COVID-19 Financial Resources
Facebook Small Business Grants Program
Up to 30,000 eligible small businesses in more than 30 countries where Facebook operates will be able to receive the grant. To be eligible to apply, your business must:
Be a For Profit
Have between 2 and 50 employees
Have been in business for over a year
Have experienced challenges from COVID-19
Be in or near a location where Facebook operates
LISC | Verizon Small Business Recovery Fund
Thanks to a $2.5 million investment from Verizon, LISC is offering grants to help small businesses fill urgent financial gaps until they can resume normal operations or until other more permanent financing becomes available. employees in low- and moderate-income areas of the city that have been severely impacted by COVID-19 and could most benefit from a grant.
Paycheck Protection Program (PPP)
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. Click below to see a list of lenders offering PPP Loans in Illinois.
EIDL Loan Advance
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application. This loan advance will not have to be repaid.
The Red Backpack Fund
he 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.
Hello Alice Business Grants for All
This program will distribute $5,000 grants to up to 1,000 businesses with four or fewer employees in low- and moderate-Business owners may apply for grants of up to $50,000 to support business growth, including $10,000 emergency COVID-19.
Yelp & GoFundMe Small Business Relief Fund
The Yelp Foundation and GoFundMe have pledged to match up to $1 million in total donations from matching grants made possible by the Small Business Relief Fund. The Fund is managed by GoFundme.org and will make a $500 matching grant for the first 2,000 eligible businesses that claim or otherwise start their fundraising page on GoFundMe and raise $500.