COVID-19 Loans & Grants

As of May 5, the Small Business Administration (SBA) is no longer accepting new PPP applications. The SBA is currently offering PPP loans originated only by participating community financial institutions including Certified Development Companies (CDCs), SBA Microlenders, Community Development Financial Institutions (CDFIs), and Minority Depository Institutions (MDIs) until May 31, 2021 or until remaining funds are exhausted. Please note that not all community financial institutions are participating in PPP. 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]

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.

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

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." 

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

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.

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.

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.

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.

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.

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.

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.

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