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April 07, 2020 | Posted in:

Businesses Helping Businesses: More Grant and Relief Opportunities

Small businesses are the backbone of our country’s economy and their sudden struggle right now is unprecedented. Larger enterprises and organizations are rallying together to help small businesses continue forward throughout this pandemic.

Applying for federal funding within the last week has certainly had its obstacles and some state funds are already at capacity. Following are some alternative support routes to help your business. Connect with your Alloy Silverstein CPA if you need assistance.

 

GoFundMe, QuickBooks, Yelp, and Bill.com

The Small Business Relief Initiative was started by GoFundMe to help small businesses that have been affected by the COVID-19 pandemic and empower their communities to rally behind them. GoFundMe has partnered with Yelp, Intuit QuickBooks, GoDaddy, and Bill.com to provide small business owners with the financial support and resources needed to continue running their businesses during and after the coronavirus crisis.

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Facebook Small Business Grants Program

Facebook has committed to offering up to 30,000 small businesses $100 million in cash grants and Facebook advertising credits. The grants are to cover workforce expenses, rent, operational costs, and helping the business to connect with more customers during these trying times. The business must have between 2 and 50 employees, have been in business for over a year, are currently experiencing COVID-19 challenges, and must be located near a location where Facebook operates. There are currently 28 applicable U.S. cities and metro areas and you have to submit your email address for more information about the program.

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Google

Google is pledging $800+ million to support small businesses and crisis response through numerous efforts. Particularly for small businesses, Google is awarding $340 million to active ad accounts to aid small businesses in staying in touch with their customers throughout the pandemic and stay-at-home orders. They are also working with the Opportunity Finance Network by donating $200 million for non-profits and financial institutions to provide more small businesses with emergency access to capital.

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Verizon Wireless #PayItForwardLive

Together with Local Initiatives Support Corporation (LISC), Verizon Wireless is contributing $2.5 million to begin offering critical relief and resiliency-building support to small businesses facing immediate financial threat because of the COVID-19 pandemic. 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. Verizon will highlight and promote these efforts through their “Pay It Forward Live” online concert series and, as consumers engage online, Verizon will unlock an additional $2.5 million in funds, bringing the total donation to a potential $5 million.

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*Note: First round of applications is closed due to overwhelming submissions, but a second round will open in April.
 

Hello Alice

Hello Alice, a resource support center for new and growing businesses, partnered with Verizon, Silicon Valley Bank, Ebay and more to offer $10,000 grants to be distributed immediately to small business owners impacted by coronavirus. In addition to funding, grant recipients will receive ongoing support from the Hello Alice community.

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Amazon Neighborhood Small Business Relief Fund

Amazon is giving back to its local community businesses in the Pacific Northwest. Applicants must have fewer than 50 employees or less than $7 million in annual revenue.  The businesses have to be located in the Seattle, WA vicinity (Bellevue, South Lake Union, Regrade neighborhoods).
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National Restaurant Association’s Restaurant Employee Relief Fund

The Restaurant Employee Relief Fund was created to help restaurant industry employees experiencing extraordinary hardship in the wake of the coronavirus disease (COVID-19) outbreak. Through this fund, one-time $500 grants will be made to restaurant industry employees who have been impacted by COVID-19, including a decrease in wages or loss of employment.

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Food and Beverage Industry

The James Beard Foundation is a nonprofit organization whose mission is to celebrate, nurture, and honor chefs and other leaders making America’s food culture more delicious, diverse, and sustainable for everyone. The James Beard Foundation Food and Beverage Industry Relief Fund will provide critical financial assistance to small, independent restaurants that, due to the COVID-19 national disaster, have an immediate need for funds to pay set operating expenses and keep from going out of business. Approved applicants, whether an independent restaurant or restaurant group, will receive a one-time grant of $15,000.

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*Note: Currently suspended due to overwhelming application submissions, but may open back up.
 

Startup Relief Fund

Lurn, a digital learning resource for entrepreneurs, is raising funds for their second round of COVID-19 emergency relief grants. Eligible applicants from the entrepreneurship community may have an existing business being impacted by COVID-19 or may be studying Entrepreneurship (currently having a full time job). The purpose is to provide urgent, short-term support to community members who require money for groceries, gas, medications, transportation and other necessities due to losing their income or job as a result of the coronavirus. To date, The Startup Relief Fund has given out a total of $53,121 to 244 recipients.

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*Note: First round of applications is closed due to overwhelming submissions, but a second round will open in April.
 

Female Entrepreneurs

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.

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*Note: Currently suspended due to overwhelming application submissions, but may open back up.
 

MailChimp

MailChimp, a mass email distribution company, is offering $10 million worth of service for existing customers who want to continue using Mailchimp’s platform but need some financial support during this period. Current customers who have 25 or fewer employees in categories including restaurants and hospitality; brick and mortar retail; travel and leisure; entertainment; health, beauty, and wellness; and other select Main Street businesses are eligible for up to three months of free Mailchimp service. Mailchimp is offering this in addition to the three months of free Standard service that has been granted to nonprofit and public service organizations responding to the COVID-19 crisis.

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Banks

An A to Z list of how all American banks are aiding their customers during this time.

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Note: Have a resource addition that should be listed her? Let us know by emailing solutions@alloysilverstein.com.
 
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