Small businesses struggle to find relief during the COVID-19 pandemic. According to Forbes, around 30 million small businesses across the United States are in trouble, with half of that figure blaming the revenue pandemic. As states work to approve emergency financing measures for business owners, many companies close their doors and lay off staff. For many, it is hoped that this will be a temporary situation rather than permanent.
Meanwhile, we are in the present. Where can small businesses find relief right now? If you need help, this ever-growing list of resources can benefit your business.
SBA Disaster Assistance
Has your business or nonprofit been heavily influenced by COVID-1
These business disaster loans are provided through SBA's financial damages for disaster loans, which will provide up to $ 2 million dollars to small businesses in aid. In addition, loans granted to qualifying businesses can be used to pay fixed debts, wages, payments and other small business bills. You can apply for a disaster assistance loan through the SBA website.
GoFundMe Small Business Relief Initiative
What happens when you partner with GoFundMe, the world's largest social gathering platform, with Yelp, the company that connects people with great local businesses? You get a partnership that introduces small business owners to the Small Business Relief Initiative, a program to provide microgrants and fundraising tools to qualify small businesses that have been adversely affected by COVID-19.
As part of the Small Business Relief Initiative, GoFund, Yelp and accounting software provider Intuit Quickbooks pledges to donate up to $ 1.5 million in donations to the Small Business Relief Fund. Once that fund is depleted, GoFundMe will continue to issue $ 500 to match grants to eligible businesses. This will allow small businesses to continue to raise money and inspire community members to help with donations and donations.
Amazon's Neighborhood Small Business Relief Fund
Is your small business struggling in the Seattle area? You may be able to find relief in Amazon's Small Business Small Business Fund. This fund was created to provide cash grants to businesses affected by COVID-19 in and around the Seattle area.
As specified on the Fund's website, eligible businesses include those with fewer than 50 employees or less than $ 7 million in annual revenue. Other qualified businesses include those with a physical presence a few blocks away from Amazon's office building, which is open to the public, and relies on foot traffic for customers.
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Facebook Small Business Grants Program
You know what is better than 100 million followers? $ 100 million in cash grants for small businesses. Facebook's Small Business Grants Program offers $ 100 million in cash grants and advertising credits for businesses affected by COVID-19.