More than 99% of all American businesses are small businesses, and they employ more than half of the workforce.
Preliminary studies by the US government estimate that 200,000 more businesses closed permanently because of the COVID-19 pandemic, compared to annual closures in prior years. In addition to the immediate public health crisis, the global pandemic kicked off a recession that is further impacting the survival of small businesses.
The Small Business Administration's Paycheck Protection Program aimed to provide financial support for struggling entrepreneurs and has approved nearly $224 billion in PPP loans as of April 5. The program closed applications on May 31. However, there are still other ways to get funding, either through state and local governments or through corporate initiatives.
Continue reading to see a list of emergency-funding resources available right now from public and private sources for small businesses suffering economic disruption due to the coronavirus.
You can check out all of our PPP-related coverage here.
This post was last updated on June 28, 2021.
Small Business Administration
Website: sba.gov/page/disaster-loan-applications
Shuttered Venue Operator grant
Website: https://www.svograntportal.sba.gov/s/
Financing type: Grants that do not require repayment or forgiveness.
Funding Limit: Up to 45% of their 2019 revenue, capped at $10 million. In the spring, businesses may receive a second payment at up to 50% of the first grant, as long as their 2021 first quarter revenues are not more than 30% of their 2019 revenue during the same quarter
Who it's for: Live venue operators or promoters, theatrical producers, live performing arts organization operators, relevant museum operators, motion picture theatre operators, or talent representatives can apply if they meet certain criteria.
Economic Injury Disaster Loan
Website: https://covid19relief.sba.gov/#/
Financing type: Emergency loans with 3.75% interest and a maximum period of 30 years.
Funding Limit: $150,000 until the week of April 6, then it will be increased to $500,000.
Who it's for: US small businesses, non-profits, independent contractors, freelancers/self-employed, and limited types of franchise affiliates that have been in business since January 31, 2020.
Express Bridge Loans
Website: sba.gov/LenderMatch
Financing type: Quick turnaround advance on an Economic Injury Disaster Loan
Funding Limit: $25,000
Who it's for: US small businesses and non-profits waiting to receive a Disaster Loan
City of Fort Wayne, Indiana
Website: www.mybdf.org
The Brightpoint Development Fund (BDF)
Financing type: COVID-19 Express Loan
Funding limit: up to $20,000
Who it's for: Businesses within Northeast Indiana impacted by the pandemic.
State of Colorado
Website: oedit.colorado.gov
CLIMBER (Colorado Loans to Increase Mainstreet Business Economic Recovery) Loan Fund
Financing type: Loan
Funding limit: working capital loans between $30,000 and $500,000
Who it's for: Small Colorado businesses with 5 to 99 employees that were financially stable before the pandemic but now need help to survive.
The Cincinnati Chamber Foundation and the Johnson Foundation
Website: cincinnatichamber.com/foundation-grant
Grant to Support Women, LGBTQ, and Minority Entrepreneurs
Financing type: Grants
Funding limit: $5,000 or $10,000; total fund of $100,000
Who it's for: Minority-, women-, and LGBTQ-owned small businesses that will open within 90 days in downtown Cincinnati, Over-the-Rhine, and Pendleton. The grants will focus on businesses in retail, restaurant, and customer-facing industries. Applicants must have a signed lease for the storefront they plan to open.
Grants will be awarded on a rolling basis.
Brooklyn Chamber of Commerce
Website: bringbackbrooklyn.org
Bring Back Brooklyn Fund
Financing type: Zero-interest loans
Funding limit: Expected to be $30,000; currently raising funds with a goal of $500,000
Who it's for: Small businesses in Brooklyn that have been hurt by the pandemic, shut out of other loan programs, and plan to reopen. The majority of loans are for minority- and women-owned businesses, and funding will only begin after the economy begins to re-open.
Citizens Committee for New York City
Website: citizensnyc.org/grantmaking
Neighborhood Business Grants
Financing type: Grants
Funding limit: up to $10,000
Who it's for: Small businesses in New York City that did not receive PPP or EIDL funding through the SBA. Grants will prioritize businesses owned by people of color, immigrants, and women, those that have greatest need and minimal access to resources, as well as those that modify their operations in order to remain open during the pandemic.
Applications are accepted on a rolling basis.
State of California
Website: www.CALoanFund.org
California Rebuilding Fund
Financing type: loans, plus free loan advising
Funding limit: up to $100,000
Who it's for: Small businesses with 50 or fewer employees, in under-banked areas of California. Must have had a gross revenue of less than $2.5 million in 2019.
