COVID-19 Loans & Grants

As developments continue to unfold in response to the spread of COVID-19, we know many small businesses have questions about implications in the workplace and funding options to help bolster their businesses during this difficult time. We are compiling relevant tips and resources and information on new funding opportunities and policy developments that we are sharing on our website and through online presentations. We will be posting daily updates to this page with useful information about the ways small businesses can prepare for the impact of COVID-19 on their business and community.

Nonprofit loan/grant programs
California

Sierra Business Council

Resilience Fund – Sierra

Eligible small business owners with fewer than 25 employees within the Tahoe-Truckee Airport District who have been affected by the COVID-19 pandemic. Eligible businesses must have a “brick-and-mortar” physical presence and fixed expenses. This includes retailers, restaurants, providers of specialty goods and services, and other storefront operations.

Area served: Truckee and North Lake Tahoe, California
Audience: Small Business Owners

Application deadline: Open, no end date posted
Local government loan/grant programs, Low interest loans, Nonprofit loan/grant programs
Colorado

City of Boulder, Boulder SBDC, Boulder area financial institutions, and the Colorado Enterprise Fund

Boulder Microloan Program

The Boulder Microloan Program is a partnership between the City of Boulder, Boulder Small Business Development Center, Boulder area financial institutions, and the Colorado Enterprise Fund. The microloan program helps provide general working capital to qualifying small businesses and nonprofit organizations in the Boulder area that have the ability to repay a loan, but may not be able to obtain financing through traditional sources. The fund provides loans up to $50,000 to businesses and nonprofit organizations with annual gross revenues of less than $2 million.

Area served: Colorado
Audience: Small Business Owners

Application deadline: Open, no end date posted
Local government loan/grant programs
Colorado

City of Grand Junction

Grand Junction Business Stabilization and Recovery Fund

On May 6, 2020, the City of Grand Junction established the Grand Junction Business Stabilization and Recovery Fund to support businesses impacted by COVID-19. Loans will be equal to the lesser of 50% of two-months of Approved Uses (see below) or $7,500 maximum. The fund will be administered as a revolving loan fund. Loans may be forgivable subject to approval and performance by the borrower on the terms and conditions that follow.

Area served: Colorado
Audience: Small Business Owners

Application deadline: Open, no end date posted
Nonprofit loan/grant programs
California

Jewish Free Loan Association

Coronavirus Small Business Loans

**Update** Interest-free loans can help residents of LA and Ventura get through the financial part of the Covid-19 crisis by offering loans without collateral, any interest, or fees. Interest free loans up to $18,000 are available for small businesses. No-fee, zero interest loans for business owners in Los Angeles and Ventura counties.

Area served: Los Angeles, Ventura counties, California
Audience: Small Business Owners

Application deadline: Open, no end date posted
Local government loan/grant programs
Alabama

The City of Auburn

City of Auburn Municipal Funds

The City is using municipal funds to cover interest payments on loans of up to $25,000 from participating banks to small businesses within Auburn. The City has committed $500,000 for the interest payments – half from the general fund and half from the economic development budget – to the Working Capital Loan Interest Subsidy Program. Each of the nine participating financial institutions is committing up to $500,000 to make loans with terms of 1-3 years and at an interest rate of up to four percent.

Area served: Alabama
Audience: Small Business Owners

Application deadline: Open, no end date posted
Low interest loans, Nonprofit loan/grant programs
Colorado

San Luis Valley Development Resources Group

San Luis Valley Micro Enterprise Loan Fund

The San Luis Valley Micro Enterprise Loan Fund (MEP) was created to assist eligible low and moderate-income business owners with financing for business start-ups and expansions. Proceeds can be used for land, buildings, equipment, working capital, inventory, and limited leasehold improvements; refinancing is limited to 30 percent of existing debt. Minimum loan of $2,500 and a maximum of $100,000. Interest rate is determined during the approval process, but is very competitive. Loan term varies – maximum five years. Two percent origination fee which includes all filing and closing costs.

Area served: Colorado
Audience: Small Business Owners

Application deadline: Open, no end date posted
State loan/grant programs
Florida

Florida Department of Economic Opportunity

Rebuild Florida Business Loan Fund

The Rebuild Florida Business Loan Fund focuses on creating and enhancing the diversification and resiliency of Florida’s economy. Its purpose is to address the current gap in available, affordable capital for businesses by providing longer term loans with higher funding levels at market interest rates. The Rebuild Florida Business Loan Fund has $40 million available to assist businesses statewide with economic development and resiliency. 

