Coronavirus financial aid programs

Coronavirus (COVID-19) Financial Assistance Programs

If your small business is in trouble, you’ve lost your job, or you’re struggling to pay the mortgage, there are coronavirus financial assistance resources that could help. The following is a comprehensive list of federal, state and private coronavirus financial assistance programs designed to help you during these challenging times.

We also provide a guide on how to obtain coronavirus financial assistance when you own a business. You’ll find resources for businesses and entrepreneurs to help you get short term lending or financial relief, including SBA loans.

Federal government coronavirus financial assistance

The government rolled out a variety of coronavirus financial assistance programs in response to income loss due to COVID-19. Much of that assistance appears in the S.3548 – CARES Act passed in March. The sweeping bill provides assistance for individuals and businesses impacted by the coronavirus pandemic.

Stimulus checks

Eligible taxpayers who filed returns for 2019 or 2018 received an automatic one-time payment. The payment was $1,200 for individuals or $2,400 for married couples and up to $500 for each qualifying child. This applied to individuals who make $75,000 individually or less and $150,000 or less per couple. The amount received dropped by $5 for each $100 above these cutoffs. Those with income exceeding $99,000 for single filers and $198,000 for joint filers aren’t eligible. Check your payment status here.

Coronavirus financial assistance for individuals

At the beginning of March, the Board of Governors of the Federal Reserve encouraged financial institutions to provide relief where possible to customers affected by the coronavirus. What resulted is a wide variety of companies providing assistance to individuals.

Unemployment assistance

In most states, if you lose your job, you’re eligible for up to 26 weeks of unemployment benefits. In certain instances, people who exhaust their state unemployment before they get a job can get Pandemic Unemployment Assistance of 13 extra weeks of federally funded extended benefits.

Check out this map to see how many weeks of unemployment assistance your state provides.

Mortgage assistance

The CARES ACT provides mortgage relief options. You have protection against foreclosure for 60 days after March 18, 2020, should you find it difficult to make your mortgage payments. You can also request a forbearance (delay in payment) for up to 180 days. [source]

Beyond the scheduled amounts, there won’t be any additional fees, interest or penalties added to your mortgage. You need only indicate on your claim that you are experiencing a pandemic-related financial hardship. You must contact your mortgage company to obtain a forbearance.

Additionally, if your loan is with Freddie Mac or Fannie Mae, you can delay payment for up to 12 months.

Mortgage, vehicle and credit card relief assistance

Major bankers carrying mortgages, vehicle loans, and credit cards are offering coronavirus financial hardship programs. Most banks require that you inquire regarding financial aid. Check out major bank coronavirus policies and available discounts.

BankRelief Options
Bank of AmericaRequest payment deferral for credit card, vehicle or home loan payments.
BarclaysRequest payment relief by logging into your account.
ChaseProviding payment assistance for mortgages, home equity lines of credit, credit cards, and car loans and leases.
CITIIn addition to mortgage forbearance, CITI is offering credit card forbearance. For personal loans and credit cards, the company will waive minimum payment due requirements and late fees for two statement cycles. There are also fee waivers on safe deposit box fees, monthly service fees, and penalties for an early certificate of deposit withdrawals.
Huntington BankMortgage forbearance. Ninety-day payment deferral on consumer loans and no catchup payments at the end of the deferral.
Key BankMortgage forbearance. Waived late fees and penalties on credit cards, loans, lines of credit. Some service charges also waived.
TD BankMortgage forbearance. Deferred payments for auto loans, personal loans, home equity loan or lines of credit. Waiving of late fees for credit card and personal loans, as well as home equity loans and lines of credit.
TruistMortgage forbearance. Deferred payments on personal loans, auto loans, credit cards, and home equity lines of credit.
US BankMortgage forbearance. Deferred payments, extensions and alternate options for Auto, RV, and boat loans. Temporary reduction on APR for personal and business loans. Zero % APR for credit card purchases and balance transfers for 20 billing cycles.
Wells FargoMortgage forbearance, as well as the suspension of auto repossessions. Also offered on a case-by-case basis are fee waivers and payment deferrals for credit cards, auto loans and personal and business loans.

