COVID19 Grants – Mike Muse

COVID19

Grants and Resources

Loans and Grant Programs

General Funds

Salesforce Care: Supporting Small Businesses Through COVID-19 Recovery

Grants of up to $10,000
Application available mid-April

Facebook Small Business Grants Program

Facebook has committed to offering up to 30,000 small businesses $100 million in cash grants and Facebook advertising credits. The grants will be provided to businesses in more than 30 countries. Information is limited, but sign up to get more details from the company when they’re available.

Alice COVID-19 Business Resource Center

Application Open
$10,000 grants
Must be a legal resident of the U.S. excluding Puerto Rico
Legal for-profit business entity based in the U.S.
Applicant must be the business owner who is the Founder and/or Legal executive

Give Together Now

https://givetogethernow.org/

Placed Based Funds

California

Main Street Launch-0% interest loans for small businesses

Company must be located in San Francisco
Revenue must be under $2.5M in revenue
Must demonstrate a 25% drop in revenue since January 1, 2020

Connecticut

Connecticut Business Loan Program– 0% interest loans up to $75,000

Companies located in Connecticut
Fewer than 100 employees

Floridia

Florida Small Business Emergency Bridge loan program– 0% interest for the first year and then 12% interest (loans from $50,000-$100,000)

Must have 2-50 employees
Submit application by May 8

Illinois

As part of the Chicago Small Business Resiliency Fund, starting March 31, small businesses in Chicago could apply for low-interest loans of up to $50,000 with repayment terms of up to five years. The amount of the loan you’ll qualify for depends on your revenues before business was affected by the coronavirus.

Who’s eligible: You must demonstrate a 25% drop in revenue, have less than $3 million in revenue and fewer than 50 employees, and have no current tax liens or legal judgments.

How to apply: Apply online and include your most recent tax return, bank statements going back to October 2019 and photo ID.

Louisiana

Small businesses in Louisiana can apply for the Louisiana Loan Portfolio Guaranty Program. This program offers loans of up to $100,000 per applicant at no interest and with no payments due for the first six months. After that period, interest rates will be no more than 3.5%. A total of $50 million is available for the program.

Who’s eligible: Small businesses in Louisiana with fewer than 100 employees that are impacted by the COVID-19 crisis.

How to apply: Apply directly with a participating bank. Read more about the program and application requirements.

St. Paul, Minnesota

https://m.startribune.com/st-paul-okays-1k-emergency-grants-for-up-to-1-000-families-affected-by-covid-19/569300942/

New Jersey

New Jersey is launching a $10 million program to offer low-cost financing to New Jersey small businesses and nonprofits. The program will provide a direct loan of up to $100,000. Payments will be deferred for 12 months.

Who’s eligible: Small businesses and nonprofits that have existed in New Jersey for at least one year and have less than $5 million in annual revenue. The business must have been negatively impacted by the COVID-19 crisis and must have seen a reduction in business hours, at least a 20% decline in revenue, or meet other requirements outlined by the state.

How to apply: Applications open April 13.

New York

Application intake for the New York City Small Business Continuity Fund, which provided up to $75,000 in interest-free loans from the city to cover revenue losses, has been paused. But businesses can fill out an interest form to learn about new local and state programs as they become available.

North Carolina

North Carolina has created Rapid Recovery Loans for businesses across the state. Loans are available in amounts up to $50,000, capped at two months of current revenue. The loans come with six months at 0% interest and no required payments, and then will be subject to four-year repayment terms at 5.5% interest. Who’s eligible: Small businesses with at least one employee in North Carolina, which can include a self-employed owner. How to apply: Apply online.

Oklahoma

Oklahoma City is $5.5 million in cash incentives, no-interest loans, low-interest loans and technical assistance for small businesses. Loans can be up to $100,000.

Who’s eligible: For-profit businesses in Oklahoma City that have been in business for at least one year and have up to 50 full-time employees; the businesses must be able to demonstrate a 50% drop in revenue between March 16-April 15, compared to the same period in 2019. How to apply: Business owners can apply for the available programs online now through April 17.

Pennsylvania

Pennsylvania is offering loans to small businesses through its COVID-19 Working Capital Access Program. These loans can be up to $100,000 and have three-year terms with a 12-year amortization schedule. All loans have a 0% interest rate, except for agricultural producers, who will have a 2% fixed interest rate for the life of their loan. Who’s eligible: For-profit businesses in Pennsylvania with 100 or fewer full-time employees in retail or service sectors. Agricultural producers are also eligible. How to apply: Businesses interested in applying for a loan will have to apply in the county their business is located in.