Most U.S. businesses, except the very large, are eligible to apply for Covid 19 – related SBA Disaster Recovery Loans. There are two major initiatives: 1) Economic Injury Disaster Loans (EIDL) – keeping businesses viable by operating expense and debt payment loans, and; 2) Paycheck Protection Program (PPP) – protecting employee staff count and payroll contributions by loans to fund these costs as well as building and utility expenses. It’s beyond the scope of this post to discuss the considerable detail associated with these initiatives. Businesses are eligible to apply for both loans. Check www.sba.gov for more details.
Here’s an excerpt from our Blog Post dated January 2, 2015. Lastly, at some point, our government and the macro-business community needs to realize that depending on others, particularly China, a devious business partner at best and a self-avowed U.S. foe, is a not only a shortsighted business strategy, but one that has much broader national security implications as well. Again, hearkening back to our WWII lessons, having an ever-ready, flexible, and potent manufacturing infrastructure at hand meant the difference between victory and defeat. That is no less a potential consideration in today’s rapidly deteriorating socio-political world climate.
Unfortunately, our admonition of 5 years ago is proving accurate. Clearly, going forward this offshore-derived Covid 19 pandemic demonstrates the material risk in relying on other countries, particularly the forever-adversarial China.
We will likely overcome what we presume is a serious, but temporary, health and economic disaster that may take 12 to 24 months to run its course. During this time, it is incumbent on both our government and corporate businesses to onshore all vital manufacturing processes and products. There’s nothing being produced today in the Asian-based region that wasn’t first created, invented, and made in the USA. Such a fundamentally sound move will restore a great deal of US prosperity and, decidedly, bolster US security on several fronts.