If you are feeling unsure about your financial future right now, you are not alone. The devastating impact of COVID-19 has influenced our global economies and brought uncertainty to the financial future of millions of families and small businesses across the United States.
As an education and empowerment program deeply rooted in supporting underserved communities, Master Your Card continues being your ally and a resource to navigate the road ahead. Leveraging the strength of Mastercard’s ongoing engagement with our community partners, we are committed to providing you with educational materials to help answer your questions, resources to help determine a game plan for small businesses and tools to help all maintain their financial health in a difficult economy.
Our website will serve as a hub for helpful updates for people and small businesses, as well as a place to find much needed links to other industry resources around critical topics like access to capital, subsidies, loan repayment terms, and predatory lending prevention.
We’ll also share relevant information about the power of electronic payments, to help manage everyday expenses, specially at these difficult times. Our community-committed Master Your Card partners are also providing valuable information through webinars and other materials – we’ll update our site continually with those resources as they become available.
Check for updates here as well as via our LinkedIn, Facebook and Twitter. Mastercard also features a dedicated page with the latest information on our commitment to cardholders, small businesses and the community.
Resources for Consumers/Communities:
- US Department of Labor – Unemployment Insurance Benefits
Find out if you are eligible for Pandemic Unemployment Assistance (PUA) and Pandemic Unemployment Compensation (PUC). - AFL-CIO – Federal and State Resources for Workers Impacted by COVID-19
Find unemployment insurance benefit resources and related information for your state. - FDIC – COVID-19 Information for Bankers and Consumers
Discover this FDIC-approved list of information for financial institutions looking to help communities affected by coronavirus and customers looking for clarity around safety of bank deposits, potential scams, and more. The index is continually updated. - HUD – COVID-19 Information and Resources
Through collaboration and coordination with State and local health departments, HUD has made available critical information and additional steps to prevent the spread of COVID-19 to housing providers. - Better Business Bureau – COVID-19 Resources and Fraud Protection MaterialsThe Better Business Bureau has created a resource pool for various geographies on COVID-19 related information and materials. They’re also providing helpful tips and precautions to take against online/digital fraud.
- BBB Tip: How To Spot Predatory Lending
The BBB recommends researching the lender before committing any financial information.
- BBB Tip: How To Spot Predatory Lending
- State Governments
The National Governors Association has created a site tracking each state’s response to COVID-19, details on Stay Home orders and helpful tips for staying safe. - National Community Reinvestment Coalition
The NCRC has created an online domain with resources and services to help individuals, small businesses and institutions cope with the challenges posed by COVID-19.
Resources for Small Businesses:
- US Senate Committee On Small Business & Entrepreneurship – Guide to the CARES Act
This guide from the US Senate Committee on Small Business & Entrepreneurship (SBA) provide information about the programs created through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. - US Department of Treasury – Paycheck Protection Program
If you own a small business check out this fact sheet on the Paycheck Protection Program, which authorizes up to $349 billion in forgivable loans.
- The New York Business Council – CARES Act & Paycheck Protection Program Resource
This one pager from The New York Business Council will help you navigate eligibility and loan terms in the Paycheck Protection Program as a part of the CARES Act. - Small Business Administration – How SBA is Helping Small Businesses Impacted by Coronavirus
This is a resource page from the U.S. Small Business Administration (SBA) on how the SBA is helping small businesses and provides links to resources for small businesses on protecting employee health, getting free local business assistance, getting help with government contracting, etc. On March 20, Administrator Jovita Carranza, head of the Federal Government’s Small Business Administration, led a national call on COVID-19’s economic impacts and the SBA’s targeted relief efforts for the nation’s small businesses and nonprofits. - Economic Development Authorities by StateSeveral states’ economic development authorities in conjunction with their respective governors’ offices have created a repository of helpful links, such as financial assistance information, hiring/job portals and safety precautions.Resources from the five US states most affected by COVID-19 are listed below:
Resources from Our Partners:
- Hispanic Chamber of Commerce – Online Learning Materials
Learn what the Hispanic Chamber of Commerce is doing to support the community through COVID-19, from providing masks for healthcare workers to providing groceries and information on applying for small business loans through the NYC Department of Education’s Regional Enrichment Centers (RECs).