List of additional banks offering coronavirus financial assistance is here.

Insurance companies offering coronavirus financial relief

Major insurance companies are offering varying forms of relief at this time. Some are policy credits, while other forms of financial aid include discounts. See what type of financial assistance you’ll get with your insurance company.

Insurance CompanyRelief Offered
Allstate15% money back on April and May premiums; delayed payments
Farmers Insurance25% reduction in auto insurance premiums in April
Geico15% off policy term for a 6-month policy
Liberty Mutual & Safeco15% refund on two months of auto premiums
Mercury Insurance15% money back on two months of auto premiums
Nationwide$50 refund per policy
Progressive20% credit on April premium; waiving late fees and hold off on canceling
State Farm25% policy credit
USAA20% credit on two months of premiums

Student loan financial assistance

If you have a federal student loan, during the COVID-19 pandemic your student loan will automatically be placed in administrative forbearance. That means you can temporarily stop making payments to your monthly loan with no late charges or dings to your credit. The suspension is currently set to last until September 30, 2020.

It’s important to note that this does not apply to private student loans. Check with your private student loan lender regarding any coronavirus hardship programs.

Businesses offering help to workers during coronavirus crisis

These challenging times have moved many businesses to step up and show support to first responders.

Business/InstitutionRelief Offered
Local gas stations$0.50 off per gallon nurses, doctors, and first responders
State of CaliforniaHotel room discounts for healthcare workers
Krispy KremeDonuts for healthcare workers
StarbucksFree coffee to front-line workers
CrocsFree pair while supplies last
Uber HealthFree rides for healthcare workers to patients’ homes
AirbnbFree or subsidized housing for healthcare workers
LoomFree Loom Pro for students and teachers
GoogleHangouts Meet is available to all G-suite customers
AdobeTeachers and students  get free access to Creative Cloud apps
LabsterFree access to virtual lab resources to colleges and universities around the world
Love Your MelonFree masks to children’s hospitals and care facilities
OneDineFree Tap & Pay Touchless Payment systems to restaurants
MicrosoftSix months of free access to Microsoft Office 365 and Microsoft Teams
Amazon$5 Amazon gift card when you donate blood or plasma.
Signs.comFree Printable Templates for Coronavirus Signage
Children’s Home Society of Cal
ifornia (CHS)
Subsidized childcare services for essential workers
SeneFree disposable masks for hospitals
Equifax, Experian, and TransUnionFree weekly online credit reports

Phone and internet providers offering relief options

To keep people connected during social distancing, the following internet and phone providers are offering free services for eligible customers. Some companies are also waiving late fees and not terminating service for nonpayment.

ProviderRelief Available
Atlantic BroadbandWill not discontinue service for nonpayment; waiving late fees
AT&TWill not discontinue service for nonpayment; waiving late fees; no broadband caps
Charter CommunicationsFree Spectrum broadband and Wi-Fi access for 60 days to households with K-12 and/or college students who don’t have a subscription. The installation fees have been waived.
ComcastOffering free service for 60 days to low-income households. Increased speed for all customers.
Cox CommunicationsLow-income internet with no annual contract. Relaxing data usage overage charges for all tiers.
MediacomQualifying families receive 60 days free. Pausing monthly data allowances. Complimentary access to hotspots.
Sparklight (for business)Waiving late fees for 60 days.
T-MobileFree international calling for all T‑Mobile and Metro by T‑Mobile customers to landline (and in many cases mobile) numbers in many countries
VerizonWill not charge late fees or discontinue service until May 13.

Small business coronavirus financial assistance  programs

The federal government offers various programs through the Small Business Association to provide coronavirus financial help. To keep your business afloat, you may need a small business loan.

