Are you a dive shop owner who’s not sure how you’re going to weather the economic crisis brought about by the COVID-19 pandemic? There’s a webinar happening today that just might help.
Innovative Scuba Concepts is hosting a webinar today to help its USA dealers figure out how to access the coming US$350 billion in Small Business Administration loans that turn to grants (different and new from what the administration is trying to do with the direct disaster loans).
The dive industry has been threatened by the coronavirus and resulting lockdowns by various government agencies. Business owners are scrambling to figure out how to keep the doors open — or worse, trying to figure out how to open the doors back up!
To that end, the CARE Act Small Business Administration (SBA) disaster assistance loans can provide help. The loans offer low interest, long repayment terms and don’t require collateral or personal guarantees. They do require that the business was employing workers before this shock occurred (true of almost all dive businesses). Furthermore, the wages paid to employees and other expenses like rent can be credited against the loans. The portion paid in wages, rent, utilities, etc. over the coming months will turn into a grant and won’t need to be paid back.
Find out how to navigate the process, what you need to do now, and how your business can survive and thrive once this is over. On the call will be:
* Sohail Kotharia, Citibank (a participating SBA Lender)
* Adam Small, experienced small business accountant
* Chuck Fultz, Innovative Scuba Concepts
Prior to Innovative Scuba Concepts, Chuck worked in banking for 17 years and is trying to help dive businesses with that knowledge.
The webinar will take place today, Wednesday, April 1st at 3:00 pm EST/2:00 pm CST/12:00pm PST.
You must be registered to attend. The presentation and materials will be sent out after the webinar as well.
To register, go to zoom.us/webinar/register/.