As a small business or nonprofit, cash flow is of the utmost importance. We have found a few avenues that might be able to assist in trying to maintain your operations. Below are just a few options you may want to consider, including state-level programs, Facebook grants, ad credits and Small Business Administration loans:
Small Business Emergency Bridge Loan or Relief Programs by State:
- While each state works tirelessly to come up with their action plans for their residents and businesses, we will work in tandem to compile the important and pertinent information as it becomes available.
- Keep an eye out for our COVID-19 updates via email and blog to stay on top of the latest information.
Facebook announces $100M in grants to small businesses:
- Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries. Facebook will share more details as they become available.
U.S. Small Business Administration: Economic Injury Disaster Loans & SBA Express Bridge Loans:
- Relief for small businesses and most private nonprofit organizations.
- EIDLs provide the necessary working capital to help small businesses survive until normal operations resume after a disaster.
- The SBA can provide up to $2M to help meet financial obligations and operating expenses that could have been met had the disaster not occurred. Your loan amount will be based on your actual economic injury and your company’s financial needs, regardless of whether the business suffered any property damage.
- SBA Express Bridge Loans allow small businesses who currently have a relationship with an SBA Express Lender to access up to $25K with less paperwork. If a small business has an urgent need for cash while waiting for a decision and disbursement of an EIDL, they may qualify for an EDBL.
- SBA Lender Match Tool https://www.sba.gov/funding-programs/loans/lender-match
- Local SBA Office Finder Tool https://www.sba.gov/local-assistance/find/
Please note, due to increased traffic and program development some of these sites may be slow or down at times. We will be as vigilant as possible in keeping up with the status of these helpful tools and programs from the above agencies, businesses, and states.