Guide to understanding what’s in the new federal relief package for small businesses

Congress approved a new federal relief package to help struggling small businesses weather the coronavirus pandemic, putting an end to months of ongoing negotiations and congressional inaction.

COVID-19 Loans & Grants

As developments continue to unfold in response to the spread of COVID-19, we know many small businesses have questions about implications in the workplace and funding options to help bolster their businesses during this difficult time. We are compiling relevant tips and resources and information on new funding opportunities and policy developments that we are sharing on our website and through online presentations. We will be posting daily updates to this page with useful information about the ways small businesses can prepare for the impact of COVID-19 on their business and community.

Featured
State loan/grant programs
California

California’s Infrastructure and Economic Development Bank (IBank)

California Rebuilding Fund

  • Loan program to support California’s small businesses
  • Businesses eligible if they employed 50 or fewer employees (FTEs) and had gross revenues of less than $2.5 million or below in 2019 
  • Loans will need to be paid back over a 3- or 5-year term with a fixed annual interest rate that is currently 4.25%.

Area served: California
Audience: Small Business Owners

Application deadline: Open, no end date posted
Featured
Nonprofit loan/grant programs
Florida, Georgia, Illinois, New York, Wisconsin

Association for Enterprise Opportunity

Fiserv Back2Business Grant

Fiserv is giving back to help small businesses get Back2Business with a program focused on helping to jump-start Black- and minority-owned small businesses in hard-hit communities. Back2Business is designed to help stabilize and grow small businesses, with business consulting services, leading Clover payments technology solutions from Fiserv and financial support for employee payroll, rent or lease payments, operations equipment and resources.

Area served: Florida, Georgia, Illinois, New York, Wisconsin
Audience: Small Business Owners

Application closed
Nonprofit loan/grant programs
Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, West Virginia

Southern Opportunity and Resilience Fund

SOAR Fund

The Southern Opportunity And Resilience (SOAR) Fund provides flexible, affordable capital and free business support services to small businesses and nonprofits across the south and southeast to help them navigate and rebuild from the Covid-19 economic crisis. Sign up to learn more and be the first to be notified when applications are open.

Area served: Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, West Virginia
Audience: Small Business Owners, Non-profits

Application deadline: Open, no end date posted
Local government loan/grant programs
California

East LA Entrepreneur Center

East LA Entrepreneur Center Small Business Emergency Loan

The loan is available to businesses affected by COVID19. Businesses must be located within 10 miles of the Maravilla Service Center or serving the unincorporated areas of LA County Supervisorial District 1.

Area served: California
Audience: Small Business Owners

Application deadline: Open, no end date posted
Local government loan/grant programs
Oregon

Oregon Worker Relief Fund

Small Enterprise Fund

The Small Enterprise Fund provides one-time relief to Oregon businesses who have been excluded from federal relief assistance programs such as the Paycheck Protection Program due to owners’ immigration status. Applications are processed on a rolling basis.

Area served: Oregon
Audience: Small Business Owners

Application deadline: Open, no end date posted
Local government loan/grant programs
California

City of Stockton

Stocked Full of Produce Grant Program

The City’s Stocked Full of Produce Grant Program addresses food insecurity through grant funding to help with infrastructure upgrades to retail stores, to promote the sale and storage of healthier food options. Grants can be used for improvements, such as installing new refrigeration or shelving. Grant funds are available up to $10,000.

Area served: California
Audience: Small Business Owners

Application deadline: Open, no end date posted
Local government loan/grant programs
California

Los Angeles County Development Authority

Small Business Stabilization Loan Program

The Los Angeles County Development Authority has launched an affordable and flexible business loan program to support and help stabilize businesses in the region. Small Business Stabilization Loans range from $50,000 to $3 million, and can be used for working capital, equipment purchases, inventory, or refinancing of existing loans at higher interest rates.