  • Paycheck protection program: This program, administered by the SBA, provides forgivable loans of up to $10 million to companies with less than 500 employees. Its purpose is to keep employees on the payroll. Use the loan to cover other expenses, including rent, utilities, and mortgage interest.
  • Economic injury disaster loans (EIDL): Another program from the SBA, this provides loans of up to $2 million to businesses with less than 500 employees. The loan is for up to a 30 year-term. A $10,000 advance doesn’t need to be repaid.
  • SBA express bridge loans: Loans administered by the SBA to businesses that already have or had SBA loans. Allows for quick access of up to $25,000.
  • SBA Debt Relief: The SBA will for six months pay principal, interest and fees on current qualified loans and new qualified loans issued before Sept. 27, 2020. This program also provides automatic deferment through the end of the year on any currently serviced disaster loans.

States offering SBA loans and Financial Aid

The Small Business Association (SBA) works with lenders in states throughout the country to provide small business owners with the necessary funding. The agency doesn’t lend money to business owners. The SBA’s function is to act as a partner with lenders throughout the country. Check out this chart to see what your state offers in the way of SBA loans and other types of financial aid.

StateProgramProgram Description
AlabamaWaiver for State Sales Tax Late Payment PenaltiesAlabama’s Department of Revenue is waiving late fees for sales tax through June 1, 2020 for small retail and hospitality businesses.
AlabamaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
AlabamaWest Alabama Small Business Relief FundThis Community Foundation of West Alabama fund offered in cooperation with the Chamber of Commerce of West Alabama is offering grants to businesses with 2-50 employees that have experienced financial hardship due to COVID-19.
AlabamaTruist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
AlabamaCentral Alabama Community COVID-19 United Relief FundThe Community COVID-19 United Relief Fund will focus on 501(c)3 nonprofit organizations supporting basic needs and/or health and wellness efforts related to the COVID-19 emergency and its aftermath.
AlabamaWaiver of Employer Charges for COVID-19 Related ClaimsAll charges will be waived against those employers who file partial unemployment compensation claims on behalf of their employees for weeks filed due to COVID-19 related issues.
AlabamaThe #BHAMSTRONG Small Business Loan FundBirmingham Business Resource Center is offering loans worth up to $25,000. For-profit businesses with less than 50 employees located within the Birmingham city limits that have been operating for at least one year are eligible to apply. NOTE: Applications are currently closed.
AlaskaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
ArizonaWaFD Small Business Credit LineRegional bank is offering a 5-year credit line with the first 90 days interest free to businesses who have experiened a 10% drop in revenue. Credit lines can be up to $200,000.
ArizonaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
ArizonaLocal First Arizona Small Business Relief FundLocal First Arizona is offering micro-grants to very small businesses facing the impact of COVID-19. Businesses must have 0-3 employees and less than $250,000 in annual revenue. Priority will be placed on business owners with children under 18 at home and families reliant on the business as their sole income.
ArizonaArizona COVID-19 Community Response FundArizona Community Foundation is providing immediate and long-term relief grants to nonprofits. Funds will be released on a rolling basis.
ArizonaBusiness Loan DeferralsMost banks in Arizona have adopted a payment deferral program for business loans under guidance from banking regulatory agencies, and many banks are working directly with consumers on payment deferrals for certain consumer loans.
ArkansasBridge LoansThe governor of Arkansas has announced funding for midsize companies and nonprofits in the state to continue operation.
ArkansasSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
ArkansasTruist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
ArkansasGrants for COVID-19 ResponseMini-grants of $1,000 are being provided by Arkansas Community Foundation to nonprofits for general operating support.
ArkansasQuick Action Loan ProgramThe state is offering eligible companies may apply for a loan or loan guaranty of up to $250,000. Priority is given to small to medium-sized companies that are in the supply chain of essential goods and services (including healthcare, food manufacturing, logistics).
ArkansasWFA’s Assistance Fund for Women Owned Small Businesses$5,000 in grants are available to Arkansas-based small businesses that are 100% women owned. The business must be suffering economic hardship due to COVID-19. NOTE: Applications due by April 13, 2020.
