Many small business owners are well aware of the COVID-19 federal aid programs, collectively known as the CARES Act. This program has been a step in the right direction for small businesses struggling as a result of lockdown measures implemented across the Bay Area. Unfortunately however, this program quickly ran out of funding (and with additional federal funding likely). These programs have had mixed degree of success for small business applicants.
At Sunbelt, we would like small business owners to take advantage of every opportunity available for grants at this challenging time. To that end, several corporate donors have implemented private grant programs, which Bay Area small business owners may apply for.
The Save Small Business Fund
The U.S. Chamber of Commerce, (with Vistaprint, Merck, and others) have created The Save Small Business Fund to address owners’ immediate needs from closures, job losses, and more. Applications for the fund open April 20. The fund hopes to distribute at least 200 grants per week for an undetermined amount of time. Ricky Engelberg, Vistaprint’s chief marketing officer, said: ““We automatically think about the shops on Main Street, but we can’t forget about the daycare centers, bakeries, dentist offices—all of which might also have been impacted by COVID-19.”
- 3 to 20 employees
- Located in an economically vulnerable community. The fund will use the Distressed Communities Indexto identify small businesses based in zip codes that are most vulnerable
- Impacted by the COVID-19 crisis
Hello Alice COVID-19 Business for All Emergency Grant
Hello Alice, along with Verizon, Silicon Valley Bank, eBay and more, is offering $10,000 grants to small businesses impacted by the coronavirus pandemic. The company has also set up a COVID-19 Business Resource Center, which offers additional financial resources.
Verizon Small Business Recovery Fund
Verizon is offering grants to small businesses during this time of financial need. While the initial application period is closed, another round will begin in mid-April. For more details, click here.
Facebook Small Business Grants Program
Facebook is providing $100 million in cash grants and credits to small businesses affected by Covid-19. Facebook will provide grants to as many as 30,000 small businesses in more than 30 countries where the company operates, including the Bay Area. Small business owners who apply must be for-profit, have between two and 50 employees and have been in business for 1 year or more. They must have experienced COVID-19 related challenges and be in (or near) a location where Facebook operates. The San Francisco Bay area opened on April 20.
Salesforce Care Small Business Grants
Salesforce is providing $10,000 grants to small businesses affected by COVID-19. These grants are intended to support small businesses working to fund supplies, pay salaries, and more. To learn more about this program, visit Salesforce Care for Small Business.
In addition to the programs listed above, The Silicon Valley Business Journal has provided links to several other programs, including funding sources from Nonprofits.
If we can assist in any way, please reach out to us.
Jordan Zweigoron is a Senior Advisor with Sunbelt Business Brokers. He can be reached at (408) 436-1900, x105, or at [email protected]. Or connect with Jordan on LinkedIn.