Area served: California
Audience: Small Business Owners

Application deadline: Open, no end date posted
Local government loan/grant programs
California

City of Stockton

Storefront Beautification Micro Grant Program

The Storefront Beautification Micro Grant Program offers reimbursable grants of up to $2,000 for businesses located along targeted commercial corridors within city limits. The program assists small business owners to improve their storefronts with the replacement and/or improvements of windows, lighting, paint, awnings, signage and planters and trellises.

Area served: California
Audience: Small Business Owners

Application deadline: Open, no end date posted
Nonprofit loan/grant programs
California

Working Solutions

Small Business Revolving Loan Fund

Working Solutions is pleased to announce the launch of a new Small Business Revolving Loan Fund to serve San Francisco’s District 10. In partnership with Renaissance Entrepreneurship Center, the Fund will provide affordable capital and free business consulting to businesses located in Bayview Hunters Point and other D10 neighborhoods (94124, 94134, 94107, 94103, 94110). Funding for this program is made possible by the D10 Implementation Committee. Applications will be accepted on a rolling basis.

Area served: California
Audience: Small Business Owners

Application deadline: Open, no end date posted
Corporate loan/grant programs
Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont

Vistaprint, Boston Celtics Shamrock Foundation, NAACP

Power Forward Small Business Grant

The Power Forward Small Business Grant program aims to create a lasting impact through the economic empowerment of Black-owned small businesses across New England. Through a joint commitment of $1 million, Vistaprint and the Boston Celtics are teaming up with the NAACP to award transformative grants of $25,000 on a rolling basis. Through this initiative, grant recipients will have opportunities to be featured on national co-branded platforms along with receiving marketing and design resources customized to their specific needs to help their business grow and thrive.

Area served: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont
Audience: Small Business Owners

Application deadline: Open, no end date posted

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National Resources

Featured national resource
Government loan/grant programs
National

Small Business Administration

Economic Injury Disaster Loan Advance

On March 24, the Small Business Administration has authorized the increase in loan amounts from $150,000 to $500,000, starting on April 6, 2021.

Audience: Small Business Owners, Self-employed, Non-profits

Application deadline: Friday, December 31, 2021
Featured national resource
Government loan/grant programs
National

SBA - U.S. Small Business Administration

PPP Loan Forgiveness Forms and FAQ

The SBA recently released its PPP Loan Forgiveness Application form. We are providing highlights and examples from the form below to help guide you through the process. If you have specific questions not covered here, please ask on our Community page where you can engage with business experts and other small business owners. The SBA has announced that it will begin accepting forgiveness application forms on August 10.

Audience: Small Business Owners, Self-employed, Non-profits

Application deadline: Open, no end date posted
Featured national resource
Corporate loan/grant programs, Local government loan/grant programs, Low interest loans, Nonprofit loan/grant programs, State loan/grant programs, Government loan/grant programs
National

Small Business Majority

Tips on finding funding and avoiding predatory lending during COVID-19

With state-mandated lockdowns and business closures, small business owners across the country are struggling to pay employees, rent, overhead costs and more. Now more than ever, it is important to be wary of predatory lenders as you seek out capital to keep your business afloat. Our guide to avoiding predatory lending includes guidelines for applying for PPP and EIDL, a checklist to determine if a loan is predatory and an outline of the Small Business Borrowers' Bill of Rights.

This document has been translated into Chinese, Vietnamese, Korean, Burmese, Khmer, Hmong, Bangladeshi, Nepali, Bhutanese, Hindi, Urdu, Punjabi, Thai, Lao, Tagalog, Samoan, Tongan and Marshallese in partnership with the National Coalition for Asian Pacific Americans Community Development with a grant from the Ewing Marion Kauffman Foundation.

Audience: Small Business Owners, Self-employed, Non-profits

Application deadline: Open, no end date posted
Featured national resource
Government loan/grant programs
National

U.S. Small Business Administration

Shuttered Venue Operators Grant

The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance.

