And more started coming.
By the hour.
We immediately pivoted.
Back on March 16th, there was really one main solution we found for companies who were forced to shut their doors.
The good ‘ole EIDL. That stands for Economic Injury Disaster Loans.
Now, before this crisis, almost none of us knew what these were. But at the time, as part of the Family First Coronavirus Relief Act (FFCRA), there was $7,000,000,000 allocated. We created an advisory package to help clients through this crisis.
And it went nuts.
As this was still mid-March, we had no idea how big this Pandemic would be. Or the effect it would have on small businesses. At the time of writing this letter (April 2020), over 30,000,000 Americans have lost their jobs.
The stock market has been down below 20,000 before rebounding. And the economy is in and out of lockdowns on a county by county basis.
But back in mid-March, we had no idea we were standing at the front door of one of the biggest government relief packages in history.