American Express launches ‘Stand for Small’ coalition to support small businesses impacted by coronavirus
American Express partners with companies like Amazon and Google to launch the Stand for Small coalition and provide resources for small businesses during the coronavirus pandemic.
Small businesses are some of the hardest hit during the ongoing coronavirus pandemic due to state-required closures and social distancing. As a result, many small business owners are struggling to make ends meet and are looking for resources to help them through these uncertain times.
While some business owners were able to receive loans from the $349 billion Paycheck Protection Program, it ran out within weeks, leaving many in limbo. Whether you received a loan or not, you can still consider the forbearance programs provided by credit card lenders that may include waived late fees, credit limit increases and the ability to pause payments.
Yet these programs mostly offer temporary monetary support. There’s little guidance and very few resources to assist business owners who are looking to reduce expenses or manage remote employees.
Any small business owner can access the Stand for Small site for free and explore dozens of resources within these 5 categories.
Originally published on cnbc.com May 6, 2020