CaliforniaSan Francisco Small Business Resiliency ProgramSan Francisco businesses with 1-5 employees can apply for $10,000 for employee salaries and rent if they can demonstrate a loss of at least 25% in revenue.
CaliforniaLos Angeles Small Business Emergency MicroloansBusinesses located in LA impacted by the coronavirus outbreak can apply for low-interest loans between $5,000 and $20,000. Repayment can range from 6 months to 5 years. Interest rates can be as low as 0% for 6-month terms.
CaliforniaIBank Disaster Relief Loan GuaranteeThe California IBank is offer 95% gaurantees on loans worth up to $1 million to small businesses in declared disaster areas.
CaliforniaSacramento Small Business Economic Emergency Relief LoanA $1 million fund for businesses to borrow up to $25,000 if they were impacted by the coronavirus outbreak. (NOTE: Fund is currently exhausted and not taking new applications. Businesses should check back if additional funding becomes available.)
CaliforniaSouth County No-Interest Loans for Local RestaurantsSouth County is providing 0% interest loans of $5,000 to local restaurants impacted by the coronavirus outbreak.
CaliforniaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
CaliforniaSan Diego Small Business Relief FundThe city of San Diego is providing low- to zero-interest loans and grants that range from $10,000 to $20,000 to businesses with fewer than 100 employees. They will be allocated to eligible, qualified small businesses based on the availability of funds.
CaliforniaWomen’s Economic Venture’s Quick Response LoansWomen’s Economic Venture’s is offering local small businesses impacted by COVID-19 up to $10,000 in hardship loans with 4.5% interest rates and 36-month term. First payment is deferred for three months.
CaliforniaEmployer Assistance Grant FundLos Angeles County will provide local small businesses with 2 to 50 employees that have been impacted by the coronavirus pandemic with grants up $10,000. Applications are limited to 150 and offered on a first come, first serve basis. Applications open on April 8, 2020.
CaliforniaStanislaus County Bridge FundingThe Stanislaus County Department of Workforce Development will issue $1 million in micro-grants to local businesses with up to 50 employees that have experienced financial hardship due to the COVID-19 pandemic.
CaliforniaCOVID-19 Layoff Aversion FundThe Workforce Development Board (WDB) of Solano County is issuing grants to help businesses with fewer than 500 employees in the county to avoid layoffs. Applicants must demonstrate a need for layoff aversion support due to the impacts of COVID-19.
CaliforniaBerkeley Business Continuity GrantsThe City of Berkeley is making grants of up to $10,000 available to Berkeley-based small businesses and nonprofits to enable continuity through and/or beyond the COVID-19 pandemic. Funds must be used to cover payroll, rent, or working capital for the business to cover operational expenses.
CaliforniaSVCF Small Business Relief FundThe Silicon Valley Community Foundation will provide immediate support to struggling self-employed and small business owners. The loans and grants can come in the form of loan payment relief and affordable capital.
CaliforniaPoway Emergency Assistance Recovery LoansThe city of Poway has approved emergency loans for local small businesses impacted by COVID-19. Loans can range from $5,000 to $50,000. Businesses must be independently owned and operated in the City of Poway, with no more than 50 full-time employees at the time the city declared an emergency on March 18. The city anticipates opening the application process on Thursday, April 23.
ColoradoDenver Small Business Emergency ReliefThe city of Denver plans to issue grants to at least some businesses impacted by the coronavirus outbreak. There are not many details but the website for the program provides a form for small businesses to submit to get connected to resources.
ColoradoDenver Microloan ProgramThe city of Denver plans to provide microloans to impacted businesses in the city. Loans will be between $5,000 and $50,000.
ColoradoSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
ColoradoMesa County COVID-19 Responder LoanThe Business Loan Fund (BLF) of Mesa County is a lending program operated by the Western Colorado Business Development Corporation (The Business Incubator Center) offering low-interest loans funds for working capital, equipment, and/or inventory to be used to directly support companies responding to the COVID-19 crisis. Businesses and nonprofits are both eligible.
ColoradoBoulder Chamber COVID-19 Small Business Relief FundThe Boulder Chamber of Commerce is proving grants up to $25,000 to locally impacted small businesses. Businesses must have 2 – 50 employees, with principal place of business in the City of Boulder.