- Qualitas of Life Foundation – Financial Tips and Small Business Resources
Whether you’re a small business, restaurant worker, or are recently unemployed, the Qualitas of Life Foundation has compiled comprehensive flyers to help you navigate your finances during COVID-19 (available in English and Spanish).
- A. Philip Randolph Institute / AFL-CIO
The AFL-CIO has launched an interactive map of the United States, showing unemployment insurance benefit resources and related information for workers impacted by the COVID-19 pandemic for each state.
- The Latino Coalition
The Latino Coalition is bringing together key news updates, responses and information from politicians and America’s leading companies into one helpful list on its website. - Hispanic Heritage Foundation
While social distancing, HHF is continuing to host Charlas virtually. This program provides information on issues such as financial empowerment, mental health, taking care of the our beloved elders, those living on the poverty line and our immigrant population – including DACA recipients. Check it out. - World of Money – Online learning materials
World of Money has shared remote learning materials for children/teens on various educational topics. These resources include Khan Academy learning modules and reading activities, among others. - World of Money Mobile Video App
Master Your Card supported World of Money in the creation of its free mobile video app, geared at educating youth and young adults on topics including budgeting, investing and using mobile payments. Check it out at IOS or Android. - Operation Hope – Online Learning Materials
Operation Hope has activated their Hope Inside Disaster program, which through partnerships with the American Red Cross, FEMA and industry leaders, serves as a financial advocate for families and small business owners. - NAWBO
While NAWBO has postponed many of its chapter meetings for the remainder of the year, they’re offering a regular schedule of virtual programming each week that is available to the public on updates around COVID-19 and topics on financial literacy. Sign up for free to access these great resources. - NALEO Educational Fund
NALEO has compiled federal resources in English and in Spanish. It also offers a downloadable bilingual toolkit with information from its ¡Hágase Contar! Initiative to engage with the community and offer tips for completing the Census amid COVID-19. - League of United Latin American Citizens
LULAC offers opportunities to stay connected, volunteer activities, updates on community events and information on where to turn if you or someone you know is in need of assistance. - YWCA Metropolitan Chicago
This YWCA chapter is offering free financial education resources and other community resources including updates, information on food, childcare, housing, and transportation, support and guidance for parents, and more. - Congressional Hispanic Caucus Institute (CHCI)
CHCI has created a list of resources from the public and nonprofit sectors to help individuals and families prioritize safety and mitigate the impact of the economic slowdown, highlighting resources for vulnerable populations. - UNIDOSUS
UnidosUS created a resource page to ensure that Latinos are not left out of the federal response and relief efforts.
General Resources and Articles:
- AllBusiness.com – Newly Available CARES Act Loans: 10 Things Small Businesses Need to Know
A quick breakdown of what small business owners need to know to put the Coronavirus Aid, Relief and Economic Security (CARES) Act to work for them. - National Governors Association – Coronavirus: What You Need to Know
The NGA created a portal of consolidated resources, including state-specific and federal actions, resource pages, special considerations for vulnerable populations and live update trackers. - National Conference on State Legislatures
The NCSL tracks all pending, enacted or adopted legislation related to COVID-19 by US state legislative bodies. - CNBC – Electronic Payments Look More Appealing As People Fear Cash Could Spread Coronavirus
This article states that electronic payments have become more appealing to US consumers who want to avoid handling germ-laden bank notes. - The Wall Street Journal – Digital Payments Soar Amid Coronavirus Restrictions
This article analyzes the surge in electronic payments amid COVID-19, as consumers seek secure alternatives to in-person transactions. - Westchester Catalyst – Business Resources
The Westchester Catalyst has provided online business resources and COVID-19 updates on their website from federal and local government agencies.