INSURANCE 2021: COVID AND WHAT TO EXPECT BY DEBBIE WILLIAMS RISK MANAGEMENT SERVICES
Adapting to the current environment surrounding COVID is challenging enough for all of us, but for a small business trying to get back on its feet the process can be overwhelming. When it comes to insurance in 2021, we would like to offer a few quick insights to help you navigate through the commercial market, renewals of your policies, and some additional information we have learned in the past few months. SBA LOANS Many of you looked to the Small Business Administration for loans to keep your business afloat during the pandemic. You either took advantage of the Paycheck Protection Program (PPP) or the COVID -19 Economic Disaster Injury Loan (EIDL). Both programs offered opportunities to borrow the capital needed to pay necessary expenses such as payroll, health benefits, rent, etc. The program that we seem to receive the most questions about is EIDL. EIDL is a very low interest rate loan that the SBA developed for businesses involved in natural disasters, and was adapted to meet the needs of small businesses during COVID-19. EIDL has some unique features that make this loan attractive. 16 | USSWIMSCHOOLS.ORG
