COVID-19 Emergency Loans

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.

COVID-19 home Emergency loans & grants Other COVID-19 resources

Emergency capital
Colorado

Colorado Lending Source

Small Business Emergency Loans for Rural Colorado

Colorado Lending Source has made loan funds available specifically for businesses impacted by the COVID-19 pandemic that are located in rural Colorado. 

Area served: Colorado
Audience: Small Business Owners

Emergency capital
New York

Hebrew Free Loan Society

Coronavirus Financial Impact Loan

The Coronavirus Financial Impact Loan Program provides interest-free loans of $2,000-$5,000 to residents of New York City’s five boroughs, Westchester, or Long Island who are facing financial challenges caused by the Coronavirus outbreak. Loan applicants must have annual pre-tax household income at or below the income limits for their household size.

Area served: New York City, Long Island, Westchester, New York
Audience: Small Business Owners, Employees, Self-employed, Non-profits

Emergency capital
California

San Francisco Office of Economic and Workforce Development

San Francisco Small Business Mini-Grant

The city is providing nearly $1 million in mini-grants to neighborhood and women-owned businesses affected by the coronavirus outbreak. The mini-grants range from $1,000 to $10,000. Grants are available to small businesses with less than $2.5 million in gross annual receipts. Your business must also have closed or seen a 25% decline in revenue during the coronavirus outbreak. Some neighborhoods will have additional criteria. 

Area served: San Francisco, California
Audience: Small Business Owners

Emergency capital
Virginia

Arlington Economic Development

Arlington Small Business Emergency GRANT (Giving Resiliency Assets Near Term) Program

This Arlington program would provide grants of up to $10,000 to businesses and nonprofits with less than 50 employees. Businesses may use grants for employee salaries and benefits, and other business capital and operating expenses directly related to the immediate impacts of COVID-19.  

Area served: Arlington, Virginia
Audience: Small Business Owners

Emergency capital
Illinois

City of Chicago, Business Affairs and Consumer Protection

Chicago Microbusiness Recovery Grant program

**Update** The application closed at 5:00pm on Monday, May 4. Grants will be distributed via a lottery, with winners equitably distributed across business types and eligible Community Areas based on population.

Area served: Chicago, Illinois
Audience: Small Business Owners

Emergency capital
New Jersey

State of New Jersey

New Jersey Emergency Assistance Eligibility Wizard

The NJEDA wants to make it easy for organizations to understand what support programs are available to you to help stabilize your operations and get back on a pathway to growth.

Area served: New Jersey
Audience: Small Business Owners, Self-employed

Emergency capital
Missouri

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

Emergency capital
Minnesota

Minnesota Department of Economic Development

Small Business Emergency Loan

Following Executive Order 20-15, DEED has established a loan program to assist small businesses directly and adversely affected and whose industry is named in Executive Orders 20-04 and 20-08 following the COVID-19 pandemic. Small businesses are a vital part of Minnesota’s economy and this program will provide a source of working capital to help businesses sustain operations during this challenging time.

Area served: Minnesota
Audience: Small Business Owners

Emergency capital
California

Tulare County Economic Development Corporation

Business Capital Fund

The Business Capital Fund provides microloans to small businesses, up to $50,000.

Area served: Tulare County, California
Audience: Small Business Owners

Emergency capital
California

Los Angeles County Department of Workforce Development

L.A. County Employer Assistance Grant Fund

WDACS will use a portion of the funds to provide grants to qualified businesses within LA County that demonstrate significant economic hardship as a result of COVID-19 in order to help them retain workers and remain in business during these challenging times. Applications open April 8 and close on April 15.

Area served: Los Angeles County, California
Audience: Small Business Owners

Pages

National Resources

Emergency capital
National

SBA - U.S. Small Business Administration

PPP Loan Forgiveness Forms and FAQ

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. 

Audience: Small Business Owners, Self-employed, Non-profits

Emergency capital
National

Crowdfund Better

COVID-19 Crowdfunding Relief Initiatives

A list of crowdfunding platforms that have created special COVID-19 relief initiatives for U.S.-based campaigns.

Audience: Small Business Owners, Self-employed

Emergency capital
National

Community Foundation Public Awareness Initiative

Coronavirus Relief Efforts

More than 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

Emergency capital
National

Facebook

Small Business Grants Program

Up to 30,000 eligible small businesses will be able to receive a grant (cash and ad credits) from Facebook, which is allocating $100 million for the program. Applications open April 18 in New York and Seattle, April 20 in San Francisco and April 22 in other eligible cities.

