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Infographic: A Guide for eCommerce Brands Applying for CARES Act Financing

infographic:-a-guide-for-ecommerce-brands-applying-for-cares-act-financing

On March 27th, the CARES Act was officially passed, which includes $376 billion in relief available for U.S.-based small businesses impacted by COVID-19. Following the announcement, we conducted a survey and found 45% of the brands we work with are planning to apply for CARES Act funding, but the majority of those brands haven’t begun their applications. 

As we analyzed the data and financing options available via the CARES Act, we realized that one of the main reasons many brands haven’t applied yet is because it’s complicated. There are multiple programs for which a given brand might qualify for, different timelines for each one, and, in many cases, it’s confusing to understand whether your eCommerce brand is even eligible in the first place. In addition, some lenders have already begun processing loan paperwork, adding a time crunch to an already-stressful process.

With all of that said — we’re here to help. We’ve created a guide for brands who need assistance g …

This story continues at Yotpo
This article originally appeared in the Yotpo blog and has been published here with permission.

About the author

Steve Hutt

Steve has entrepreneurship in his DNA. In the early days of online commerce, he achieved Power Seller status at eBay, which then propelled him to become a founding partner of VisionPros.com, a contact lens, and eyewear retailer. After a successful exit from his startup, he embarked on his next journey into agency work in e-commerce and digital strategy.

Currently, Steve is part of the Merchant Success Team at Shopify Plus, where he is a Strategic Advisor helping brands continue to grow and scale with the Shopify Commerce Platform.

To maintain his competitive edge and life of learning mantra, Steve also hosts and produces a top-rated weekly podcast show, eCommerce Fastlane, where he interviews Shopify partners and subject matter experts who share the latest marketing strategy, platforms, and must-have apps, to help Shopify brands build and scale lifetime customer loyalty.