Financial Resources to Help You Through COVID-19

Getty Images(Financial resources for COVID-19)

The Coronavirus pandemic is impacting every person, and every business, big or small, especially the hands-on beauty industry. The Professional Beauty Association is one of the industry's biggest advocates, and has put together a list of resources you can use right now to financially get you through this time.

Small Business Tax Credits Treasury, IRS and Labor announce plan to implement Coronavirus-related paid leave for workers and tax credits for small and midsize businesses to swiftly recover the cost of providing Coronavirus-related leave.

Small Business Loans The SBA is providing disaster assistance loans for small businesses impacted by Coronavirus. The agency is working with state governors to provide targeted, low-interest disaster recovery loans to small businesses that have been severely impacted by the situation. Additionally, the SBA continues to assist small businesses with counseling and navigating their own preparedness plans.


Enjoying this story? Subscribe to the American Salon Newsletter

Get inspirational trends, techniques, tips, education and the latest beauty news delivered right to your inbox! To read on the go, sign up today to get weekly beauty news and updates.

Families First Coronavirus Response Act This creates emergency paid sick leave, as well as paid family leave in the case of school closures, for working families impacted by COVID-19. It does so by requiring employers with up to 500 employees to provide paid sick leave and paid family leave, while providing a refundable payroll tax credit to employers to cover 100 percent of the cost of wages. There is also a refundable income tax credit for self-employed individuals. Employers must offer two weeks (10 days) of paid sick leave for COVID-19-related reasons (existing leave offered can count towards the 10 days).

IRS Coronavirus Tax Relief The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the Coronavirus.

United Way 211 Program Turn to 211 for information and support—whether financial, domestic, health or disaster-related. 211 is a free, confidential referral and information helpline and website that connects people of all ages and from all communities to the essential health and human services they need, 24 hours a day, seven days a week. You’ll find information about: supplemental food and nutrition programs; shelter and housing options and utilities assistance; emergency information and disaster relief; health care, vaccination and health epidemic information and more.

Check Your State Closures Outlines 2020 state and local government responses to COVID-19, like whether non-essential businesses are being forced to close or if there is a limit to how many employees can be working at the salon. You can sign up for daily email updates.

Low Income Home Energy Assistance Program The Low Income Home Energy Assistance Program (LIHEAP) helps keep families safe and healthy through initiatives that assist families with energy costs. We provide federally funded assistance in managing costs associated with home energy bills; energy crises; weatherization and energy-related minor home repairs.