost or interrupted as a direct result of a major disaster and who are not eligible for regular unemployment insurance benefits. Learn More

The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus. This page will be updated as new information is available. 

Facebook is offering $100M in cash grants and ad credits to help during this challenging time. Learn More

 With generous support from our industry partners, the Professional Beauty Association (PBA) and PBA Charities have created a new fund to help our industry during this unprecedented crisis.

• The PBA COVID-19 Relief Fund will provide $500 to licensed beauty professionals who are unable to work due to COVID-19. Apply Here The funding is intended to be emergency aid for short-term immediate needs such as food and bills.
• There is also opportunity to donate to this fund. Every little bit helps.  We are in this together as we are Connected by Passion. United by Beauty. 

The SBA offers disaster assistance in the form of low-interest loans to businesses, renters, and homeowners located in regions affected by declared disasters. This can be applied to any economic injury including but not limited to inventory, equipment, mortgage/rent. Learn More 

• IMPORTANT The new SBA Economic Disaster Loan application for the sole proprietor and independent contractors Apply Here. (PLEASE NOTE:  if you're an employer, your employees must come back to work for you, if they do not, you’re not able to get the grant it turns into a loan)  It’s a streamlined application for the $10k EIDL grant, which is 100% forgivable, if you have been adversely affected by COVID-19. 

1. The SBA application link is for the Paycheck Payment Protection (PPP) loan, but there is also a “up to” $10K emergency advance the SBA will immediately approve within 3 days. When filling out the application, please make sure you check the box that states “I would like to be considered for the advance of $10,000”. It’s located right above where they ask for your banking information. 
2. The PPP loan (which you are applying for) requires a longer application/approval process which comes later with an agent (I believe the agent will be a local bank in your area). The grant/advance is to get money in your hands within 3 business days to keep your business afloat while we are mandated “non-essential" and have closed our doors. 
3. If you do get denied for the PPP loan,  the “up to” $10k advance  is "forgivable" and does not need to be repaid. If you get approved for the PPP loan (0% interest rate first 12 months/3.75% interest rate after that), you do not need to take the loan for more money above and beyond the $10k grant. The way the law is written as of now, you do not need to pay back the grant in either scenario. 
4. Learn More on the up to $10k emergency grant

DISCLAIMER: I received this info from my CPA. Please do your proper due diligence to make sure it is right for your situation.*Please apply soon as there is only approx. $300 billion for the EIDL loans (as the bill is written now) and over 45,000,000 small businesses in the US competing for that money.

• SBA’s Economic Injury Disaster Loans Apply Here offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
   
• These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
   
• SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.