Audience: Small Business Owners

Application deadline: Open, no end date posted
Featured national resource
Corporate loan/grant programs, Local government loan/grant programs, Low interest loans, Nonprofit loan/grant programs, State loan/grant programs
National

Small Business Majority

Paycheck Protection Program lenders

Here is a list of lending institutions that we believe are accepting PPP applications from new clients, including both first-time PPP applicants and "Second Draw" applicants. We advise checking with your existing bank to see if they are offering PPP, or using the SBA’s Lender Match search feature to find a lender near you. We are updating this list daily; however, this list is not exhaustive, nor are we able to verify at this time that the institutions listed below are successfully processing PPP applications. We will update this list as we learn more. For any errors or omissions, please contact [email protected].

Audience: Small Business Owners, Self-employed

Application deadline: Open, no end date posted
Featured national resource
Government loan/grant programs
National

SBA - U.S. Small Business Administration

Paycheck Protection Program

Congress in late December passed a new round of the Paycheck Protection Program and other small business aid.

The law includes a "second draw" PPP loan, new Economic Injury Disaster Loan program and extended traditional SBA loan relief programs. Here's what we know.

Audience: Small Business Owners, Self-employed, Non-profits

Application deadline: Wednesday, March 31, 2021
Corporate loan/grant programs
National

1863

Recover. Rebuild. Resilience.

The program is for Black businesses based in Washington, D.C. The e-learning and curriculum is open to the Greater Washington, D.C. Region to help them navigate the short term challenges rising from COVID-19 and reach their #Beyond5 years in business milestone.

- $5,000 in grant funding*

- 20 hours of curated learning

- 3 months of business coaching

- Access to the 1863 member network

Audience: Small Business Owners

Application deadline: Tuesday, June 1, 2021
Corporate loan/grant programs
National

KKR, HelloAlice, Global Entrepreneurship Network

KKR Small Business Builders

Created as a key pillar of KKR's COVID-19 Relief Effort, KKR Small Business Builders (SBB) aims to support entrepreneurs and their small businesses around the world. The grants are designed to help business owners sustain their enterprises, maintain or create jobs, and spur economic opportunity as they respond to the ongoing COVID-19 crisis and recover from its resultant economic dislocation.


Audience: Small Business Owners

Application deadline: Wednesday, June 2, 2021
Low interest loans, Nonprofit loan/grant programs
National

Crowdfund Better

COVID-19 Crowdfunding Relief Initiatives

A list of crowdfunding platforms that have created special COVID-19 relief initiatives for U.S.-based campaigns.

Audience: Small Business Owners, Self-employed

Application deadline: Open, no end date posted
Nonprofit loan/grant programs
National

Restaurant Workers' Community Foundation Zero Interest Loans for Restaurants

The RWCF is in the process of working with our legal advisors to develop this area of work. In the coming weeks, we will produce a draft set of criteria for small businesses that can be applied fairly, and which align with our mission of supporting hospitality industry leaders committed to creating better working conditions across our four program areas: wage fairness and career ladders, gender equity and sexual violence, racial justice and support for the immigrant community, mental health and substance abuse. As we develop criteria, we will explore whether or not we can or should publicly name the businesses supported through the program, but at the very least, we will report on number of loans made and other relevant data. The Restaurant Workers’ COVID19 Crisis Relief Fund is currently open.

Audience: Small Business Owners, Employees, Self-employed, Non-profits

Application deadline: Open, no end date posted
Government loan/grant programs
National

National Independent Venue Association

Save Our Stages

NIVA has assembled the Implementation Task Force and is working with the Small Business Administration as they promulgate regulations - we are working hard to make sure that NIVA members receive the help they need via this program. We seek to ensure the emergency relief is dispersed as Congress intended, that the instructions and process to apply for grants ensure that the process is implemented accurately, fairly and as expediently as possible.

Since it could take many weeks, even months for the funding to flow, the NIVA Emergency Relief Fund, with The Giving Back Fund as its 501(c)3 fiscal sponsor, continues to raise money to assist the venues at greatest risk of permanently going under as we wait for the grants to be issued.