Audience: Small Business Owners

Emergency capital
National

US Chamber of Commerce

Save Small Business

The U.S. Chamber of Commerce Foundation is offering grants of $5,000 to small businesses impacted. The grant application opens on April 20. To qualify, you must: Employ between 3 and 20 people; be located in an economically vulnerable community; have been harmed financially by the COVID-19 pandemic

Audience: Small Business Owners

Emergency capital
National

SheaMoisture

SheaMoisture's $1Million Fund

With SheaMoisture's $1 Million Fund, small minority and women of color-owned businesses will be able to apply for funding under different initiatives.

Audience: Small Business Owners

Emergency capital
National

Salesforce

Salesforce Cares Small Business Grant Program

**Update** Salesforce is partnering with Ureeka to offer eligible small businesses the opportunity to receive a $10,000 grant to help them through the COVID-19 outbreak. Navigate below to see if you are eligible and how to continue with an application.

Salesforce will soon be offering $10,000 grants to U.S. small businesses to provide capital to help them weather this crisis. Applications open on April 24.

Audience: Small Business Owners

Emergency capital
National

SBA - U.S. Small Business Administration

Paycheck Protection Program

* UPDATE - Funding for this program was restored on 4/23 by Congress and the program relaunched on 4/27. We advise submitting an application as soon as possible through a participating bank. *

The CARES Act includes $350 billion for federally guaranteed loans for small businesses, sole proprietors, self-employed individuals and independent contractors affected by the COVID-19 crisis. These loans can be forgiven if the proceeds are spent on payroll, benefits, mortgage interest, rent and utilities. SBA has issued interim rules for both employer businesses as well as the self-employed that answer many questions on determining eligibility and other components of these programs.

Audience: Small Business Owners, Self-employed

Emergency capital
National

Small Business Majority

Paycheck Protection Program lenders

Below is a list of lending institutions that we believe are accepting PPP applications from new clients. We advise checking with your existing bank to see if they are offering PPP, or using the SBA’s lender search feature to find a lender near you. We are updating this list daily; however, this list is not exhaustive, nor are we able to verify at this time that the institutions listed below are successfully processing PPP applications. We will update this list as we learn more. For any errors or omissions, please contact [email protected].

Audience: Small Business Owners, Self-employed

General Small Business, Emergency capital
National

SBA - U.S. Small Business Administration

Paycheck Protection Program: For self-employed and independent contractors

The SBA has issued additional guidance around how self-employed individuals and independent contractors can qualify for the Paycheck Protection Program.

Audience: Small Business Owners

Emergency capital
National

SBA - U.S. Small Business Administration

SBA Economic Injury Disaster Loan

* UPDATE - The portal is reopen for agricultural businesses. The SBA is closing the application to other types of businesses. Existing applications are being processed on a first-come, first-served basis. Check the SBA website for more information. *

The Small Business Administration is providing disaster relief loans for small businesses suffering economic injury as a result of the COVID-19 crisis. These are working capital loans intended to replace revenues lost as a result of the disaster.

Audience: Small Business Owners, Self-employed, Non-profits

Emergency capital
National

Intuit

Intuit Aid Assist

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

Emergency capital
National

Spanx by Sara Blakely Foundation

Red Backpack Fund

$5,000 grants available to women entrepreneurs to help alleviate immediate concerns.

Audience: Small Business Owners

Emergency capital
National

Hello Alice

Hello Alice Business for All Grant

Business for All is a national movement to lift up 100,000 small business owners to receive funding and mentorship.  If your business has been severely impacted by COVID-19, complete the full application as well as the COVID-19 Business for All Grant section to apply for immediate support in the form of $10,000 grants.

Audience: Small Business Owners

Emergency capital
National

LISC - Local Initiatives Support Corporation - Los Angeles

Verizon Small Business Recovery Fund

**Update** Applications must be submitted by Wednesday, May 20th at 11:59 p.m. ET.

Applications for Round 2 are now closed. The next round will open May 14th. Please see our Small Business Relief Grants webpage for further information and resources: https://www.lisc.org/covid-19/small-business-assistance/small-business-r....

LISC is offering grants to help small businesses fill urgent financial gaps until they can resume normal operations or until other more permanent financing becomes available. The funding will go to make grants of up to $10,000, especially to entrepreneurs of color, women-owned businesses and other enterprises in historically under-served places who don’t have access to flexible, affordable capital. 

Audience: Small Business Owners