WILMINGTON, Delaware and GURUGRAM, India, April 28, 2020 /PRNewswire/ -- Every part of the global economy has been severely hit because of the ongoing Coronavirus Pandemic. However, small and local businesses are the ones which are the hardest hit. Not only has the current situation led to a lot of job losses but it has also forced many such businesses to wind up their operations under duress.
The much anticipated Small Business Administration's $350 billion loans through the Paycheck Protection Program which was supposed to bring relief to all, ran out of money in mid-April. That is just within a week after it opened. And the additional package of another $320 billion will neither last very long nor will it be able to help most local businesses in a substantial way.
Driven by the passion of having helped more 1 million businesses to build their brand, the company is on the endeavor of doing even more. This week the company has launched yet another initiative - soslocalbusiness.com, a dedicated website for severely cash-strapped small and local businesses. SOSLB is a not-for-profit initiative and encourages individuals to help their local businesses by paying forward/paying in advance by way of purchasing vouchers listed by such businesses on the website.
It's a win-win as on one hand customers would get hefty discounts and benefit from the exclusive deals while at the same time, it will help small businesses raise some extra working capital for paying their staff and rents.
Designhill's Co-founder Rahul Aggarwal quoted, "We at Designhill serve business from diverse industries/sectors and we wish to support them during such troubled times, when they need us more than ever. We have pledged to dedicate 40% of our resources to help all such small businesses through various initiatives and we hope that we are able to help them survive during these hard times."
Designhill: Designhill is the world's leading creative marketplace that caters to the creative needs of businesses and individuals alike who can source high-quality designs from professional designers and buy unique products created by independent artists.