Audience: Small Business Owners

Application deadline: Open, no end date posted
Corporate loan/grant programs
National

Google and Alphabet

Google Ad Credits

To help address some of these challenges, Google is offering more than $400 million in Google Ad credits to small businesses.

Audience: Small Business Owners

Application deadline: Open, no end date posted
Nonprofit loan/grant programs
National

Kiva

Kiva loan

Venturize is partnering with Kiva to bring affordable capital to small business owners during these challenging times. Kiva provides loans of $1,000-$15,000, zero-percent interest and no fees. There is a 6 month grace period and then fixed monthly principal payment (12-36 months). Funds are raised through community-backed crowdsourcing. Kiva will offer Venturize-referred applicants priority review if you apply through this link and mark "Venturize" as the answer to "how did you hear about Kiva." 

Audience: Small Business Owners

Application deadline: Open, no end date posted
Nonprofit loan/grant programs
National

GoFundMe

The Small Business Relief Initiative

As part of the Small Business Relief Initiative, GoFundMe, Intuit QuickBooks, Yelp, GoDaddy, and Bill.com have each donated to the Small Business Relief Fund. GoFundMe.org, the charitable and advocacy arm of GoFundMe, started the Small Business Relief Fund to benefit small businesses. Supporters can donate to the Small Business Relief Fund, which will issue $500 matching grants to qualifying businesses that raise at least $500 on GoFundMe. More partners will be announced in relation to this initiative at a later date.

Audience: Small Business Owners

Application deadline: Open, no end date posted
Corporate loan/grant programs
National

Nav

Nav’s Small Business Grant

Up to $10,000 to take your business to the next level. The next round will open April 2021.

Audience: Small Business Owners

Application deadline: Open, no end date posted
Nonprofit loan/grant programs
National

Connect2Capital

Connect2Capital Loan

Connect2Capital is an online marketplace of nonprofit lenders. Fill out a short form to get connected to a network of lenders that may be able to help.

Audience: Small Business Owners

Application deadline: Open, no end date posted
Nonprofit loan/grant programs
National

Amber Grants for Women

Amber Grant

The Amber Grants began in 1998. Today, WomensNet carries on that tradition, giving away at least $10,000 every month in Amber Grant money. We’ve also expanded our grant-giving to include a year-end grant of $25,000.

Audience: Small Business Owners, Self-employed, Non-profits

Application deadline: Open, no end date posted
Corporate loan/grant programs
National

SoGal Foundation

SoGal Black Founder Startup Grant

Black women entrepreneurs receive less than .5% of venture capital funding. We are standing up to help change that.


SoGal Foundation has teamed up with Winky Lux, bluemercury, twelveNYC, and other sponsors to make a small step towards progress by providing several $10K and $5K cash grants to Black women or nonbinary entrepreneurs. Awardees will also receive tactical help navigating the fundraising environment at large so that they will have a more equitable opportunity at scaling the next billion dollar idea. They will also receive lifetime “ask-me-anything” access to the SoGal Foundation and SoGal Ventures teams.

Audience: Small Business Owners

Application deadline: Open, no end date posted
Government loan/grant programs
National

United States Department of Agriculture

USDA Farm Ownership Loans

No current or previous farm ownership requirements and 100 percent financing available make FSA direct farm ownership loans a valuable resource to help farmers and ranchers become owner-operators of family farms, improve and expand current operations, increase agricultural productivity, and assist with land tenure to save farmland for future generations. FSA’s Direct Farm Ownership loans are used to: buy a farm or ranch, enlarge an existing farm or ranch, make a down payment on a farm, purchase of easements, construct, purchase or improve farm dwellings, service buildings or other facilities and improvements essential to the farm operation, promote soil and water conservation and protection, pay loan closing costs.

