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The $350 billion small business stimulus loan program—known as The Small Business Administration’s Paycheck Protection Program—ran out of money yesterday. Fortunately, a number of companies such as Vistaprint, Facebook, Verizon, Salesforce and others are offering additional grants that can help keep your small business afloat during the coronavirus crisis.
Learn more about whether your small business might qualify for some of these $5,000 to $10,000 grants and find out how you can apply today.
The Save Small Business Fund
The U.S. Chamber of Commerce, in collaboration with Vistaprint and with support from Merck, S&P Global Foundation and Travelers, launched The Save Small Business Fund. The grant will address small businesses’ immediate needs like closures and job losses. Companies can qualify if they have between three to 20 employees, are located in an economically vulnerable community and have been impacted by the COVID-19 crisis. The fund will use the Distressed Communities Index to identify small businesses based in zip codes that are most vulnerable. Applications for the fund will open on April 20.
Vistaprint donated $1 million to the fund. The company also retrofitted its machines that are normally used to make banners and signs to create 100,000 face shields for hospitals in underserved communities.
The fund hopes to distribute at least 200 grants per week for an undetermined amount of time. “Our goal is to provide small businesses with a fighting chance to succeed during this challenging time,” says Ricky Engelberg, Vistaprint’s chief marketing officer. “We automatically think about the shops on Main Street, but we can’t forget about the daycare centers, bakeries, dentist offices—all of which might also have been impacted by COVID-19.”
Hello Alice COVID-19 Business for All Emergency Grant
Hello Alice, with support from Verizon, Silicon Valley Bank, eBay and others, is offering $10,000 grants to small businesses impacted by the coronavirus pandemic. The company has also set up a COVID-19 Business Resource Center, which offers additional financial resources.
Verizon Small Business Recovery Fund
Verizon donated $2.5 million to offer grants to small businesses during this time of financial need. While the first application period is now closed, another round will begin in mid-April. For more details, click here.
Facebook Small Business Grants Program
Facebook is offering $100 million in cash grants and credits to small businesses in need. The company will provide grants to up to 30,000 eligible small businesses in more than 30 countries where the company operates (a list of locations can be found here). To apply, companies must be for-profit, have between two and 50 employees and have been in business for over a year. They must have experienced challenges related to COVID-19 and be in or near a location where Facebook operates. The program will begin accepting applications in the New York City and Seattle areas on April 18. The San Francisco Bay area will open on April 20 and other eligible U.S. cities will begin applications on April 22.
Salesforce Care Small Business Grants
Salesforce is providing $10,000 grants to small businesses impacted by COVID-19. These grants will support small businesses as they work to replenish supplies, pay salaries, pivot to adapt to these challenging times and more. To learn more about this information, visit Salesforce Care for Small Business.
AssistHer Emergency Relief Grant
Texas Women’s University is offering $10,000 grants to woman-owned small businesses impacted by COVID-19. Eligible businesses must be woman-owned, located in Texas and must be suffering economic hardships from the coronavirus crisis. For more information, check this site.
