Top Financial Resources to Support Your Residents

Appfolio Websites • Mar 30, 2020

By Brittany Benz

The team at Newman Properties, cares for each and everyone of our tenants, and hope that during this difficult time you maintain some method of income. Unfortunately, like many Americans, this is not the case. We hope that the below resources will be of some help to you and yours.

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As COVID-19 has evolved into a pandemic, many businesses — big and small — have been forced to close their doors, causing a spike in unemployment. According to The Guardian, a record 3.3 million people filed claims for unemployment in the United States last week, and this number is only expected to grow.

Many property and community association managers are concerned about their residents health, safety, and financial well-being. Fortunately, there are many organizations out there that have quickly mobilized funds and assistance to ease these financial hardships. Here’s a list of resources you can send to your residents to help support them during this tough time:

Financial Resources:

U.S. Department of Labor

A cabinet-level department of the U.S. federal government, the Department of Labor is responsible for occupational safety, wage and hour standards, unemployment insurance benefits, and more. Their unemployment insurance programs provide benefits to eligible workers who become unemployed due to coronavirus.

One Fair Wage

Led by advocates for restaurant workers, One Fair Wage is a nonprofit, non-governmental organization. Right now they are providing cash assistance to restaurant workers, car service drivers, delivery workers, and personal service workers who are financially struggling due to temporary unemployment.

U.S. Small Business Administration

A U.S. government agency, the SBA provides support to entrepreneurs and small businesses. At the moment they are currently offering low-interest loans of up to $2 million to small businesses and nonprofits in certain states that have been impacted by COVID-19.

Restaurants Care

With the goal of promoting the health and prosperity of the foodservice industry, Restaurants Care is offering grants to restaurant workers who have tested positive for coronavirus, if they are a caregiver for an immediate family member who has contracted the disease, or if they have been out of work for 3+ weeks with no unemployment benefits.

National Domestic Workers Alliance

An advocacy organization promoting the rights of domestic workers in the U.S, the National Domestic Workers Alliance has created a Coronavirus Care Fund to provide emergency assistance for domestic workers, so they can stay home and healthy. Every qualifying applicant can receive up to $400 in emergency assistance from the fund.

USBG National Charity Foundation

The United States Bartenders Guild (USBG) is a professional and philanthropic organization for bartenders across the country. To help those in need, they are offering loans to bartenders who are out of work due to COVID-19.

Savi

A social impact technology startup, Savi works to solve the student debt crisis by helping student loan borrowers better understand their debt. Currently, they are providing assistance to borrowers who lost their jobs with a Free COVID-19 Student Loan Aid Tool, that helps determine if you’re eligible to lower or eliminate your student loan payments at this time.

Americans for the Arts

With offices in Washington, D.C. and New York City, Americans for the Arts is a national nonprofit organization that focuses on advancing the arts in the United States. In response to corona virus, they have created a full list of corona virus resources that are offering funds and grants for artists, performers, and musicians who have experienced disruptions in their employment.

During this time of uncertainty, it’s important to stay positive and remain proactive. With the right financial resources, your residents can get the support they need to make it through. Keep your resident communications informative and helpful, so they know you are doing everything you can to ease the situation. We will continue to refresh this blog post in the coming weeks with more financial resources as they become available.

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For the article please click here

Top Financial Resources to Support Your Residents

By Brittany Benz

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