The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. SBA is currently offering:
First Draw PPP Loans for first-time program participants
Second Draw PPP Loans beginning January 13 for certain businesses who have previously received a PPP loan
SBA is currently accepting Paycheck Protection Program PPP loan applications from participating community financial institutions (CFIs) and lenders with under $1 billion in assets, which includes approximately 5,000 institutions, including community banks, credit unions, and farm credit institutions. Lender Match can help you find a participating lender. The program will open to all lenders on January 19, 2021.
Visit the U.S. Small Business Administration Coronavirus (COVID-19): Small Business Guidance & Loan Resources to find guidance for small and mid-sized businesses and employers impacted by COVID-19, an economic loan program, other SBA products and resources, guidance for businesses with federal contracts, and local assistance through district offices.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act and the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 provide fast and direct economic assistance for American workers, families, and small businesses, and preserve jobs for American industries. Learn more.
Many States offer guidance for businesses and individuals impacted by COVID-19. We have compiled a list of local and state government websites for the states Federal conducts business below:
Arlington Small Business Emergency GRANT (Giving Resiliency Assets Near Term) Program (application opens in early May)
Below are resources that are available to assist small and midsize businesses through these challenging times. You are encouraged to research these programs to determine which might be of assistance to your business.
RWCF is working to collect information and links to resources that will help restaurants and workers deal most effectively with the COVID-19 Emergency. Click here for an up-to-date list.
Facebook is offering $100M in cash grants and ad credits to help during this challenging time. Apply here.
Hello Alice is offering $10,000 grants being distributed immediately to small business owners impacted by coronavirus. In addition to funding, grant recipients will receive ongoing support from the Hello Alice community.
Opportunity Fund, which specializes in money lending to small businesses owned by women, immigrants and people of color, is collaborating with investors and nonprofits to put together a coronavirus relief fund that will provide grants and low-interest rate loans.
The Spanx by Sara Blakely Foundation is giving 1,000 grants of $5,000 each to female entrepreneurs in the U.S. The window for applications will open on May 4, June 1, July 6, and August 3. Click here for more information.
GoFundMe will issue $500 matching grants to qualifying businesses that raise at least $500 on GoFundMe.com.
Kiva is offering 0% interest loans, expanding loan eligibility for more businesses in the US, increasing their maximum loan threshold from $10,000 to $15,000 and extending their grace period to up to 6 months for new borrowers.
To help deliver the working capital that businesses need, Honeycomb is offering 45-day payment free periods, 6-month interest-only periods and reducing their posting, success, and investor fees.
Mainvest, a crowdfunding platform, is offering a $2,000, zero-interest, 120-day loan for brick & mortar businesses affected by the shutdown when they launch a capital raise through their site.