COVID-19 – Measures For US Businesses

us capitol building, washington dc, power

Below are 3 important measures at the federal level to support US businesses through uncertainty related to the COVID-19 sanitary crisis.

Export-Import Bank of the United States (EXIM)

If you have encountered any shipment problems, payment difficulties, liquidity problems, or other business interruptions that require other flexible arrangements from EXIM in addition to the ones outlined above, EXIM stands ready to work with you in partnership to overcome these issues. Read more

SBA Disaster Loan Assistance for Small US Businesses

In addition, the Small Business Administration is offering up to $2 million in working capital to small businesses during this time of revenue loss.  Perhaps most importantly, the federal and state governments will most likely be putting over a Trillion dollars into the economy to help individual taxpayers as well as small and large businesses over the coming months.

Taxes deadlines are postponed to July 15

Individuals can delay payments of up to $1 million in taxes and corporations can defer payments of up to $10 million until July 15 without interest and penalties, according to IRS guidance published Wednesday

State Postpones Tax Deadlines Until July 15 Due to the COVID-19 Pandemic