Area served: Florida
Audience: Small Business Owners

Application deadline: Open, no end date posted
Local government loan/grant programs
Colorado

City of Fruita

Fruita Small Business Emergency Assistance Fund

The purpose of the Fruita Small Business Emergency Assistance Fund is to assist qualifying Fruita small businesses who are facing financial hardships due to the COVID-19 pandemic. The fund is a partnership between the City of Fruita and the Business Incubator Center. Loans from this fund will provide gap funding for small businesses located within the city limits of Fruita to cover up to two month’s cost of operations.

Area served: Colorado
Audience: Small Business Owners

Application deadline: Open, no end date posted
Local government loan/grant programs, Low interest loans
Colorado

Town of Castle Rock and partners

Castle Rock CommUNITY Business Loan Program

The Castle Rock CommUNITY Business Loan Program is available to businesses located within the Town of Castle Rock who have been impacted by the COVID-19 pandemic. The intent of these $25,000 loans is to help small businesses survive and retain employees during these challenging times. Financing is available over twenty-four months (two years) at an interest rate of 0.00%. No repayments of principal are due during the first SIX months of the loan. Monthly payments over the remaining EIGHTEEN months will be $1,388.89.

Area served: Colorado
Audience: Small Business Owners

Application deadline: Open, no end date posted
Low interest loans, Nonprofit loan/grant programs
Colorado

San Luis Valley Development Resources Group

San Luis Valley Revolving Loan Fund

The San Luis Valley Revolving Loan Fund provides gap-financing loans for business expansion, start-ups, and retentions.  Businesses must be able to provide permanent jobs in the assisted projects and fill a majority of the positions with low- or moderate-income persons.

Area served: Colorado
Audience: Small Business Owners

Application deadline: Open, no end date posted

Pages

National Resources

Nonprofit loan/grant programs
National

Dairy Business Innovation Alliance (DBIA)

Grants for Dairy Entrepreneurs

The Dairy Business Innovation Alliance (DBIA) is a newly announced program that will provide Midwestern dairy farmers and dairy-related businesses with financial and technical support. This initiative, a joint effort coordinated by the Center for Dairy Research (CDR) and the Wisconsin Cheese Makers Association (WCMA), was designed to support and promote the diversification and addition of value-added products to the Midwest dairy industry.

Audience: Small Business Owners

Application deadline: Friday, August 14, 2020
Government loan/grant programs
National

U.S. Department of Agriculture - USDA

USDA Coronavirus Food Assistance Program

USDA’s Farm Service Agency is accepting CFAP applications now through August 28, 2020.
USDA launched the Coronavirus Food Assistance Program (CFAP) to help farmers and ranchers affected by the COVID-19 pandemic. A total of $16 billion will be available in direct payments to agricultural producers and $3 billion in food purchases.

Audience: Small Business Owners

Application deadline: Friday, August 28, 2020
Nonprofit loan/grant programs
National

Hello Alice

Hello Alice Business for All Grant

Apply for grants up to $50,000 to support business growth, including $10,000 emergency COVID-19 Business for All Grants to help small businesses in crisis. Business for All is a national movement to lift up 100,000 small business owners to receive funding

Audience: Small Business Owners

Application deadline: Friday, September 25, 2020
Nonprofit loan/grant programs
National

Kiva

Kiva loan

Kiva is a non-profit that expands access to capital for entrepreneurs around the world. More than 2.5 million people have raised over $1 billion on Kiva.

0% interest loans up to $15,000 through crowdfunding

Audience: Small Business Owners

Application deadline: Open, no end date posted
Corporate loan/grant programs
National

Facebook

Committing $100M in grants to Black communities

Applications will open in August!
Facebook is committing $100 million to the Black business community in the US. This includes $25 million in support of Black content creators and $75 million in grants of cash and ad credits to support Black-owned small businesses and nonprofits supporting the Black community.

 

Audience: Small Business Owners, Non-profits

Application deadline: Open, no end date posted
Nonprofit loan/grant programs
National

Connect2Capital

Connect2Capital Loan

Connect2Capital is an online marketplace of nonprofit lenders. Fill out a short form to get connected to a network of lenders that may be able to help.

