The ASA organized a webinar presented by the Small Business Administration (SBA) on Thursday. The presentation, attended by more than 300 salon owners, discussed how the current SBA disaster assistance programs can help salon owners. The presentation also discussed the programs due to be passed by Congress and signed by the President as early as today.
The primary takeaways from the SBA presentation:
- There are existing SBA disaster relief loans available to small businesses right now. These loans are intended to help pay normal operating expenses including payroll each month. This would be a low-interest loan (3.75%) for 30 years. There is no cost for the loans and the money is available today. The first payment would not be due for 12 months. For more information, go to https://www.sba.gov/funding-programs/disaster-assistance.
- SBA also offers help through business consulting. Go to www.sba.gov/local-assistance. You can also call 800-659-2955 or email customer service at firstname.lastname@example.org.
- Details regarding the additional SBA loan assistance that will be included in the stimulus package expected to pass and be signed by the President in the next few days will be administrated by local SBA loan administrators. Contact your local SBA financial provider to get details on what is available for your business.
You can hear the presentation recording below:
If you have further questions, please email them to email@example.com.
Melinda Norton, ASA President