COVID-19 (Coronavirus disease 2019) has created a challenging environment for everyone, but especially for small businesses. All of us at Hatch understand that you may be facing difficult times ahead, and we want to be here for you.
At Hatch, we believe that staying informed is everything for making smart decisions. Because the situation surrounding the outbreak is quickly changing with the long-term impacts still unknown, we have created this blog post to provide product updates and links to important information on how your business might be affected in the coming months.
This post will be updated in real-time as the situation develops. Last updated: 3/20/20
Hatch product and feature updates
As of 3/20/20, we are rolling out our Cardholder Assistance Program that provides immediate relief to affected and eligible cardholders by deferring interest and minimum payments through May 2020.
To enroll, please e-mail us at firstname.lastname@example.org, or call us at (888) 516-2369 from the hours of 6am - 5pm PST. You must contact us in order to be considered for this program.
Hatch's commitment to you
Hatch will remain open for business during this crisis to provide you with financial services and support. You can continue to access your cardholder servicing dashboard 24/7 at hatchcard.com, or contact our customer support team with any questions you may have through e-mail (email@example.com) or our support line at at 888-516-2369 (6am - 5pm PST, Monday through Friday.) We will continue to monitor the situation and evaluate additional measures to help you in these difficult times.
In addition, all Hatch team members will be following the California Shelter in Place Order to mitigate the risk of infection and stay healthy in order to do our part and focus on serving you, our valued customers. Lastly, we are closely monitoring major healthcare and financial resources.
Steps you can take as a new business owner to protect yourself
1. Limit in-person contact and conduct as much business as you can online or over the phone to reduce exposure. The most important thing you can do is lower the risk for yourself, your loved ones, and those with higher risk of infection (e.g. the elderly, individuals with health complications).
2. Communicate important changes in your business operations to your customers. As a business owner, your customers will be looking to you for service or expertise that only you can provide.
3. Stay in touch with other local business owners in your area, exchange information, and stay up to date with local policies. Staying informed is the best way to ensure you're making thoughtful, strategic decisions about your business.
4. Review your budget and limit spending to the bare necessities. With the long-term impacts and durations of this crisis being unknown, it is more important than ever to monitor cash flow.
5. Stay informed. With news updates coming in by the hour, it is important to filter the noise and focus on what's important. Here are some resources to stay informed and educated.
What changes are small business owners facing during re-opening? For many, this will not be business as usual-- but it shouldn’t mean business has to be over. Here’s a breakdown of some ways owners can keep themselves funded and prepare for re-opening safely and effectively.