It could be said that today businesses are going through some of the hardest times. No matter how big or small, every business around the globe has witnessed major revenue drop due to this pandemic. Two-thirds of the USA stands under stay-at-home orders. Main Street has not shut its doors completely, but has significantly cut down its hours.
During this turmoil, businesses that withstand highest damages are small businesses and SMEs. Today, most such businesses are laying-off people permanently or temporarily. It is hardest for small business owners to keep the payroll going.
In this situation, both the Federal Government of US and Local Governments have joined hands in helping small businesses and SMEs survive.
During this situation of havoc and panic, a number of private and non-profit organizations are launching relief funds. These funds are specially designated to SMEs and small businesses to help them through COVID-19. Below is a list of such organisations offering emergency relief fundings in form of grants or loans:
Facebook:
Facebook announced a $100 million grant for small businesses and SMEs affected by the pandemic. Moreover, Facebook also launched a special Business Resources Hub which helps businesses to stay connected to customers with help of recommendations. For more information, visit the links below:
Grants: https://www.facebook.com/business/boost/grants?ref=alias
Business Resources Hub: https://www.facebook.com/business/boost/resource?ref=alias
Amazon:
Recently Amazon launched a $5 million Neighborhood Small Business relief Fund. The fund will provide cash grants to small businesses of Seattle. Moreover, Amazon has also paused repayments to Amazon Lending from March 26 to April 30. To know more, click on the link below:
Google:
In total, Google has announced $800+ million relief funds to support small- and medium-sized businesses, SMEs, health organizations, governments and more. In this, google has earmarked funds for small business owners. For complete information, click on the link given below:
JPMorgan:
JPMorgan has launched a relief fund of $50 million to help struggling businesses and customers during this pandemic. The firm has released a special $8 milion aid fund for small businesses. To know more about this, click on the link below:
MainVest:
The crowd-funding platform has launched a relief program. Under this affected small businesses can receive a $2,000 zero-interest loan immediately. Further, through your capital raise, you can receive over $100,000 of investment from your community. For more information, click on the link below:
https://mainvest.com/main-street-initiative
Yelp:
Recently, the CEO, Jeremy Stoppelman announced that the company will be launching a $25 millions as coronavirus relief fund for independent restaurants and other businesses. The fund will be provided in the form of waived advertising fees and free advertising.
Kiva:
The company is providing loans for up to $15,000 at 0% interest rate to small businesses hit by the coronavirus pandemic. To get in-depth information on the same, click on the link given below:
he company is providing loans for up to $15,000 at 0% interest rate to small businesses hit by the coronavirus pandemic. To get in-depth information on the same, click on the link given below:
https://www.kiva.org/blog/support-local-businesses-during-the-coronavirus-pandemic
While organizations and governments are trying their best to control this situation, it is our responsibility as citizens to abide by the guidelines declared by the government. We hope that the above provided list brings you help. We will update the list as new sources are added.
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