Audience: Small Business Owners

Application deadline: Open, no end date posted
Nonprofit loan/grant programs
National

Community Foundation Public Awareness Initiative

Coronavirus Relief Efforts

325 U.S. community foundations in all 50 states, plus the District of Columbia, have created relief funds to support those affected by COVID-19, directing critical relief to local nonprofits and partnering with local governments and health organizations to help contain its spread.

Audience: Small Business Owners, Non-profits

Application deadline: Open, no end date posted
Nonprofit loan/grant programs
National

Amber Grants for Women

Amber Grant

The Amber Grants began in 1998. It was launched by WomensNet to honor the memory of a young woman, Amber Wigdahl, who died at the age of 19 – unable to fulfill her entrepreneurial dreams. In 2020, the Amber Grant has been doubled to $4,000. Earn any Amber Grant through November, 2020, and you’ll be eligible for an additional $25,000 grant at the end of this year.

Audience: Small Business Owners, Self-employed, Non-profits

Application deadline: Open, no end date posted
National

SBA - U.S. Small Business Administration

Paycheck Protection Program

* UPDATE - Congress on July 1 passed an extension to the Paycheck Protection Program, giving businesses until Aug. 8, 2020, to apply. *

The CARES Act and subsequent legislation include $659 billion for federally guaranteed loans for small businesses, sole proprietors, self-employed individuals and independent contractors affected by the COVID-19 crisis. These loans can be forgiven if the proceeds are spent on payroll, benefits, mortgage interest, rent and utilities. SBA has issued interim rules for both employer businesses as well as the self-employed that answer many questions on determining eligibility and other components of these programs.

Audience: Small Business Owners, Self-employed

Application deadline: Open, no end date posted
Low interest loans, Nonprofit loan/grant programs
National

Crowdfund Better

COVID-19 Crowdfunding Relief Initiatives

A list of crowdfunding platforms that have created special COVID-19 relief initiatives for U.S.-based campaigns.

Audience: Small Business Owners, Self-employed

Application deadline: Open, no end date posted
Government loan/grant programs
National

United States Department of Agriculture

USDA Farm Ownership Loans

No current or previous farm ownership requirements and 100 percent financing available make FSA direct farm ownership loans a valuable resource to help farmers and ranchers become owner-operators of family farms, improve and expand current operations, increase agricultural productivity, and assist with land tenure to save farmland for future generations. FSA’s Direct Farm Ownership loans are used to: buy a farm or ranch, enlarge an existing farm or ranch, make a down payment on a farm, purchase of easements, construct, purchase or improve farm dwellings, service buildings or other facilities and improvements essential to the farm operation, promote soil and water conservation and protection, pay loan closing costs.

Audience: Small Business Owners, Self-employed

Application deadline: Open, no end date posted
Corporate loan/grant programs, Local government loan/grant programs, Low interest loans, Nonprofit loan/grant programs, State loan/grant programs
National

SBA - U.S. Small Business Administration

PPP Loan Forgiveness Forms and FAQ

The SBA recently released its PPP Loan Forgiveness Application form. We are providing highlights and examples from the form below to help guide you through the process. If you have specific questions not covered here, please ask on our Community page where you can engage with business experts and other small business owners. The SBA has announced that it will begin accepting forgiveness application forms on August 10.

Audience: Small Business Owners, Self-employed, Non-profits

Application deadline: Open, no end date posted
Government loan/grant programs
National

United States Department of Agriculture

USDA Guaranteed Farm Loan Program

An alternative loan option for those seeking commercial lending assistance is the Guaranteed Farm Loan Program. Farm Service Agency works with USDA-approved banks and other commercial lenders. You apply for these loans through the approved lender and agree to their terms and conditions. Guaranteed Farm Loans are only available for family farmers or ranchers and must be used for farm ownership and operating expenses.

Audience: Small Business Owners, Self-employed

Application deadline: Open, no end date posted
Nonprofit loan/grant programs
National

Spanx by Sara Blakely Foundation

Red Backpack Fund

$5,000 grants available to women entrepreneurs to help alleviate immediate concerns.

