Small Businesses Information
Loans, Grants, and other Resources
I am no expert, but I have been doing a lot of research on what is available to those of us that own small businesses and I can share that information with you in the hope that it might help you navigate these crazy times and maybe help you find some money or resources to get your business through this pandemic.
Federal Aid
SBA Economic Injury Disaster Loan- This Loan program allows qualified businesses to apply for up to $10,000. This Loan is currently out of funds. I will update if anything changes.
Express Bridge Loan Pilot- This Loan program allows qualified businesses (businesses who have a lending relationship with an SBA Express Lender) to get a loan of up to $25,000.
SBA Loans vs PPP Loans
Local/Specific Aid
$4,000 Amber Grant from Womens.net, the deadline to apply for this grant is April 30!
$5,000 Grant from Spanx for women owned businesses, there will be 1,000 awarded. Applications are closed right now, but the portal will open for applications again on May 4, June 1, July 6, and August 3.
Relief Funds for Beauty Industry Professionals from Beauty Changes Lives- Scholarship and Grant opportunities starting at $250 up to $1,000.
Grants for Fashion small to medium sized fashion businesses- Grants awarded up to $100,000, application open until May 3rd.
The State Business Incentive Database provides listing of tax exemptions and credits, grants, and loans available to businesses by state.
Verizon teamed donated $2.5 Million to LISC who will use the funds to provide grants of up to $10,000 to businesses facing immediate financial pressure because of Covid-19, especially entrepreneurs of color, women-owned businesses and other enterprises that don’t have access to flexible, affordable capital in historically underserved communities. The current application is closed but another round of funding will be released in mid-April. Click the link to be directed to the waitlist.
Business for All is offering grants up to $50,000 for small businesses affected by Covid-19, application open until September 25th.
Facebook is offering $100 Million in grants and ad credits to small businesses affected by Covid-19.
Texas Women’s University’s AssitHER will award $10,000 to a woman owned business that has been affected by Covid-19, link to the application.
Salesforce Care Small Business Grants will be offering $10,000 to small businesses affected, opens April 24th and closes May 1st in NJ, there is a map for grants offered so check your state!
Other Resources
National Chamber of Commerce Business Webinars- Offered on a variety of topics focused on Covid-19 and small businesses.
National Small Business Town Hall Webinar- Covid-19 and CARES Act meeting.
Families First Coronavirus Response Act (FFCRA)- The law provides employers with fewer than 500 employees with refundable payroll tax credits to cover the cost of providing the paid sick leave and the paid FMLA leave to their employees. Specifically, the law states that:
Employers will receive 100% tax credit against their payroll tax liability up to the capped amount of benefits they must pay.
Health insurance costs are also included in the credit.
Self-employed individuals receive an equivalent credit.
Yelp is offer free advertising help and page upgrades to small local businesses and nightclubs.
Love,
Cristin
