photographer, educator, artistmaplesphotographer shadowadrienne

Financial Aid for Small Businesses & Photographers

Where do I even start?

This is the question I’m hearing from small business owners from every industry. And while I am by no means and expert on this particular issue, I’ve run a successful small business for more than 16 years.

And I don’t intend on giving up now!

So while the service industry and many others are at a stand still, I’m spending my time researching the facts and gathering the necessary information to ensure I celebrate another year.

The SBA has Good News for Small Businesses, Sole Proprietor’s and Independent Contractors

‘Our nation’s small businesses are facing an unprecedented economic disruption due to the Coronavirus (COVID-19) outbreak. On Friday, March 27, 2020, the President signed into law the CARES Act, which contains $376 billion in relief for American workers and small businesses.’

The CARES Act Economic Relief Plan offers support to small businesses including the Paycheck Protection Program and the Economic Injury Disaster Loan. It’s the first measures taken to try and support small businesses in the wake

To learn more about the relief options available for your business, click here.

PPP Protection Program Grant Loan

‘The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.’

This program will forgive loans when the money applies to the following expenses paid within the first 8 weeks of receiving the loan: payroll, healthcare benefits, rent, electricity, internet, phone, and transportation established BEFORE February 2020.

Additionally employee and compensation levels must be maintained.

You ARE eligible of you are a small business with 1-500 employees, independent contractors or self-employed. No collateral will be required.

This is a 100% federally-guaranteed loan for small businesses.

This loan/ forgiveness program will cover 2.5 times your average monthly payroll and the first $10,000 will be forgiven as long as you play by the rules. (Re: spending the cash on payroll, rent, ect. mentioned earlier.)

Steps to Apply

  1. Submit an application via the SBA website.
  2. Contact your bank and speak with a loan specialist to begin the process.
  3. Gather the necessary paperwork BEFORE meeting with your bank.

Forms you’ll need to prepare

Prepare now by collecting copies of your 2018 & 2019 tax returns from the last two years and print out copies of your payroll.

  1. Schedule of Liabilities (your current loans/debts)
  2. Personal Financial Statement
  3. Tax Returns from 2019, 2018, 2017 (for good measure I pulled 3 years)
  4. Request for Tax Return Transcript

What does the CARES Act mean exactly?

The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. You apply through the SBA as like you are applying for a loan; however the first $10,000 is forgivable if you spend the money on the items I mentioned above.

Want someone to walk you through the application? Check out this YouTube video by Amanda Russell a business finance coach.

Download these forms directly from my Google Drive

Additional Links for More information:

Please share this with any small business owner you know. This applies to not only photographers, but all small business owners in the US.

xoxo adrienne signing off

Hi! I’m Adrienne

The first time I fell in love, it was with the 35mm Minolta camera my mom gave me in middle school.

 

Film taught me patience and I studied the craft before digital technology revolutionized the world-

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After graduating from the Savannah College of Art & Design, I launched my studio and I've never looked back.

 

More than a decade later, as an artist & now mother, I'm more passionate about documenting moments, telling stories & learning from every mistake.

 

My mission? Helping others any way I can!

 

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