Audience: Small Business Owners, Self-employed

Application deadline: Open, no end date posted
Nonprofit loan/grant programs
National

Women Who Tech

Women Startup Challenge Grants Program

Equity-free grants will be awarded by Women Who Tech to women-led tech startups on a rolling basis through 2021.

Audience: Small Business Owners

Application deadline: Open, no end date posted
National

Intuit

Intuit Aid Assist

Intuit Aid Assist—a free service for everyone—helps U.S.-based businesses, self-employed, contractors, freelancers, and gig workers understand different business relief programs available due to the COVID-19 crisis. Start with a loan eligibility assessment or get an estimate with loan calculators.

Audience: Small Business Owners, Self-employed

Application deadline: Open, no end date posted
Government loan/grant programs
National

United States Department of Agriculture

USDA Guaranteed Farm Loan Program

An alternative loan option for those seeking commercial lending assistance is the Guaranteed Farm Loan Program. Farm Service Agency works with USDA-approved banks and other commercial lenders. You apply for these loans through the approved lender and agree to their terms and conditions. Guaranteed Farm Loans are only available for family farmers or ranchers and must be used for farm ownership and operating expenses.

Audience: Small Business Owners, Self-employed

Application deadline: Open, no end date posted
Government loan/grant programs
National

United States Department of Agriculture

USDA Direct Farm Operating Loan

The maximum loan amount for this loan is $400,000. There is no down payment requirement. Interest rates are calculated monthly and are posted on the 1st of each month. The purpose of the loan must be essential to the success of the farming or ranching operation. The funds may be used to purchase equipment, seed, livestock, and other necessities. They can be used to refinance certain farm-related debts (excluding real estate). Repayment terms vary from 1 to 7 years. The length of the loan depends on the amount and purpose of the loan. Collateral is required. Collateral for farm operating loans may be required up to 150% of the value of the loan.

Audience: Small Business Owners, Self-employed

Application deadline: Open, no end date posted
Corporate loan/grant programs, Local government loan/grant programs, Low interest loans, Nonprofit loan/grant programs, State loan/grant programs
National

SBA - U.S. Small Business Administration

Paycheck Protection Program: For self-employed and independent contractors

The SBA has issued additional guidance around how self-employed individuals and independent contractors can qualify for the Paycheck Protection Program.

Audience: Small Business Owners

Application deadline: Open, no end date posted
Government loan/grant programs
National

United States Department of Agriculture

USDA Microloan Programs

The focus of Microloans is on the financing needs of small, beginning farmer, niche and non-traditional farm operations, such as truck farms, farms participating in direct marketing and sales such as farmers’ markets, CSA’s (Community Supported Agriculture), restaurants and grocery stores, or those using hydroponic, aquaponic, organic and vertical growing methods.

Audience: Small Business Owners, Self-employed

Application deadline: Open, no end date posted
Nonprofit loan/grant programs
National

Community Foundation Public Awareness Initiative

Coronavirus Relief Efforts

325 U.S. community foundations in all 50 states, plus the District of Columbia, have created relief funds to support those affected by COVID-19, directing critical relief to local nonprofits and partnering with local governments and health organizations to help contain its spread.

Audience: Small Business Owners, Non-profits

Application deadline: Open, no end date posted
Low interest loans, Nonprofit loan/grant programs
National

RCAC

RCAC Small Business Loans

RCAC is a 501(c)(3) nonprofit organization that provides training, technical and financial resources and advocacy so rural communities can achieve their goals and visions. RCAC’s Small Business Loan Program assists businesses to retain or create jobs and thus improve the economic condition of rural communities. This program offers short-term loans (up to $250k) for working capital and lines of credit as well as long-term loans for real estate and equipment. Most small businesses rely on lenders to provide the capital they need for acquisitions, capital improvements, business expansions and to bridge cash flow gaps. Without loans, many small business owners would be unable to realize their dreams of running their own business or expanding their operations. RCAC’s business loans are tailored to the needs of the particular business with flexible terms and requirements.

Audience: Small Business Owners

Application deadline: Open, no end date posted