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Grants for Businesses During COVID-19

Goals

The goal is to find grants and other financial help for businesses that are for-profit and have been affected by the COVID-19 funding.

Early Findings

  • Depending on the area of the business, the local Small Business Administration can be contacted to find out about potential assistance.
  • The federal Paycheck Protection program allows small businesses to take out loans of up to $10 million. These loans can be forgiven "if a business maintains its payroll for eight weeks at employees’ regular salary levels and uses the loan proceeds for qualifying purposes". A list of banks that are accepting Paycheck Protection applications can be found here.
  • Facebook is offering a grant to many small businesses. They have $100 million worth of grants in total and the number of accepted businesses has not been disclosed. Information can be found here.
  • Google is offering funding in the form of Google ad credits. No sign-up is required, the credits are automatically added to Google Ads business accounts.
  • Alice and Verizon have partnered to offer emergency COVID-19 business grants of up to $10,000.
  • Salesforce is offering qualifying businesses a $10,000 grant to help them during the pandemic. Aside from being impacted by COVID-19, the requirements include being a for-profit company, having between two and fifty employees, being in business at least two years, and having between $250,000 and $2 million in revenue.

Summary

There are plenty of financial resources for businesses that are suffering from the effects of the current pandemic. While we did find some grant programs that accept applications nationwide, we noticed that there are many more that are state-specific. Because of this, it may be helpful to know which US state the business is in so we can look at state-specific sources as well as nationwide sources.

Proposed next steps:

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