ColoradoArvada Loan FundBeginning April 13, small businesses can apply for a no-interest loan up to $10,000. If a business pays back 75% of the loan in 2021, the remaining 25% will be forgiven.
ColoradoSmall Business Emergency Relief Grant ProgramThe town of Superior is offering a grant program will provide either a $5,000 or $10,000 grant to immediately offset some of the economic impact due to the pandemic. The Town is accepting applications from small businesses and restaurants with a brick-and-mortar presence in the community.
ConnecticutConnecticut Bridge Loans ProgramConnecticut is making one-year bridge loans up to $75,000 with 0% interest to businesses with 100 or fewer employees that have been harmed by COVID-19 and can demonstrate they were profitable prior to the outbreak. Businesses involved with real estate, multi-level marketing, adult entertainment, cannabis, and firearms are ineligible.
ConnecticutSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
DelawareH.E.L.P. No-Interest LoansDelaware announced no-interest loans up to $10,000 for hospitality businesses that earn less than $1.5 million a year and have been impacted by the coronavirus outbreak. The loans have a 10-year term and payments can be deferred for the first nine months. Local businesses can contact the program to determine eligibility by emailing business@delaware.gov or calling 302-739-4271 with additional questions.
DelawareSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
DelawareDelaware COVID-19 Strategic Response FundUp to $50,000 in grants for non-profits with deep roots in the community and a strong track record of serving people whole are immediately and disproportionately suffering from the crisis are available.
District of Columbia (DC)DC Small Business Recovery MicrograntsWashington, D.C. has created a $25 million fund for microgrants for small businesses and nonprofits within the district impacted by COVID-19.
District of Columbia (DC)Truist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
FloridaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
FloridaFlorida Small Business Emergency Bridge LoanFlorida is offering up to $50,000 per loan interest free to small businesses with 2-100 workers if they’ve been negatively impacted by COVID-19. The loans are intended to be short-term until the business can secure other financing, including SBA loans.
FloridaTruist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
FloridaFighting Chance FundThe city of St. Petersburg is offering up to $5,000 in grants to small businesses located in the city with 25 or fewer employees that have been negatively impacted by the COVID-19 pandemic.
GeorgiaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
GeorgiaTruist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
GeorgiaSmall Business Continuity Loan FundThe City of Atlanta has approved $1.5 million in continuity funding for small businesses. NOTE: The fund is currently closed to new applications, but is accepting inquiries.
GeorgiaFulton County Emergency LoanBusinesses suffering from interruption of normal business activity due to COVID-19 in Fulton County (excluding those in Atlanta) can apply for up to $50,000 at 4% interest with the first three months deferred. NOTE: New applications are currently suspended.
HawaiiSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
IdahoWaFD Small Business Credit LineRegional bank is offering a 5-year credit line with the first 90 days interest free to businesses who have experiened a 10% drop in revenue. Credit lines can be up to $200,000.
IdahoSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
IllinoisChicago Small Business Resiliency FundChicago small businesses (defined as earning less than $3 million a year and fewer than 50 employees) can apply for up to $50,000 low-interest loans if they’ve experienced at least a 25% drop in revenue due to the coronavirus outbreak.
IllinoisSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
IllinoisUniversity of Chicago South Side Small Business SupportThe University has dedicated $1 million in funding to provide short-term grants up to $7,500 for businesses impacted by the coronavirus outbreak on Chicago’s South Side. Eligibility requirements will be posted March 30.
IllinoisIllinois Small Business Emergency Loan FundThe Illinois Illinois Department of Commerce and Department of Financial and Professional Regulation will offer small businesses low interest loans of up to $50,000 outside the City of Chicago. To apply businesses must have fewer than 50 workers and less than $3 million in revenue in 2019. Successful applicants will owe nothing for six months and will then begin making fixed payments at a below market interest rate for the remainder of a five-year loan term.
