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Last updated March 20, 6:52 p.m. ET
Some 30 million American small businesses are high on the coronavirus’ list of victims. Nearly half of these companies say the pandemic is to blame for unprecedented revenue declines, and with no clear end in sight, the possibility of temporary closures has become a reality for many.
In an effort to help business owners find financial relief, we’ve rounded up all of the government agencies, private companies and nonprofit organizations that are extending support. We’ll be adding to this list as the situation develops, so check back for updates.
Federal Government:
The U.S. Small Business Administration (SBA) is offering up to $2 million in Economic Injury Disaster Loans for small businesses in eligible areas impacted by the coronavirus, in addition to a resource page detailing eligibility and how to apply.
The Main Street Emergency Grant Program, proposed by U.S. Senators Chris Murphy Jeff Merkley and Chris Van Hollen, would allow small businesses to apply and receive grants quickly through the Treasury Department.
State/Local Government:
Atlanta: The Atlanta City Council approved Mayor Keisha Lance Bottoms’ call for a $7 million coronavirus emergency fund that will allocate $1.5 million to small businesses.
Chicago: Mayor Lori Lightfoot revealed a $100 million Chicago Small Business Resiliency Loan Fund that will provide low-interest loans to the city’s struggling small businesses.
Denver: The city’s business owners can apply for cash grants of up to $7,500 as part of Denver Economic Development and Opportunity’s emergency relief program. Denver Mayor Michael Hancock also announced the creation of a $4 million small business relief fund.
Florida: The Florida Small Business Emergency Bridge Loan Program is providing loans of up to $50,000 with 1-year terms to small businesses with two to 100 employees.
Los Angeles: The city’s Small Business Emergency Microloan Program is offering loans ranging from $5,000 to $20,000 with 0-3% interest rates.
Massachusetts: Governor Charlie Baker announced a $10 million relief fund for Massachusetts businesses affected by the coronavirus. Funds of up to $75,000 are immediately available for companies with fewer than 50 full- and part-time employees.
Michigan: The Michigan Economic Development Corp. received approval to implement a Michigan Small Business Relief Program that will allocate $10 million in small business grants and $10 million in small business loans to local business owners.
New York City: The NYC Small Business Services is offering businesses with fewer than five employees grants to cover 40% of payroll costs for two months. Businesses with fewer than 100 employees and sales decreases of 25% or more will be eligible for zero-interest loans of up to $75,000.
Sacramento: The city established a $1 million economic relief fund for businesses that provides 0% interest loans of up to $25,000 per business.
Salt Lake City: Business owners based in the area can apply for 0% interest loans of up to $20,000 as part of the city’s emergency loan program.
San Francisco: Small businesses with fewer than five employees are eligible to receive up to $10,000 for staff salaries and rent.
Seattle: The city’s Office of Economic Development is providing $1.5 million in grants of up to $10,000 to small businesses. The mayor is also deferring tax payments for business-owner candidates and will set up a small-business recovery task force.
Wisconsin: The Wisconsin Economic Development Corp. launched Small Business 20/20—a $5 million grant program that will give companies with fewer than 20 employees up to $20,000.
Private/Nonprofit Companies:
Amazon announced a $5 million Neighborhood Small Business Relief Fund to provide cash grants to local Seattle small businesses.
Facebook announced a $100 million grant for small businesses impacted by COVID-19 and launched the Business Resource Hub, which features recommendations to help small businesses stay connected to customers and stay on track.
James Beard Foundation started a Food and Beverage Industry Relief Fund to provide micro-grants to independent food and beverage small businesses in need.
JPMorgan pledged $50 million to help struggling customers, and $8 million in aid to small businesses, specifically.
Kabbage launched an online hub to help boost sales for U.S small businesses impacted by COVID-19, including a system through which businesses can sell gift cards to consumers for use at a later date.
MainVest, a crowdfunding platform, announced its new Main Street Initiative: a $2,000, zero-interest, 120 day loan for restaurants or other brick and mortars affected by the shutdown, in addition to its normal fundraising offerings.
Mark Cuban Cos. will reimburse employees for any lunch or coffee purchases from local independent small businesses.
Opportunity Fund, which specializes in money lending to small businesses owned by women, immigrants and people of color, is collaborating with investors and nonprofits to put together a coronavirus relief fund that will provide grants and low-interest rate loans to business owners in need.
The Restaurant Workers’ Community Foundation formed a COVID-19 Emergency Relief Fund for small businesses and their restaurant workers, and is accepting donations.
Yelp CEO Jeremy Stoppelman announced the company is providing $25 million in coronavirus relief for independent restaurant and nightlife businesses in the form of waived advertising fees, and free advertising, products and services.
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