Audience: Small Business Owners

Application deadline: Open, no end date posted
Corporate loan/grant programs, Local government loan/grant programs, Low interest loans, Nonprofit loan/grant programs, State loan/grant programs, Government loan/grant programs
National

Small Business Majority

Tips on finding funding and avoiding predatory lending during COVID-19

With state-mandated lockdowns and business closures, small business owners across the country are struggling to pay employees, rent, overhead costs and more. Now more than ever, it is important to be wary of predatory lenders as you seek out capital to keep your business afloat. Our guide to avoiding predatory lending includes guidelines for applying for PPP and EIDL, a checklist to determine if a loan is predatory and an outline of the Small Business Borrowers' Bill of Rights.

This document has been translated into Chinese, Vietnamese, Korean, Burmese, Khmer, Hmong, Bangladeshi, Nepali, Bhutanese, Hindi, Urdu, Punjabi, Thai, Lao, Tagalog, Samoan, Tongan and Marshallese in partnership with the National Coalition for Asian Pacific Americans Community Development with a grant from the Ewing Marion Kauffman Foundation.

Audience: Small Business Owners, Self-employed, Non-profits

Application deadline: Open, no end date posted
Government loan/grant programs
National

United States Department of Agriculture

USDA Direct Farm Operating Loan

The maximum loan amount for this loan is $400,000. There is no down payment requirement. Interest rates are calculated monthly and are posted on the 1st of each month. The purpose of the loan must be essential to the success of the farming or ranching operation. The funds may be used to purchase equipment, seed, livestock, and other necessities. They can be used to refinance certain farm-related debts (excluding real estate). Repayment terms vary from 1 to 7 years. The length of the loan depends on the amount and purpose of the loan. Collateral is required. Collateral for farm operating loans may be required up to 150% of the value of the loan.

Audience: Small Business Owners, Self-employed

Application deadline: Open, no end date posted
National

Intuit

Intuit Aid Assist

Intuit Aid Assist—a free service for everyone—helps U.S.-based businesses, self-employed, contractors, freelancers, and gig workers understand different business relief programs available due to the COVID-19 crisis. Start with a loan eligibility assessment or get an estimate with loan calculators.

Audience: Small Business Owners, Self-employed

Application deadline: Open, no end date posted
Corporate loan/grant programs
National

Google and Alphabet

Google Ad Credits

To help address some of these challenges, Google is offering more than $400 million in Google Ad credits to small businesses.

Audience: Small Business Owners

Application deadline: Open, no end date posted
Government loan/grant programs
National

United States Department of Agriculture

USDA Microloan Programs

The focus of Microloans is on the financing needs of small, beginning farmer, niche and non-traditional farm operations, such as truck farms, farms participating in direct marketing and sales such as farmers’ markets, CSA’s (Community Supported Agriculture), restaurants and grocery stores, or those using hydroponic, aquaponic, organic and vertical growing methods.

Audience: Small Business Owners, Self-employed

Application deadline: Open, no end date posted
Corporate loan/grant programs, Local government loan/grant programs, Low interest loans, Nonprofit loan/grant programs, State loan/grant programs
National

Small Business Majority

Paycheck Protection Program lenders

Below is a list of lending institutions that we believe are accepting PPP applications from new clients. We advise checking with your existing bank to see if they are offering PPP, or using the SBA’s lender search feature to find a lender near you. We are updating this list daily; however, this list is not exhaustive, nor are we able to verify at this time that the institutions listed below are successfully processing PPP applications. We will update this list as we learn more. For any errors or omissions, please contact resources@venturize.org.

Nonprofit lenders

Audience: Small Business Owners, Self-employed

Application deadline: Open, no end date posted
Low interest loans, Nonprofit loan/grant programs
National

RCAC

RCAC Small Business Loans

RCAC is a 501(c)(3) nonprofit organization that provides training, technical and financial resources and advocacy so rural communities can achieve their goals and visions. RCAC’s Small Business Loan Program assists businesses to retain or create jobs and thus improve the economic condition of rural communities. This program offers short-term loans (up to $250k) for working capital and lines of credit as well as long-term loans for real estate and equipment. Most small businesses rely on lenders to provide the capital they need for acquisitions, capital improvements, business expansions and to bridge cash flow gaps. Without loans, many small business owners would be unable to realize their dreams of running their own business or expanding their operations. RCAC’s business loans are tailored to the needs of the particular business with flexible terms and requirements.

