In light of the recent global pandemic and outbreak of COVID-19, otherwise known as the coronavirus, many companies have stepped up by donating to philanthropic efforts to combat and contain the virus along with helping those who have been the most impacted economically in its wake.
Earlier this week, major companies like Facebook and JPMorgan Chase both announced that they will be creating programs to help small businesses who have been left in shambles since the epidemic hit the U.S, causing many to drown in debt. Walmart recently pledged $25 million through the Walmart Foundation to aid in coronavirus efforts across the country and abroad. Tech companies like Microsoft, Amazon, and other companies based in the Seattle area have come together to create The COVID-19 Response Fund to go toward relief efforts.
Fashion house Moncler is doing its part to combat the virus on its homefront in Italy by giving nearly $11 million to support intensive care units across the country. Dolce & Gabbana and Bulgari are providing funding to researchers who are looking to find a coronavirus treatment and a possible cure. Luxury fashion brand Kering has also donated to foundations that provide medical supplies.
Another area that has caused many to worry is their housing security. With many companies laying off workers to recover from the economic loss, many people are worried about keeping up with their rent and mortgage payments. Companies like Freddie Mac have announced that they are committed to working with their customers through this difficult time by providing options like forbearance to prevent falling behind on their payments.
“We are doing all we can to help those adversely impacted by the coronavirus, including by immediately suspending foreclosure sales and evictions during this challenging time,” said Donna Corley, executive vice president and head of Freddie Mac’s Single-Family business in a press statement. “These eviction and foreclosure stoppages are just one part of the comprehensive assistance we’re providing borrowers to help protect our communities. We are also expanding relief available through our well-known forbearance programs, allowing us to reach the majority of affected borrowers as expeditiously as possible.”