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Grants and Loan Resources

The Small Business Administration says it’s ready to make immediate “loan advances” of up to $10,000 to companies hurt by the coronavirus. But you don’t have to be a traditional company, and this is a “loan” you won’t have to pay back. It’s an overlooked feature of the $2.2 trillion coronavirus act, different from the Paycheck Protection Program that’s getting more attention.

It starts with an application on SBA.gov for an Economic Injury Disaster Loan. EIDL is the Small Business Administration’s garden-variety disaster assistance, but Congress expanded the program in its COVID-19 response bill.  Sole proprietors, with or without employees are eligible. That can include landlords, vendors or self-employed contractors.  

Here is a comprehensive list of assistance available.

Facebook Small Business Grants

Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where we operate. We’ll share more details as they become available.

Click Here to learn more.

Save Small Business Fund

A collective effort to provide $5,000 grants to many small employers.

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.

Click Here to learn more.

Go Fund Me Small Business Relief Initiative

This is intended to support our local businesses facing financial loss. Make a difference today by donating or starting a fundraiser. Are you a small business owner? Search and claim your fundraiser. Start a fundraiser if you can’t find a GoFundMe for your business. Small businesses may also apply for a matching grant from the Small Business Relief Fund.

Click Here to learn more.

The Red Back Pack Fund

The Spanx by Sara Blakely Foundation donated $5 million to support female entrepreneurs in the wake of COVID-19 and teamed up with GlobalGiving to establish the Red Backpack Fund. GlobalGiving will be overseeing the fund, making 1,000 grants of $5,000 each to female entrepreneurs in the U.S. to help alleviate the immediate needs and support the long-term recovery of those impacted by this crisis. In addition to the financial gift, each woman will also receive a “lucky” red backpack. Sara started Spanx with her “lucky” red backpack from college. It was with her every step of the way. The lucky red backpack is a symbol of starting small while dreaming big. It’s become the official icon of The Spanx by Sara Blakely Foundation. It’s a wonderful reminder that everything you need to succeed is already on your back. Thanks to MasterClass’s generous donation, all 1,000 women will also receive a free annual All-Access Pass to all 80+ Masterclass instructors, including Sara Blakely’s class on entrepreneurship, to provide mentorship to recipients during this time.

Click here to learn more.

Federal and State Grants and Loan Resources

Everything You Need to Know About Coronavirus Federal Small Business Stimulus Aid Programs

Three separate packages approved by Congress and signed by the President over the past weeks offer a variety of assistance to businesses. The U.S Chamber of Commerce has provided a breakdown of what’s in those packages and how your business can take advantage of these relief efforts.

Click Here to learn more.

Resources Provided By the Small Business Administration (SBA)

The SBA has several programs available to help businesses.

Paycheck Protection Program

The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses. Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.

Click here to learn more.

Economic Injury Disaster Loans and Loan Advance

The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

To apply for a COVID-19 Economic Injury Disaster Loan, click here.

SBA Express Bridge Loans

Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loan or used to bridge the gap while applying for a direct SBA Economic Injury Disaster Loan. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan. Find an Express Bridge Loan Lender by connecting with your local SBA District Office

Local Assistance

SBA works with a number of local partners to counsel, mentor, and train small businesses. The SBA has 68 District Offices, as well as support provided by its Resource Partners, such as SCORE offices, Women’s Business Centers, Small Business Development Centers and Veterans Business Outreach Centers. When faced with a business need, use the SBA’s Local Assistance Directory to locate the office nearest you.

Click here to learn more

Resources Provided By The Georgia Chamber Of Commerce

The Georgia Chamber is encouraging businesses and communities to make fact-based decisions and stay informed on COVID-19.

Click here to learn more.

Resources Provided By SCORE

SCORE is committed to helping businesses like yours through the unprecedented challenges from the coronavirus outbreak

Click here to learn more.

Resources Provided By The U.S. Department of Labor

The U.S. Department of Labor has resources to help workers and employers prepare for the COVID-19 virus (also known as novel coronavirus).

Click here to learn more.