Audience: Small Business Owners

Application deadline: Open, no end date posted
Corporate loan/grant programs, Local government loan/grant programs, Low interest loans, Nonprofit loan/grant programs, State loan/grant programs
National

SBA - U.S. Small Business Administration

Paycheck Protection Program: For self-employed and independent contractors

The SBA has issued additional guidance around how self-employed individuals and independent contractors can qualify for the Paycheck Protection Program.

Audience: Small Business Owners

Application deadline: Open, no end date posted
Nonprofit loan/grant programs
National

Lowe’s-LISC Partnership

Lowe’s - LISC’s Covid Rapid Relief & Resiliency Fund

Round 5 application period is now closed. Register to be notified of the next round opening August 31st.
Grants to small business owners to help meet their most immediate needs. Eligible expenses include: paying rent and utilities, meeting payroll, paying outstanding debt to vendors, upgrading technology infrastructure and other immediate operational costs.

Audience: Small Business Owners

Application deadline: Open, no end date posted
National

SBA - U.S. Small Business Administration

SBA Economic Injury Disaster Loan

***Update*** The portal is reopen for all businesses. If you have previously applied and not heard a decision, do not reapply. This portal is for new applications only. Check the SBA website for more information.

Audience: Small Business Owners, Self-employed, Non-profits

Application deadline: Open, no end date posted
Nonprofit loan/grant programs
National

GoFundMe

The Small Business Relief Initiative

As part of the Small Business Relief Initiative, GoFundMe, Intuit QuickBooks, Yelp, GoDaddy, and Bill.com have each donated to the Small Business Relief Fund. GoFundMe.org, the charitable and advocacy arm of GoFundMe, started the Small Business Relief Fund to benefit small businesses. Supporters can donate to the Small Business Relief Fund, which will issue $500 matching grants to qualifying businesses that raise at least $500 on GoFundMe. More partners will be announced in relation to this initiative at a later date.

Audience: Small Business Owners

Application deadline: Open, no end date posted
Nonprofit loan/grant programs
National

LISC - Local Initiatives Support Corporation - Los Angeles

Small Business Recovery Fund

Application opens and closes on a rolling basis. Next round opens on Aug 31. LISC is offering grants to help small businesses fill urgent financial gaps until they can resume normal operations or until other more permanent financing becomes available. The funding will go to make grants of up to $10,000, especially to entrepreneurs of color, women-owned businesses and other enterprises in historically under-served places who don’t have access to flexible, affordable capital. 

Audience: Small Business Owners, Self-employed

Application deadline: Open, no end date posted
Corporate loan/grant programs
National

PayPal

PayPal Empowerment Grants

*UPDATE - Applications closed* PayPal Empowerment Grants for Black Businesses Program, which will award up to $10,000 to more than 1,000 black-owned businesses that have been impacted by COVID-19 and civil unrest.

Audience: Small Business Owners

Application closed
Corporate loan/grant programs
National

Facebook

Small Business Grants Program

Up to 30,000 eligible small businesses will be able to receive a grant (cash and ad credits) from Facebook, which is allocating $100 million for the program. Applications open April 18 in New York and Seattle, April 20 in San Francisco and April 22 in other eligible cities.

Audience: Small Business Owners

Application closed
Corporate loan/grant programs
National

Salesforce

Salesforce Cares Small Business Grant Program

**Update** Salesforce is partnering with Ureeka to offer eligible small businesses the opportunity to receive a $10,000 grant to help them through the COVID-19 outbreak. Navigate below to see if you are eligible and how to continue with an application.

Salesforce will soon be offering $10,000 grants to U.S. small businesses to provide capital to help them weather this crisis. Applications open on April 24.

Audience: Small Business Owners

Application closed
Corporate loan/grant programs
National

SheaMoisture

SheaMoisture's $1Million Fund

This fund provides over $1 Million for small minority and women of color-owned businesses. Shea has three different initiatives companies can apply for.

Audience: Small Business Owners

Application closed
Nonprofit loan/grant programs
National

US Chamber of Commerce

Save Small Business

The U.S. Chamber of Commerce Foundation is offering grants of $5,000 to small businesses impacted. The grant application opens on April 20. To qualify, you must: Employ between 3 and 20 people; be located in an economically vulnerable community; have been harmed financially by the COVID-19 pandemic

Audience: Small Business Owners

Application closed