MARYLAND SMALL BUSINESS RESOURCES AND FUNDING OPTIONS DURING COVID-19

October 16th at 4:24pm

The COVID-19 pandemic has brought changes and disruptions to daily life all across the country, and some of those impacted the most are our very own small and local businesses in Maryland. Many companies are coming up with innovative ways to increase or pivot production and provide support to those in need while keeping up with the coronavirus.  Keeping Maryland clean The demand for quality disinfectants and sanitizers has never been more relevant. Sterilex, a Hunt Valley-based company, has been at the forefront of sanitizer and disinfectant production in Maryland. The company is currently working at full capacity to keep…

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Merchant Cash Advance during Covid – 19 for small businesses.

October 14th at 6:06pm

Merchant cash advance (MCAs) was created after small banks and lenders stopped loaning money to small businesses in 2009. Many small businesses continue to use a merchant cash advance to help their companies–especially during times of uncertainty, such as COVID-19. What Is a Merchant Cash Advance? A merchant cash advance is an “advance” on future revenue, so business owners can borrow money for their operations to sustain their business. However, a merchant cash advance isn’t like a typical loan. An MCA is based on the credit card sales in a business owner’s merchant account. In fact, payments are deducted daily…

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How to Open Your Business and Grow Your Business During COVID-19

May 28th at 5:51pm

You have two options during this COVID-19 – cower in fear, lament all day and accept defeat, or you roll up your sleeves, take a firm stand and fight it out head long. If you choose the latter, then this piece on how to open your business and grow your business during COVID-19 is for you. As far as anyone knows, coronavirus may miraculously disappear overnight or become a part of us, like HIV/AIDS. But rather than fold your hands to wait it out, you are here, looking for a way to earn money and stay in business, pandemic or…

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INNOVATION DURING COVID-19 OUTBREAK

March 28th at 6:00pm

Online medical care, medical supplies, pharmaceuticals, insurance, and health-related industries During the epidemic, online medical platforms, like AliHealth and Tencent HealthCare, have provided free online diagnostic services for citizens. This helps to screen out suspected COVID-19 patients from common cold patients, alleviate the shortage of offline medical resources, reduce the cross-infection risks caused by human contact, and enable more citizens to experience online medical treatment. The outbreak also stimulates the growth of telemedicine. Apply for Small Business Funding E-commerce To avoid being infected by the COVID-19 virus, consumers who have formed the habit of online shopping are becoming more likely to order food and choose daily necessities and fresh food online instead of going to…

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HOW TO STAY IN BUSINESS DURING COVID-19 CRISIS

March 27th at 8:48pm

While federal, state, and local lawmakers mull over additional aid, Mills recommends that small business owners: Apply for the Small Business Administration funding. In addition to the disaster funding, which only apply to businesses in states that have declared emergency status, some state governments are offering aid packages.Explore private sector programs and fintech products. Facebook said it would offer $100 million in grants to small businesses. And fintech companies such as Kabbage and Fundbox, which specialize in funding to small businesses, are also considering ways to support the sector.Renegotiate terms of contracts and debt. Owners should ask landlords for more time to…

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CORONAVIRUS STIMULUS PACKAGE IS READY

March 25th at 7:35pm

The White House and Senate leaders have finally agreed to a sweeping $2T stimulus package for the U.S. economy as the country grapples with the fallout from the coronavirus pandemic. The precise details of the fiscal package are yet to be disclosed, though it is expected to include around $350B in small business funding and a further $500B for distressed companies, such as airlines. Hospitals are also expected to get a cash injection of $75B to help them manage a rush of coronavirus-stricken patients. Some $250B has been set aside for direct payments to Americans. The bailout will likely include grants — money not to be…

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TIMES OF CRISIS ARE NOT ALWAYS BAD FOR BUSINESS

March 20th at 10:49pm

Most organizations today are battling some kind of crisis – a situation triggered by significant internal or external factors, or several small incidents that build and have an enterprise-wide, multifunctional impact. These crises disrupt normal business operations and have the potential to harm or damage the reputation of the organization. Crises don’t discriminate and can threaten the existence of the organization if not contained in time. But times of crisis can also create business opportunities and you small business can capitalize if you take the appropriate action, here’s why: Downtrodden economies can lead to great innovation. Existing companies must find…

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HOW TO KEEP YOUR CLIENTS DURING THE CORONA VIRUS CRISIS

March 11th at 7:03pm

Even if you need to close due to health and safety concerns, there are ways to keep serving your customers during the coronavirus outbreak. Here are some strategies you can apply to your small business: Communicate proactively with your customers The situation is evolving rapidly, and no one is quite sure what news each day will bring. Customers can empathize with merchants facing a crisis, as long as you communicate with them properly. Let your customers know if you’re closing your doors, changing your hours and what steps you’re taking to keep your employees and work environment safe and clean. Promote your…

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