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What is it? Many landlords, auto loan, and insurance companies are able to provide financial assistance in the form of delayed payments for customers impacted by coronavirus by offering a deferment or a forbearance. To avoid defaulting on payments, a due-date change, deferment or forbearance will delay payments if a customer can sufficiently demonstrate a temporary inability to pay to their Creditor. In some instances a deferment can be interest-free. Is my business eligible for this? Creditors may provide financial...

In addition to loans provided by the SBA, the IRS has its own program to support businesses in the wake of COVID-19. What is it? The IRS has created an Employee Retention 2020 Tax Credit that, for eligible businesses, could equal up to 50% of the wages paid to employees. Credit is given for the first $10,000 of salary, including health benefits, paid to each eligible employee. Applies to qualified employee wages paid after March 12, 2020, and before January...

Benjy Feinberg Founder, Behalf As the founder of Behalf, I know what it’s like to go through the ups and downs of managing your own business. During booming times, and especially during the tough times, there’s nothing like being an entrepreneur and an owner. As a result of the coronavirus (COVID-19) and its impact on the world – on small businesses in particular – we’re all facing challenges that we’ve never faced before. There’s no rulebook and there’s no playbook;...