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Small Business Coronavirus Grants 2020

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Small Business Coronavirus Grants 2020

For small businesses around the world, the COVID-19 pandemic is more than a health crisis. Many companies are experiencing unprecedented economic disruptions, and some have been forced to shut down amidst the Coronavirus crisis. Consequently, this effect has scaled up and upended the livelihoods of many employees and their families. Whatever form the small businesses take, they need financial support to survive the crisis.

Luckily, federal governments, states, and the private sectors are offering grants to small businesses to help them mitigate the threats caused by the COVID-19 pandemic. These programs and institutions have committed to support small businesses by offering resources and relief programs that range from small business stimulus packages, grants, and funding. The small business Coronavirus aids will help the businesses stay afloat.

Below is a curated list of small business stimulus packages and grants. These small business Coronavirus resources include general grants, identity-based grants, state-specific grants, and competitions.

General Grants

Facebook Small Business Program

In regards to the global outbreak of COVID-19, Facebook has offered to support 30,000 small businesses with USD 100 million fund cash grant to cushion small businesses against the effects. The grant will help the companies with the rent costs, cover operational costs, and connect with more customers.

Who is eligible?
The small businesses must be in operation within the countries where Facebook operates. Also, they must meet the following criteria:

  • Must have 2-50 employees
  • Must have been in operation for more than one year
  • Must have been adversely affected by COVID-19

Google Ads Credits

Google has offered to help small businesses withstand the current economic and health challenge. The help is in the shape of USD 340 million advertising credits for Google Ads. For the remaining period of the year, businesses can use the credits in any of Google’s advertising platforms. The objective of this financial assistance is to lessen the cost to small businesses and allow these small businesses to keep in touch with their customers.

Any small business across the globe that uses Google Ads platform is eligible for the credits, and there is no signup or application process. The advertising credits will be added to active Google Ads accounts automatically.

GoFundMe

GoFundMe and its partners (Yelp, Intuit Quickbooks, GoDaddy, and Bill.com) are offering COVID-19 small business relief funds to businesses that have experienced negative economic impacts of the COVID-19 pandemic.

These grants are one-time matching grants and are given only to businesses that have previously created a fundraiser through Small Business Relief or had an existing account under GoFundMe. To qualify for the aid, the GoFundme fundraiser must raise at least USD 500 and verify that government directives have negatively impacted the small business in question due to the COVID-19 pandemic. The recipients of the grants must use the funds in either taking care of the employees or in catering for business expenses.

Business for all Grants

HelloAlice is an advocacy, and digital fundraising program has partnered with Verizon in offering emergency grants worth USD 10,000 for companies that have been negatively affected by the Coronavirus pandemic. For immediate support, all businesses that have been severely impacted by COVID-19 should complete the full application.

Salesforce Care Small Business Grants

As part of its corporate social responsibility, Salesforce has partnered with Ureeka to offer grants worth USD 10,000 to small businesses to help them through the Coronavirus disease pandemic.

To be eligible for the grants, the small business must:

  • Be profit-oriented company
  • Have between 2 to 50 employees
  • Have been operating for at least two full years as of March 2020
  • Have an annual revenue ranging from USD 250,000 and USD 2 Million
  • Have experienced adverse impacts from COVID-19

State and Government Grants

The United States Small Business Administration (SBA) offers a list of small business coronavirus relief options with details on each program.

Peter Synder, a Virginia based entrepreneur, has committed to offering emergency funding for businesses that employ 3-30 people and have been in operation for at least one year. The financial assistance is in the form of a non-refundable loan, unless the companies wish to pay it forward to other businesses, based in Virginia, where the funds will be disbursed.

In Texas, Black Expo has offered grants worth USD 1,000 to 100 entrepreneurs who have been operating for the last two years. Only businesses that have experienced hardship caused by COVID-19 pandemic are eligible for the local government grant.

For businesses that employ 1-50 employees, the Illinois Department of Commerce is offering up to USD 25,000 to small businesses in the form of 60 days working capital. This government grant will be realized through the Downstate Small Business Stabilization Program.

City Grants

Denver Economic Development and Opportunity (DEDO) is offering Covid 19 small business relief funds of up to USD 7,500 to small businesses within Denver City. The application process involves filling in a questionnaire to provide information on the extent of the impact of COVID-19 pandemic on business. The data will then be evaluated by DEDO staff to determine the most appropriate support for the companies.

The Arlington’s Small Business Emergency program is providing financial grants worth USD 10,000 to small businesses in Arlington to be used for rent, salaries, and operating expenses related to COVID-19 impacts.

The City of Fitchburg has offered a grant program worth USD 100,000 to small businesses in the City of Fitchburg. Each small business will receive up to USD 2,500. Preference will be given to businesses with existing loans with the community Development Small Business Loan program. The businesses must have suffered loss as a direct result of the COVID-19 pandemic to qualify for the grant.

Identity-Based Grants

Digitalundivided is a non-profit organization that supports black female entrepreneurs. Through Doonie Funds Initiative, the organization is offering grants worth USD 100 to 100 women entrepreneurs during the COVID-19 pandemic.

Competition Based Programs

SuperMaker, a startup accelerator company, has come up with The Entrepreneurial Dream Project that will award two winning small businesses that have kept their entrepreneurial dream alive amidst the global pandemic. Each will be awarded USD 50,000 and mentorship from acclaimed industry experts.

Minority Business Enterprise (MBE) Inner City Innovation Hubs has held competitions to support businesses, in the technological and innovative sectors, owned by minority persons in inner-city areas. Applications are due 15th May 2020.

MBDA has launched The Enterprising Women of Color Program to fund three women of color in any U.S state. The program aims at advancing MBDA’s commitment to supporting minority women in entrepreneurship.


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