As federal relief programs wind down, we break down the current programs still available for small businesses impacted by the pandemic.
As developments continue to unfold in response to the spread of COVID-19, we know many small businesses have questions about implications in the workplace and funding options to help bolster their businesses during this difficult time. We are compiling relevant tips and resources and information on new funding opportunities and policy developments that we are sharing on our website and through online presentations. We will be posting daily updates to this page with useful information about the ways small businesses can prepare for the impact of COVID-19 on their business and community.
Farmers, ranchers, and businesses may apply for a grant from the program which can only be used for agricultural processing -- meaning the transforming, packaging, sorting, storage, or grading of Colorado livestock, livestock products, agricultural commodities, plants, or plant products.
Area served: Colorado Audience: Small Business Owners
Area served: California Audience: Small Business Owners
In partnership with AEO, the Fiserv + Clover Back2Business Grant Program will award grants of $10,000 to eligible Black- and minority-owned small businesses that have been impacted by COVID-19 and the resulting recession.
Area served: District of Columbia, Illinois, Maryland, Oklahoma, Texas, Virginia Audience: Small Business Owners
Eligible small business owners with fewer than 25 employees within the Tahoe-Truckee Airport District who have been affected by the COVID-19 pandemic. Eligible businesses must have a “brick-and-mortar” physical presence and fixed expenses. This includes retailers, restaurants, providers of specialty goods and services, and other storefront operations.
Area served: Truckee and North Lake Tahoe, California Audience: Small Business Owners
The CCEDC administers the Region 3 Business Loan Program (BLF) for Clear Creek and Gilpin Counties. Since 1985, the CCEDC has provided over $8M in business loans, which has leveraged approximately $17.5M in area investments. The goal of the loan program is to support business retention and expansion and new job growth within Region 3. Loans are generally between $2,000 and $200,000 but will be considered on a case by case basis. CCEDC loans may be used for the purchase of real estate, furniture, fixtures, and equipment, working capital, and inventory.
Area served: Colorado Audience: Small Business Owners
The Community Foundation of Jackson Hole have created a $300,000 fund to assist local nonprofits during the coronavirus outbreak.
Area served: Wyoming Audience: Non-profits
The Madison County Small Business Loan Fund small business loans are designed to be flexible and rapid sources of low-interest loan capital to help local Madison County businesses meet pressing needs and navigate the COVID-19 crisis. Repayment is expected either from more permanent funding sources (like SBA Disaster Loans) or from the future cash flow of the business.
Area served: Madison County, North Carolina Audience: Small Business Owners
Funds for: affixed signage, window lettering, store-front awnings, new windows, new entry door, exterior painting, other exterior improvements. Possible maximum loan amount of $5,000. 0% Interest for maximum of 3 years. Before and after picture to be submitted. Copies of receipts to be submitted after work is completed.
Area served: Colorado Audience: Small Business Owners
Application Process: Applications and loans are processed and serviced by Community Enterprise Development Services (CEDS). Loan Amounts: Financing ranges from $500 to $50,000. Flexible loan terms (time period to repay the debt) up to 5 years. Credit and Rates: 7% to 11% interest rates, pledged collateral and character-based lending model. Eligibility/Access: Participation in Sistahbiz coaching and training programs required in order to be considered for funds.
Area served: Colorado Audience: Small Business Owners, Self-employed
The San Luis Valley Micro Enterprise Loan Fund (MEP) was created to assist eligible low and moderate-income business owners with financing for business start-ups and expansions. Proceeds can be used for land, buildings, equipment, working capital, inventory, and limited leasehold improvements; refinancing is limited to 30 percent of existing debt. Minimum loan of $2,500 and a maximum of $100,000. Interest rate is determined during the approval process, but is very competitive. Loan term varies – maximum five years. Two percent origination fee which includes all filing and closing costs.
Area served: Colorado Audience: Small Business Owners
On March 24, the Small Business Administration has authorized the increase in loan amounts from $150,000 to $500,000, starting on April 6, 2021.
Audience: Small Business Owners, Self-employed, Non-profits
The SBA recently released its PPP Loan Forgiveness Application form. We are providing highlights and examples from the form below to help guide you through the process. If you have specific questions not covered here, please ask on our Community page where you can engage with business experts and other small business owners. The SBA has announced that it will begin accepting forgiveness application forms on August 10.
Audience: Small Business Owners, Self-employed, Non-profits
Starting August 6, 2021, eligible small business sellers can apply to the eBay Up & Running Grants program. Fifty recipients will each receive a grant package of $10,000, including cash, coaching through eBay Seller School, and more. Apply today by sharing how you would invest the grant to grow your business online.
Audience: Small Business Owners
As part of the First Women campaign, Jane Walker and IFundWomen have teamed up to help create more opportunities for women to achieve their goals. Jane Walker will be funding a total of 30 groundbreaking women-owned businesses through the end of the year. Businesses will be selected across the Entertainment & Film, Music, Sports, STEM, Journalism and Hospitality industries to receive a $10K grant plus a one-year Annual Coaching Membership on IFundWomen.
Audience: Small Business Owners
The Pandemic Response and Safety (PRS) Grant Program provides grants to food processors, distributors, farmers markets, and producers to respond to coronavirus, including for measures to protect workers against novel coronavirus 2019 (COVID–19).
Audience: Small Business Owners
Venturize is partnering with Kiva to bring affordable capital to small business owners during these challenging times. Kiva provides loans of $1,000-$15,000, zero-percent interest and no fees. There is a 6 month grace period and then fixed monthly principal payment (12-36 months). Funds are raised through community-backed crowdsourcing. Kiva will offer Venturize-referred applicants priority review if you apply through this link and mark "Venturize" as the answer to "how did you hear about Kiva."
