SUPPORT FROM GOVERNMENTAL ENTITIES
- Provides 100% federally guaranteed loans to small businesses. These PPP loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.
- The Small Business Administration is providing low-interest disaster loans to help businesses and homeowners recover from declared disasters.
- The Small Business Administration was providing advances of up to $10,000 to small businesses that do not have to be repaid. It is currently suspended but may be given more funding by Congress in the near-term.
SUPPORT FROM INDUSTRY
- Will soon be offering $10,000 grants to small businesses
- Giving $100M in cash grants of varying amounts and ad credits to small businesses
- Offering grants up to $10,000 to small businesses.
Primarily for minority/female-owned businesses:
- Providing grants of up to $10,000 for all businesses but “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.”
- 0% loans up to $15,000 for entrepreneurs
- Community-sourced loans