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The U.S. Chamber of Commerce Foundation, in partnership with Vistaprint, is going to launch the Save Small Business Fund. In this fund, they provide upto $5,000 for business who has employees between 3 to 30. They must be located in ‘vulnerable area’. They have been impacted by coronavirus.
Application – 20 April at 3 pm EST.
You can signup and you will be notified soon by email.
Coronavirus (COVID-19): Small Business Guidance & Loan Resources
Friends, In America, Government took a great decision for small business and workers to provide help in this coronavirus crisis. We know that in every country, there is a great econimic crisis going on. You will be very happy to know that on Friday, March 27, 2020, the president of the United States signed into law the CARES Act, which contain $376 billion in relief for workers and small businesses.
To learn more about the relief options available for your business, click here.
Do not fear, you do not have to be fear. There are many big companies and the Government comes further to help you. Here is the list:
The Save Small Business Fund
Hello Alice COVID-19 Business for All Emergency Grant
Verizon Small Business Recovery Fund
Facebook Small Business Grants Program
Salesforce Care Small Business Grants
AssistHer Emergency Relief Grant
Illinois Department Of Commerce
Texas AssistHER Emergency Relief Grant
Virginia entrepreneur Pete Synder
Wisconsin’s Small Business
Amazon Grant etc
There are many more companies who are going to help you. You can find the complete list here https://www.inc.com/gabrielle-bienasz/small-business-grants-2020.html
Tips for small business COVID-19
The entire world is in a tough situation because of the COVID-19 outbreak. The World Health Organization (WHO) declared COVID-19 as a pandemic. The COVID-19 outbreak is not only affecting the physical health of the public, but also the economic health of businesses. Many agencies and government organizations are working hard to lend a helping hand to small businesses, thereby preventing their downfall. Constant efforts are being put to prevent the pandemic so that it does not affect small businesses adversely.
This article aims to provide information regarding the several grants provided by the agencies and government to small business owners all over the world. Learn about the various funds provided to the small businesses and check your eligibility.
Corona Relief Bill
Decisions to grant $2 trillion to help workers have been taken by the Congress, among which $367 billion would be utilized to help the small businesses. The self-employed and the gig workers do qualify for the unemployment aid. Small companies are eligible for up to $10M in forgivable loans.
Small Business Administration (SBA) loans
The local business got affected greatly by the Covid19 pandemic. They would also have bills and loans to pay. But, there’s no need to worry. The government is providing more and more loans to help these small businesses. The US Small Business Administration (SBA) is offering low-interest rates disaster loans thereby helping small businesses to recover from the damage. The economic injury loans offer up to $2million in assistance which can be used for anything.
• The interest rate for small businesses is 3.75%.
• The interest rate for non-profit organizations is 2.75%.
It is suggested to apply for the SBA loan as soon as possible because there are many more businesses trying to apply for the same. Thus, apply as soon as possible.
General grants are being continuously received from various huge organizations like Facebook, Google, Verizon, GoFundMe, etc.
• Facebook has decided to offer $40 million to help small businesses and these funds are available in 34 different locations. Check out the locations and apply, if you’re eligible for it.
• US Chamber of Commerce Foundation in alliance with Vistaprint is going to provide funds for small businesses that have an employee size of around 3-30. The applications would begin on 20th April.
• Verizon has contributed $5 million to help small businesses. The first round is over and the second round is yet to begin shortly.
Paycheck protection program
A loan designed to provide a grant for small businesses. The amount of grant the company receives will depend on the payroll of the last 12months. One month’s worth of payroll is taken and is multiplied by 2.5. The resultant is the amount of grant provided by the Federal government to small businesses. It is recommended to apply early and it is good to keep a record on what you’re doing with it.
Economic injury disaster loan
The loan advance of $10,000 will be given which need not be repaid. Funds will be made available via an application process. Eligibility criteria are that the small business must accommodate less than 500 employees and private non-profit organizations. Business owners of all US states, Washington DC and its territories are eligible for this loan provided by SBA.
You do not have to fear about your business in this crisis time. You have to help yourself and others too. Grab the information for your business and also guide others too.
If you are small business owners, this document is very useful for you.