Audience: Small Business Owners
RCAC is a 501(c)(3) nonprofit organization that provides training, technical and financial resources and advocacy so rural communities can achieve their goals and visions. RCAC’s Small Business Loan Program assists businesses to retain or create jobs and thus improve the economic condition of rural communities. This program offers short-term loans (up to $250k) for working capital and lines of credit as well as long-term loans for real estate and equipment. Most small businesses rely on lenders to provide the capital they need for acquisitions, capital improvements, business expansions and to bridge cash flow gaps. Without loans, many small business owners would be unable to realize their dreams of running their own business or expanding their operations. RCAC’s business loans are tailored to the needs of the particular business with flexible terms and requirements.
Audience: Small Business Owners
Connect2Capital is an online marketplace of nonprofit lenders. Fill out a short form to get connected to a network of lenders that may be able to help.
Audience: Small Business Owners
Intuit Aid Assist—a free service for everyone—helps U.S.-based businesses, self-employed, contractors, freelancers, and gig workers understand different business relief programs available due to the COVID-19 crisis. Start with a loan eligibility assessment or get an estimate with loan calculators.
Audience: Small Business Owners, Self-employed
325 U.S. community foundations in all 50 states, plus the District of Columbia, have created relief funds to support those affected by COVID-19, directing critical relief to local nonprofits and partnering with local governments and health organizations to help contain its spread.
Audience: Small Business Owners, Non-profits
Black women entrepreneurs receive less than .5% of venture capital funding. We are standing up to help change that.
SoGal Foundation has teamed up with Winky Lux, bluemercury, twelveNYC, and other sponsors to make a small step towards progress by providing several $10K and $5K cash grants to Black women or nonbinary entrepreneurs. Awardees will also receive tactical help navigating the fundraising environment at large so that they will have a more equitable opportunity at scaling the next billion dollar idea. They will also receive lifetime “ask-me-anything” access to the SoGal Foundation and SoGal Ventures teams.
Audience: Small Business Owners
To help address some of these challenges, Google is offering more than $400 million in Google Ad credits to small businesses.
Audience: Small Business Owners
Amazon's Black Business Accelerator is a grant program aimed to address historical, manifest imbalances by growing and advancing equity for Black-owned businesses. The program offers financial assistance, business education & mentorship, and marketing & promotional support.
Audience: Small Business Owners
The Amber Grants began in 1998. Today, WomensNet carries on that tradition, giving away at least $10,000 every month in Amber Grant money. We’ve also expanded our grant-giving to include a year-end grant of $25,000.
Audience: Small Business Owners, Self-employed, Non-profits
States, the District of Columbia and Puerto Rico will award subgrants to eligible child care providers. The child care stabilization subgrants will provide financial relief to child care providers to help defray unexpected business costs associated with the pandemic, and to help stabilize their operations so that they may continue to provide care.
Audience: Small Business Owners, Self-employed
No current or previous farm ownership requirements and 100 percent financing available make FSA direct farm ownership loans a valuable resource to help farmers and ranchers become owner-operators of family farms, improve and expand current operations, increase agricultural productivity, and assist with land tenure to save farmland for future generations. FSA’s Direct Farm Ownership loans are used to: buy a farm or ranch, enlarge an existing farm or ranch, make a down payment on a farm, purchase of easements, construct, purchase or improve farm dwellings, service buildings or other facilities and improvements essential to the farm operation, promote soil and water conservation and protection, pay loan closing costs.
Audience: Small Business Owners, Self-employed
An alternative loan option for those seeking commercial lending assistance is the Guaranteed Farm Loan Program. Farm Service Agency works with USDA-approved banks and other commercial lenders. You apply for these loans through the approved lender and agree to their terms and conditions. Guaranteed Farm Loans are only available for family farmers or ranchers and must be used for farm ownership and operating expenses.
Audience: Small Business Owners, Self-employed
The maximum loan amount for this loan is $400,000. There is no down payment requirement. Interest rates are calculated monthly and are posted on the 1st of each month. The purpose of the loan must be essential to the success of the farming or ranching operation. The funds may be used to purchase equipment, seed, livestock, and other necessities. They can be used to refinance certain farm-related debts (excluding real estate). Repayment terms vary from 1 to 7 years. The length of the loan depends on the amount and purpose of the loan. Collateral is required. Collateral for farm operating loans may be required up to 150% of the value of the loan.
Audience: Small Business Owners, Self-employed
The focus of Microloans is on the financing needs of small, beginning farmer, niche and non-traditional farm operations, such as truck farms, farms participating in direct marketing and sales such as farmers’ markets, CSA’s (Community Supported Agriculture), restaurants and grocery stores, or those using hydroponic, aquaponic, organic and vertical growing methods.
Audience: Small Business Owners, Self-employed
Created as a key pillar of KKR's COVID-19 Relief Effort, KKR Small Business Builders (SBB) aims to support entrepreneurs and their small businesses around the world. The grants are designed to help business owners sustain their enterprises, maintain or create jobs, and spur economic opportunity as they respond to the ongoing COVID-19 crisis and recover from its resultant economic dislocation.
Audience: Small Business Owners
The second annual JOANN Minority Grant Program will provide grants totaling $100,000 to 20 small Hispanic business owners, in need of support to help achieve their business goals. Each grant recipient will receive $5,000 in Joann cash to help broaden their creative product supplies to further spread handmade happiness among their customers.
Audience: Small Business Owners
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