San Francisco City Hall
Website: oewd.org
Business taxes and fees
Financing type: Deferral
Funding limit: Quarterly tax payments deferred nine months, license fees deferred three months
Who it's for: Businesses with less than $10 million in revenue
African American Small Business Revolving Loan Fund
Financing type: Loans
Funding limit: $50,000 with 0% interest; repayments deferred by 12 months, and up to 20% of the loan may be forgiven
Who it's for: Black-owned businesses with annual revenue below $2.5 million
Paid Sick Leave
Financing type: Payroll assistance
Funding limit: 40 hours additional paid sick leave time beyond the city's existing Workers and Families First program
Who it's for: Businesses with 50 or fewer employees
JPMorgan Chase
Website: impact.jpmorganchase.com
Entrepreneurs of Color Fund, Ascend, and Community Development Financial Institution partners
Financing type: Loans and interest-rate reductions
Funding limit: TBD, total donation is $8 million
Who it's for: Underserved and underrepresented entrepreneurs and small businesses in the US and globally
Kiva
Website: kiva.org/borrow
Small business loans
Financing type: Zero-interest loans
Funding limit: $15,000
Who it's for: Small businesses seeking community-based lending, as opposed to traditional financial institutions
GoFundMe
Website: www.gofundme.com/f/smallbusinessrelieffund
Small business relief fund
Financing type: Donation-matching micro-grants
Funding limit: $500, total fund is more than $2.4 million
Who it's for: Independently owned and operated small businesses with GoFundMe campaigns to offset negative impacts from the COVID-19 pandemic
Assistance from these organizations has now ended or is on hold until further notice
Ball
Website: FreshPreserving.com/MadeforMore
Ball's Made for More
Financing type: Grant
Funding Limit: Total fund is $110,000
Who it's for: 10 US-based small businesses with zero to 99 employees that use Ball products and have gone above and beyond for their communities.
Submissions are now closed.
Local Initiatives Support Corporation
Website: www.lisc.org/covid-19
Rural Relief Small Business Grants
Financing type: Grants
Funding limit: $5,000 to $20,000
Who it's for: Small businesses located in rural communities, defined as having a population of 50,000 or less.
The latest application round is closed, but you can sign up to be notified of future rounds.
City of Denver
Website:www.denvergov.org
Small Business Emergency Relief Program
Financing type: Cash grants
Funding limit: $7,500
Who it's for: The program prioritizes those industries who are most impacted by the coronavirus pandemic, such as the food industry, nail salons, barbershops, home childcare providers, and retail shops.
Applications for the most recent round closed on March 7, 2021.
State of Ohio
Website: businesshelp.ohio.gov
The Bar and Restaurant Assistance Fund
Financing type: assistance payments
Funding limit: $2,500; total fund has $38.7 million in reserves
Who it's for: Businesses with on-premise liquor permits including bars, restaurants, breweries, distilleries, wineries, casinos, and private clubs.
Applications closed on January 31, 2021.
State of Maine
Website: www.famemaine.com/business
MainVest
Website: mainvest.com/main-street-initiative
Topeka and Shawnee County
Website: visit.topekapartnership.com/host-relief
City of Irving, Texas
Website: https://www.cityofirving.org/3634/Business-Funding
Hello Alice
Website: www.covid19businesscenter.com
The Spanx by Sara Blakely Foundation
Website: www.globalgiving.org/redbackpackfund/
Uber Eats
Website: www.uber.com/us/en/coronavirus/
New York City Hall
Website: nyc.gov/covid19biz
Downtown Alliance New York
Website: downtownny.com/RentAssistGrant
City of Seattle
Website: seattle.gov/office-of-economic-development
City of Philadelphia
Website: phila-uyims.formstack.com
Salt Lake City
Website: www.slc.gov/ed/elploan/
Website: facebook.com/business
Amazon
Website: smallbusinessrelieffund.com
FedEx
Website: fedex.com/en-us/support-small-business-grants
Grubhub
Website: blog.grubhub.com/covid-19
Yelp
Website: blog.yelp.com
Vistaprint and the US Chamber of Commerce Foundation
Website: savesmallbusiness.com
City of San Francisco
Website: sf.gov/get-small-business-grant-resiliency-fund
Website: support.google.com