Small businesses have been hit hard by safety measures required to fight the spread of the coronavirus (COVID-19), including mandatory closures. However, businesses have a constantly growing number of resources and relief programs to turn to (including provisions included the stimulus package enacted by Congress). Many small businesses have so far encountered roadblocks getting federal assistance, but there are other sources of funding to consider, including grants and emergency loans from states, cities, community organizations and global non-profit organizations.
Programs are time limited and they have expiration date clearly stated. Timely response is absolutely crucial. Most businesses missed the opportunity by not being informed about programs in a timely manner.
Sign up for BRP email updates (free) to get notified about programs as they’re released.
COVID-19 SMALL BUSINESS INJURY DISASTER RELIEF PROGRAMS:
COVID-19 ECONOMIC INJURY DISASTER GRANT FOR IMPROVING ONLINE PRESENCE
$2,500 Grant for improving online presence (website redesign and improvement):
Limited to redesigning and rebuilding of your business website within a restraints of a common web design work, and does not include eCommerce, Database or any web programming and web development work. Free work can not exceed eight standard length web pages or forty working hours (approx. $2.500). The Grant is available to all Small businesses, Individuals with website used for creating profits and Private Non-profits regardless of size, including tax-exempt organizations.
Expiration Date: 10/31/2020
Source: BRP
DISTANCE LEARNING & TELEMEDICINE GRANTS
Expiration Date: Expired
Source: U.S. Department of Agriculture (USDA)
NATIONAL ENDOWMENT FOR THE ARTS GRANTS
Expiration Date: Expired
Source: National Endowment for the Arts
SBA PAYCHECK PROTECTION PROGRAM
An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses. Click here to read more about PPP loan forgiveness.
Expiration Date: Expired
Source: SBA
IRS THREE NEW CREDITS ARE AVAILABLE TO BUSINESSES HIT BY COVID-19
Employee Retention Credit:
The employee retention credit is designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. The credit is available to all employers regardless of size, including tax-exempt organizations (except small businesses who take small business loans).
Paid Sick Leave Credit & Family Leave Credit
Expiration Date: unknown
Source: IRS
We are updating this live list few times a day as more federal, state, global and local program options become available.
Sign up for BRP email updates (free) to get notified about programs as they’re released.
