Small Business Relief Tracker: Funding, Grants And Resources For Business Owners Grappling With Coronavirus
Some 30 million American small businesses are high on the coronavirus’ list of victims. Nearly half of these companies say the pandemic is to blame for unprecedented revenue declines, and with no clear end in sight, the possibility of temporary closures has become a reality for many.
In an effort to help business owners find financial relief, we’ve rounded up all of the government agencies, private companies and nonprofit organizations that are extending support. (See here for the business software companies that are also rolling out free products and services.)
We’ll be adding to this list as the situation develops, so check back for updates.
The $2 trillion stimulus bill will include a $367 billion program aimed at helping small businesses continue to make payroll.
The U.S. Small Business Administration (SBA) is offering Economic Injury Disaster Loans up to $2 million per small business, and business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan. (SBA’s traditional loan programs also remain available.)
The Main Street Business Lending Program, a new initiative announced by the Federal Reserve, will complement efforts by the SBA and further support lending to eligible small and medium-sized businesses.