COVID-19 Financial Resources

UPDATED 7/10/20

I’ll try to keep this list as updated as possible so feel free to check back as you need to apply for funding! This is a long post due to the vast amounts of relief available, but I know you’ve got this. If you need any help with applications, financial reports for your applications, or business strategy and pivoting, feel free to set up a call.

TIPS:

  1. Apply Early - Most programs are first come first serve and they run out of funding fast.

  2. Check back often - These programs are constantly finding more funding so check their websites.

  3. Check your bank - Many banks are offering disaster loans. Terms and options vary greatly.

RELIEF FUNDING:

Paycheck Protection Program (PPP):

  • Specifically for small businesses negatively impacted by COVID-19

  • Partial loan forgiveness for funds used on payroll, mortgage interest, rent & utilities

  • 2 year loan at 1% interest

  • 1-500 Employees

https://disasterloan.sba.gov/ela/Information/EIDLLoans

AND

https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program

Economic Injury Disaster Loan (EIDL):

  • Specifically for small businesses negatively impacted by COVID-19

  • 30 year loan at 3.75% interest

  • 1-500 Employees

https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance

SBA Express Bridge Loans:

  • For businesses who already have a relationship with an SBA Express Lender

  • Up to $25,000 bridge loan

  • Will be repaid partly or in full by proceeds from EIDL once available

https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-express-bridge-loans

COVIDCap Financial Assistance Database: 

  • A searchable database for many COVID loans/grants

  • While time consuming to read through all the options, it’s worth it - there are currently 107 financial resources for the US, and 118 for California

https://www.covidcap.com/find

CalCAP Loan: 

  • Encourages banks and other financial institutions to make loans to small businesses that have difficulty obtaining financing due to poor or no business credit. 

  • Uses a loan guarantee system. 

  • 1-500 Employees

https://www.treasurer.ca.gov/cpcfa/calcap/sb/brochure.pdf

Small Business Finance Center (SBFC) Loan:

  • Specifically for small businesses negatively impacted by COVID-19

  • Encourages banks and other financial institutions to make loans to small businesses that have difficulty obtaining financing due to poor or no business credit. 

  • Uses a loan guarantee system. 

  • 1-750 Employees

https://www.ibank.ca.gov/small-business-finance-center/

City of LA Emergency Microloan:

  • Specifically for small businesses negatively impacted by COVID-19

  • Business must have a Business Tax Registration Certificate with the City of LA

  • 0-3% interest depending on loan term

  • $5,000-$20,000

https://ewddlacity.com/index.php/microloan-program

Facebook Small Business Grant:

  • Grant - will not need to be repaid

  • Specifically for small businesses negatively impacted by COVID-19

  • Must be in a location near where Facebook operates (LA metropolitan area qualifies, but check their link for your if you are in another city)

  • 2-50 Employees

https://www.facebook.com/business/boost/grants

Jewish Free Loan Association (JFLA):

  • Specifically for small businesses negatively impacted by COVID-19

  • Interest free loan

https://www.jfla.org/coronavirus-loans

Save Small Businesses (US Chamber of Commerce):

  • Specifically for small businesses negatively impacted by COVID-19

  • Grants of $5,000

  • 2-50 Employees

https://savesmallbusiness.com/

Opportunity Fund:

  • Loans for business owners who may not qualify for traditional financing

  • Prioritize underserved populations including minority and women-owned businesses in low-income communities

https://www.opportunityfund.org/assistance-for-small-business-owners-affected-by-covid-19/

Main Street Initiative:

  • Specifically for brick and mortar businesses negatively impacted by COVID-19

  • $2,000 zero-interest loan to start

  • Loan amount will increase if you agree to assist in raising capital form your community

https://mainvest.com/main-street-initiative

OpenIdeo Pivot Challenge

  • Specifically for businesses pivoting their business model due to COVID-19

  • $10,000 in seed funding to start

https://www.openideo.com/challenge-briefs/covid-19-business-pivot-challenge

Kiva:

  • Expands regular loan terms including eligibility, amounts, and grace periods

https://www.kiva.org/blog/support-local-businesses-during-the-coronavirus-pandemic

Open Road Alliance:

  • Specifically for businesses engaging in direct COVID-19 response

  • Grants of up to $100,000

  • Loans also available for specific business sectors - see website

https://openroadalliance.org/covid-19/

Business for All:

  • Grants for small businesses

https://businessforall.helloalice.com/

Disability Funding Consulting:

  • Emergency funding for disabled citizens negatively impacted by COVID-19

https://www.facebook.com/DisabilityFundersNetwork

Disability Grants:

  • A database of grants for disabled citizens negatively impacted by COVID-19

https://www.disability-grants.org/

One Fair Wage Emergency Fund:

  • For service workers negatively impacted by COVID-19 (restaurant , ride-share, gig economy workers, etc.)

https://ofwemergencyfund.org/help

Brave Space Alliance:

  • For Trans, Non-Binary & Intersex individuals negatively impacted by COVID-19

  • Microgrants of up to $200/individual

https://ofwemergencyfund.org/help

Accion Inclusiva/Inclusive Action:

  • Aid for Street Vendors

https://www.inclusiveaction.org/covid19response

Restaurant Employee Relief Fund:

  • Funds are for restaurant and food service employees who have been impacted by COVID-19

https://rerf.us/apply-for-aid/

James Beard Relief Fund:

  • For food and beverage businesses negatively impacted by COVID-19

  • Micro-grants

https://www.jamesbeard.org/relief

Southern Smoke Emergency Relief Program:

  • For employees of restaurants, bars, or restaurant/bar suppliers

https://form.southernsmoke.org/smoke/application/

Restaurant Workers Community Foundation:

  • For restaurant workers, restaurants, and non-profits assisting restaurants

  • Grants & zero-interest loans

https://www.restaurantworkerscf.org/

The Actors Fund:

  • Links to Financial Assistance Funds through multiple creative unions - SAG-AFTRA, Musicians Union, IATSE, AEA, PGA, AGMA, etc.

https://actorsfund.org/am-i-eligible-help

Foundation for Contemporary Arts:

  • $1500 grants to artist who work in a contemporary, experimental nature

https://www.foundationforcontemporaryarts.org/grants/emergency-grants-covid-19-fund

Union Plus:

  • Links to Benefits for Union members of all kinds

https://www.unionplus.org/hardship-help/union-plus-hardship-help-benefits

Writers Emergency Fund:

  • Aid for US based professional writers

https://pen.org/writers-emergency-fund/

AMDOC Covid Fund:

  • Aid for documentary film makers

https://www.amdoc.org/create/funds-residencies/

Music Covid Relief:

  • Aggregates aid links for musicians

https://musiccovidrelief.com/

Artist Relief:

  • Must be 18 or older, have been living and working in the US for the last two years 

  • Grant of $5,000

https://www.artistrelief.org/

CORPORATE AID:

Check here for a regularly updated list of corporations offering financial aid.

https://www.uschamberfoundation.org/aid-event/corporate-aid-tracker-covid-19-business-action

A few examples:

AMEX Coalition to Back Black Businesses:

  • Meet criteria for being a Black-owned enterprise

  • Employ between 3-20 people

  • Be located in an economically vulnerable community

  • Grant of up to $5,000

https://webackblackbusinesses.com/

Shea Moisture Fund:

  • Grants for women of color entrepreneurs and minority owned businesses

https://www.sheamoisturefund.com/about-1

EnrichHER Loans/Lines of Credit:

  • For US based businesses that have been in operation at least 1 year

  • Businesses must have an annual cash flow of at least $100,00

https://go.ienrichher.com/financing-2020/

Verizon Small Business Recovery Fund:

  • Specifically for small businesses negatively impacted by COVID-19

  • Grant of up to $10,000

  • Prioritizes entrepreneurs of color, women-owned businesses and enterprises in historically underserved communities

https://www.lisc.org/covid-19/small-business-assistance/small-business-relief-grants/verizon-small-business-recovery-fund/

Salesforce:

  • Specifically for small businesses negatively impacted by COVID-19

  • Grant of $10,000

  • 2-50 Employees

  • Other eligibility requirements apply

  • Application open 4/27/20 at 8:00am PT

https://essentials.salesforce.com/salesforce-care-for-small-business/

Spanx:

  • Specifically for female-owned businesses negatively impacted by COVID-19

  • Grant of $5,000

https://www.spanx.com/the-red-backpack-fund

GRANTS TO FUND STARTUPS:

Check here for a list of grants for startups. These grants are not COVID-related, and some items may be out-of-date so make sure to read closely.

https://docs.google.com/spreadsheets/d/1er0Bm0K9YFLrcLE340ljpY5GfKZ95dOdAHkHgNIOnNQ/edit#gid=651327357

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