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.
