- Loan program to support California’s small businesses
- Businesses eligible if they employed 50 or fewer employees (FTEs) and had gross revenues of less than $2.5 million or below in 2019
- Loans will need to be paid back over a 3- or 5-year term with a fixed annual interest rate that is currently 4.25%.
Guide to understanding what’s in the new federal relief package for small businesses
COVID-19 Loans & Grants
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.
California’s Infrastructure and Economic Development Bank (IBank)
California Rebuilding Fund
Area served: California Audience: Small Business Owners
Association for Enterprise Opportunity
Fiserv Back2Business Grant
Fiserv is giving back to help small businesses get Back2Business with a program focused on helping to jump-start Black- and minority-owned small businesses in hard-hit communities. Back2Business is designed to help stabilize and grow small businesses, with business consulting services, leading Clover payments technology solutions from Fiserv and financial support for employee payroll, rent or lease payments, operations equipment and resources.
Area served: Florida, Georgia, Illinois, New York, Wisconsin Audience: Small Business Owners
State of California
California Small Business Covid-19 Relief Grant Program
- Grants between $5,000 and $25,000 for California small businesses
- First round applications closed on January 13, 2021
- Second round of applications open February 2 to 8, 2021
- Visit website for more information and eligibility requirements
Area served: California Audience: Small Business Owners
Wisconsin Economic Development Corporation
Disaster Recovery Microloans
Kenosha businesses that suffered damage from civil unrest in the past week can apply for up to $20,000 in loan funds to help cover the costs of clean-up, restoration and repairs. The loans, which were announced by Governor Evers on Sept. 1, are funded through WEDC’s Disaster Recovery Microloan Program and will be administered by the Kenosha Area Business Alliance. The zero-interest loans will have a two-year repayment period, with the first payment deferred for at least six months.
Area served: Wisconsin Audience: Small Business Owners
Colorado Lending Source
Colorado Main Street Loan Program for Women-Owned Businesses
The Colorado Main Street Loan Program for women-owned businesses is an affordable, flexible, and friendly loan program available to women-owned (51% or more) small businesses located in Colorado. The program has been made available through the generous funding support of The Women’s Foundation of Colorado. Different loan amounts are available under this program up to $25,000 and all are repayable over forty-eight months (four years) at a fixed interest rate of 3.00% with no repayments of principal or interest due during the first six months of the loan.
Area served: Colorado Audience: Small Business Owners, Self-employed
St. Louis Economic Development Partnership
Small Business Resource Loan Program
Businesses are eligible to apply for loans of up to $5,000 for working capital. Any for-profit business in the city of St. Louis or St. Louis County that has sustained economic damage due to the COVID-19 crisis may apply. To obtain a zero-interest loan, businesses must be current on all taxes through 2018, be in good standing with state and local governments, and have been in business for at least one year. Applicants must demonstrate that their company’s jobs are threatened by the health crisis, and they must explain how the loan would retain those jobs.
Area served: St. Louis City/County, Missouri Audience: Small Business Owners
Grand Junction Business Incubator
COVID-19 Responder Loans
The Grand Junction Business Incubator is providing funds for working capital, equipment and/or inventory to be used to directly support companies responding to the COVID-19 crisis. Loan amount up to $25,000. Repayment term: 12-60 months repayment based on ability to repay. Rate: prime +1% floating with a 4% flow. $250 flat fee. First payment waived for up to 90 days. Secured if collateral is available; personal guarantees required.
Area served: Colorado Audience:
The City of Auburn
City of Auburn Municipal Funds
The City is using municipal funds to cover interest payments on loans of up to $25,000 from participating banks to small businesses within Auburn. The City has committed $500,000 for the interest payments – half from the general fund and half from the economic development budget – to the Working Capital Loan Interest Subsidy Program. Each of the nine participating financial institutions is committing up to $500,000 to make loans with terms of 1-3 years and at an interest rate of up to four percent.
Area served: Alabama Audience: Small Business Owners
Greeley Community Development Fund
The Greeley Community Development Fund assists with the financial needs of companies expanding in or locating to the City of Greeley. The Weld/Larimer Revolving Loan Fund, the City of Greeley, commercial banks in Greeley and the Hispanic Loan Program have joined together to provide the initial funding for this loan program. Short-term financing or loan guarantee for up to 45% of total project costs. Remaining project costs to be funded through banks, private investors or other loan programs. Minimum loan amount - $20,000. Maximum loan amount - $125,000. Maximum loan term - 5 years.
Area served: City of Greeley, Colorado Audience: Small Business Owners
The City and County of Broomfield
The City and County of Broomfield is offering a one-time grant of up to $7,500 to eligible Broomfield businesses to help you adapt to the new normal brought about by COVID-19. Businesses must be located within the City and County of Broomfield and must have no less than 2 full-time equivalent (FTE) employees, of which one must be non-related person, and no more than 25 employees.
Area served: Colorado Audience: Small Business Owners