Grants and Loans for Small Businesses Impacted by Covid-19
With an increase in hardships due to the COVID-19 pandemic, financial assistance to small businesses is more important than ever. Below, we have gathered a list of resources to explore to help aid the adversity caused by COVID-19. We are adding resources as we become aware of them.
Grants
Facebook Small Business Grants
Facebook is offering $100M in cash grants and ad credits. However, they have already received an overwhelming amount of applications. They will be providing new resources soon.
GoFundMe
GoFundMe is providing matching grants of $500 to small businesses that have been impacted by the COVID-19 crisis, start a fundraiser on GoFundMe, and raise $500 from other supporters.
For San Francisco, San Mateo, and Santa Clara Businesses
LIIF is making grants to private family child care providers who are experiencing financial hardships.
For Berkeley Businesses
The City of Berkeley is making grants of up to $10,000 available to Berkeley-based small businesses and nonprofits to enable continuity through and/or beyond the COVID-19 pandemic. NOTE: The first round is closed, but a second round is expected. Visit the City of Berkeley website here to sign up for email updates.
Facebook Small Business Grants Program for Black-Owned Businesses
The grants program is a part of Facebook’s overall commitment to invest $100 million this year in the Black community.
James Beard Foundation Relief Fund
Provides critical financial assistance to small, independent restaurants that, due to the COVID-19 national disaster, have an immediate need for funds to pay set operating expenses and keep from going out of business. Applications are currently suspended due to overwhelming response; Foundation will notify its audience if the application will be reopened.
For Oakland Black Businesses
SoOakland is issuing $600 grants to black businesses affected by Covid-19. They are additionally issuing grants of $1,500-$2,000 to Black-owned businesses with storefronts damaged by the recent protests. You cannot receive combined amounts.
Grant Space
Grant Space also has a comprehensive list of relief options for non-profits, individuals, and small businesses.
Hello Alice
Hello Alice is making grants of up to $10,000 to small businesses across the United States that have been impacted. Grant recipients will also receive ongoing support through the online Hello Alice community. Applications are accepted on a rolling basis.
Opportunity Fund Small Business Relief Fund
Offers support for eligible small businesses impacted by the COVID-19 crisis — especially those run by women, people of color and immigrants.
Salesforce San Francisco Small Business Grants
San Francisco Small Businesses, Salesforce is offering eligible small businesses in San Francisco the opportunity to receive a $10,000 grant to help them through the COVID-19 outbreak.
Loans
RRLF
ICA Fund Good Jobs’ Rapid Response Liquidity Fund (RRLF) is a zero-interest loan program designed to address the immediate liquidity crisis faced by many of the Bay Area’s companies. The RRLF pairs emergency capital with expert guidance from ICA’s team and network of advisors to help our companies maintain financial stability and ensure that as few workers as possible lose their jobs.
SBA Program: Paycheck Protection Program (PPP)
The PPP Loan is specifically designed to enable businesses to retain their employees during this time of crisis and uncertainty. The program’s initial $349 billion allotment was exhausted after just 14 days but there are still funds available from the second round of funding. If you have already applied for a loan, please check directly with the institution through which you applied for a status update and instructions on next steps.
Kiva
Kiva has updated their loan terms to better serve entrepreneurs that have been impacted by the Coronaviris. Their loans now feature expanded eligibility, larger loans up to $15,000 and 6 month month grace period. Their loans still offer 0% interest.
Opportunity Fund
Opportunity Fund is committed to supporting small businesses who are financially struggling amidst the COVID-19 outbreak.
Economic Injury Disaster Loans (EIDL)
Only applications from agricultural business are being accepted at this time due to limitations in funding availability and the unprecedented submission of applications already received. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis. EIDL Applicants can call 1-877-641-8202 to reach a disaster loan officer.
Grameen America
In Response to COVID-19, Grameen America adapted its model to offer members needed relief and recovery.
San Diego: South County Economic Development Council
South County Economic Development Council (South County EDC) is offering 50 $5,000 no-interest loan to eating establishments in South County.
SBA Express Bridge Loans
SBA Express Bridge Loans enable small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. TMC is not an SBA Express Lender.
