Self-Help Shares

Protecting Your Financial Health During COVID-19

By staff
  | Mar 26, 2020

woman doing finances at kitchen table

As you’re protecting your physical health during this time, it’s important to protect your financial health, too. We know that COVID-19 is already causing great financial hardship as people and their family members face business shut-downs, unemployment and medical bills. Even if your finances are stable, this is a time to be extra vigilant about saving money and protecting the security of your accounts. 

Here we’re offering a list of financial tips and resources for individuals and small businesses. We welcome suggestions, and we’ll add more as they become available. 

Resources for Individuals

Resources for Small Businesses

  • Apply for a Paycheck Protection Program LoanThis SBA loan program is designed to give businesses and nonprofits access to capital to cover payroll and other overhead costs. Self-Help is offering these loans to our current borrowers and tenants. If you are not a current Self-Help borrower or tenant, we encourage you to reach out to your primary business banking institution to ask about getting a PPP loan. 
  • Consider NC COVID-19 Rapid Recovery LoansA consortium of North Carolina organizations, including Self-Help, have come together to offer these loans for NC small businesses and family farms. These loans are intended to provide bridge financing until federal loans or other relief funds are available, or until your business recovers.
  • Check out SBA resources: The SBA's COVID-19 Small Business Guidance page includes lots of resources, including information on government contracts, assistance with exports, access to capital and more.
  • Apply for a Truist–NCIFund COVID-19 grant: NCIFund, a CDFI that operates in Appalachia and the Southeast, has partnered with Truist to offer $1 million in grants to small businesses. See here for details and to sign up for more information.
  • Contact your insurance provider: Contact your insurance agent to determine whether your policy provides coverage for the impact to your business. 
  • Contact your lenders and landlords: Contact your lenders and landlords to discuss the options they may be able to offer. Self-Help is working with our borrowers to offer relief options, and many other financial institutions are doing the same.
  • Check out online resources: 
  • The Center for the Advancement of Social Entrepreneurship (CASE) at Duke's Fuqua School of Business has created a searchable website with info on grants, loans and more around the world. See and search the site here:
  • The Economic Development Partnership of North Carolina has a helpful round-up of resources.

Stay Informed

As the situation evolves, make sure you are getting information from reliable sources, like the CDC or your state's department of health.

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