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.
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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.