Home / Blog / Small Business Assistance During COVID 19

Small Business Assistance During COVID 19

So many small business owners are deeply impacted by the shelter-in-place restrictions. ZümiFi is compiling an initial list of resources that are available, but of course, things are changing rapidly and all business owners should stay abreast of how evolving programs and offerings might benefit their businesses:

Local, Municipal assistance:

California State assistance:

Federal assistance:

Retirement Plans:

  • CARES Act waives 10% early withdrawal penalties of up to $100,000 for certain hardship distributions
  • Plans loans; adjust the limit for loans as well as payment terms
  • Plan Amendments; plans can adopt rules immediately even if they do not currently have hardship distribution or loans
  • Temporary waiver of Required Minimum Distribution Rules

All of these programs are things we are trying to stay abreast of to support our clients. That said, things are changing rapidly and these are also not our areas of direct expertise. ZümiFi will continue to partner with your team of experts to determine which supports are best for your business, and of course, we encourage you to research these programs directly as well. Now more than ever you will benefit from having a strong team of professionals advising you, and ZümiFi is honored to be a part of your team!

Small Business Assistance During COVID 19