Hell No We Won't Fold - Coronavirus Pandemic Help

The Coronavirus (Covid-19) pandemic has taken the world by storm. Shutting down businesses, pausing cash/gig jobs, canceling events, and wreaking havoc on our economy with no end in sight. But just like with every other societal collapse (The Great Depression, Y2K, The Mortgage Crash of 2008, etc.) we will rebound with a vengeance- we just have to get through this, together. Here are some resources we've gathered to help small business owners, homeowners, and artists during these tumultuous times:

1.) Invest Atlanta Business Continuity Fund

-To ensure the viability of city businesses and to help sustain employment, Invest Atlanta has established aBusiness Continuity Loan Fund (BCLF) with $1.5 million of funding from the City of Atlanta. The fund will offer small businesses 0% interest loans to address a lack of working capital and cash flows as a result of reduced consumer demand, the ability to fulfill product or service orders and other economic conditions. Loan terms include option for6-12 month deferred interest with 5 years to repay loan.

2.) SBA Disaster Loan Assistance

-Economic Injury Disaster Loans up to 4% interest on up to$2 million. Open to Small Business, Small agricultural cooperative, most private nonprofit organizations that have suffered substantial economic injury. Loans can be amortized up to 30 years. Applicants can not currently be receiving federal grants/funding and ineligible for commercial loans without creating financial hardship.

3.) Community Foundation for Greater Atlanta/United Way

-$11,500,000+ fund will go to nonprofit organizations and agencies focused on providing crucial services to people directly or indirectly affected by the pandemic including children who receive free or reduced lunch, older residents, families in need of childcare, homeowners and renters at risk for eviction and hourly or low-wageworkers

4.) Mortgage Payment Assistance

-For Fannie Mae and Freddie Mac owned loans:

  • Homeowners impacted by this national emergency are eligible for a forbearance plan to reduce or suspend their mortgage payments for up to 12 months
  • Homeowners in a forbearance plan will not incur late fees
  • Credit bureau reporting of past due payments of borrowers in a forbearance plan as a result of hardships attributable to this national emergency is suspended
  • After forbearance, a servicer must work with the borrower on a permanent workout option to help maintain or reduce monthly payment amounts as necessary, including a loan modification
  • Foreclosure sales and evictions of borrowers are suspended for 60 days

5.) $1,000 Monthly Fund For Black Women Artists Nationwide

  • To initiate a national fund for black women artists to help the black artists community thrive during a global crisis
  • To alleviate financial burden that black women artists are experiencing during COVID-19
  • To build community and open a line of communications between art administrators and artists

The Maverick Firm

Ashley is a founder of The Maverick Firm, a fully licensed insurance, investment, and retirement planning firm. We at The Maverick Firm are committed to offering financial consulting including life insurance, final expense insurance, estate planning, will preparation, supplemental health insurance, and retirement planning services.