IllinoisHospitality Emergency Grant ProgramThe state’s Department of Commerce is offering grant funds to support shifts in operations, like increased pick-up and delivery. Bars and restaurants that generated between $500K and $1M in revenue in 2019 are eligible for up to $25,000, and bars and restaurants that generated less than $500K in revenue in 2019 are eligible for up to $10,000. Hotels that generated less than $8M in revenue in 2019 are eligible for up to $50,000.
IllinoisDownstate Small Business Stabilization ProgramSmall businesses of up to 50 employees the opportunity to partner with their local governments to obtain grants of up to $25,000 in working capital. These grants will be offered on a rolling basis.
IndianaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
IndianaRapid Response Loan FundIndy Chamber’s Business Ownership Initiative (BOI) is offering bridge loans worth between $1,000 and $25,000 at 3.75% interest for local businesses impacted by COVID-19. These are intended to provide funds until SBA coronavirus relief loans are secured by the borrower.
IndianaCOVID-19 Emergency SMALL BUSINESS Forgivable LOAN ProgramBusinesses located within the counties of Clark and Floyd, Indiana are eligible for forgivable loans if they’re under 50 employees, have been in business for at least two years, and received previous bank financing. Loans can range from $2,500 to $10,000 and forgivable if the business operates through December 2021.
IowaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
IowaSmall Business Relief GrantsThe state of Iowa is offering grants between $5,000 and $25,000 to small businesses experiencing a disruption due to COVID-19 and have 2-25 employees. Grant size is determine by losses and number of employees. The state is also offering deferrals on taxes and waivers for penalties and interest.
KansasHospitality Industry Relief Emergency (HIRE) FundThe state of Kansas will up to $20,000 in short-term zero-interest loans to impacted hospitality businesses with fewer than 100 employees. Loan desicions will be made in 72 hours after an application is received and approved loans will be paid out within 48 hours.
KansasSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
KentuckySBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
KentuckyTruist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
LouisianaNew Orleans Business Alliance Gig Economy FundThe New Orleans Business Alliance from $500 to $1,000 to musicians, drivers, and other gig workers affected by COVID-19. Applicants must be an Orleans Parish resident.
LouisianaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
LouisianaLouisiana Loan Portfolio Guaranty ProgramLouisiana Economic Development will offer loans up to $100,000, with interest rates of no more than 3.5%, and no payments for at least 180 days. The loan term can be up to five years for and is for businesses with fewer than 100 employees that have been impacted by the coronavirus pandemic.
MaineFAME Bridge and Direct LoansThe Finance Authority of Maine is offering direct loans of up to $50,000 with special terms available to Maine-based businesses experiencing interruption or hardship due to COVID-19. It’s also providing loans of up to $100,000 with special terms available to eligible borrowers who provide proof of commitment for SBA financing. The FAME loan would be originated for use to the business owner until the SBA loan is funded. The SBA loan would then pay-off the FAME loan.
MaineFAME Lender BackingThe Finance Authority of Maine will back 50-75% of loans from commercial lenders who make loans to Maine businesses experiencing interruption or hardship due to COVID-19.
MaineSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
MarylandSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
MarylandMaryland Small Business COVID-19 Emergency Relief Loan FundMaryland is offering loans up to $50,000 with 0% interest for the first year and then 2% interest for the remaining 36 months for impacted businesses with fewer than 50 employees.
MarylandMaryland Small Business COVID-19 Emergency Relief Grant FundThe state is offering grants up to $10,000 both small businesses and nonprofits with fewer than 50 employees that have been negatively impacted by the coronavirus outbreak.
MarylandMaryland COVID-19 Emergency Relief Manufacturing FundThe state has put in place a program with up to $5 million in incentives for manufacturers to produce personal protective equipment (PPE) that is urgently needed by hospitals and health-care workers across the country.
MarylandCOVID-19 Layoff Aversion FundThe state of Maryland has dedicated a $7 million fund to help prevent layoffs among businesses in the state. Businesses can get up to $50,000 to help fund initiatives to prevent layoffs, such purchasing equipment to enable remote work, funding liability insurance for restaurants converting to delivery, and more.
MarylandTruist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
Massachusetts2020 Small Business Recovery Loan Fund.The state is providing emergency capital of up to $75,000 for businesses with fewer than 50 full-time and part-time employees. It’s also available to nonprofits. Payments are deferred for the first six months.
MassachusettsSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
MassachusettsBoston Resiliency FundThe city fo Boston has raised $25 million in funding to provide to nonprofit organizations who provide immediate support and relief to residents of Boston across a spectrum of different needs and priorities.
MassachusettsCambridge COVID-19 Emergency FundThe city of Cambridge is offering one-time grants ranging from $200 to $1,000 will be made available on a rolling basis until funds are depleted. Applicants must be Cambridge residents – or people whose main source of income emanates from Cambridge – Cambridge organizations with 501c3 status, or small businesses in our community with demonstrated loss of opportunity or income.
MichiganMichigan Small Business Relief GrantsMichigan is offering grants up to $10,000 to support certain small businesses (fewer than 50 employees) statewide that have realized a significant financial hardship as a result of the COVID-19 outbreak. Grants may be used for working capital to support payroll expenses, rent, mortgage payments, utility expenses, or other similar expenses that occur in the ordinary course of business.
MichiganMichigan Small Business Relief LoansMichigan is offering loans with .25% interest rates for certain small business loans that have realized a significant financial hardship as a result of the COVID-19 outbreak. Loans to eligible borrowers must be $50,000 or more and are capped at $200,000.
MichiganSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
MichiganSmall Business Relief Loan FundWayne County and TCF have created a joint fund to provide low-interest loans to businesses in the county hurt by the COVID-19 pandemic. Businesses with fewer than 100 employees or $1 million or less in annual revenue that have experienced a 25% or greater disruption in revenue and are located in a low-income area are eligible to apply. Loans can range from $5,000 to $50,000 with interest rates 2% or less.
MichiganCOVID-19 Grant Relief Fund for Detroit Small BusinessesBusinesses with fewer than 50 employees and less than $1 million in net annual income that have seen a loss due to the coronavirus pandemic can apply for grants worth $2,500 and $10,000 through the Michigan Economic Development Corporation.
MichiganAnn Arbor Area Community Foundation’s Short-Term Cash Flow Loan ProgramShort-term loans of of $5,000 – $50,000 to local nonprofits are available on a rolling basis. Loans are interest-free. Loans can be used to meet cash flow needs of the organization for a period of up to 180 days.
MichiganUrgent Needs FundGrand Traverse Regional Community Foundation is providing grants of $5,000 to $15,000 to nonprofits in the region. Funding will generally be available to be disbursed mid-month or at month-end.
MichiganEmergency Response and Recovery GrantBerrien Community Foundation and United Way of Southwest Michigan are offering emergency grants that focus on programs doing emergency relief. Applicants are asked to look at their ability to serve over the next 2-4 weeks and describe any needs/gaps in service that they anticipate having in that time frame.
MichiganDetroit Small Business Stabilization FundTechTown will administer working capital grants in amounts of up to $5,000 to qualifying small businesses impacted by the coronavirus pandemic.
MinnesotaOtto Bremer Trust Community Benefit Financial Company Emergency FundThe Otto Bremer Trust has set up a $50 million fund for nonprofits and community organizations Minnesota, Wisconsin, North Dakota, and Montana. The fund will provide resources in the form of short-term loans, lines of credit, and emergency grants.
MinnesotaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
MinnesotaSmall Business Emergency LoansThe state of Minnesota is offering zero-interest loans ranging from $2,500 to $35,000 and based on economic injury and the financial need to specific small businesses impacted by the COVID-19 pandemic.
MinnesotaMinneapolis Gap Funds for Small BusinessesMinneapolis is offering forgivable no-interest loans for small business will come in fixed amounts of $5,000 or $10,000, depending on need resulting from the COVID-19 emergency. Companies with 20 employees or less and people who are self-employed are eligible. Applications close April 20.
MississippiSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
MissouriSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
MissouriTruist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
MissouriCOVID-19 Response & Recovery FundCOVID-19 Response and Recovery Fund Grant Program will award grants on an ongoing basis to agencies across the Foundation’s 58-county service area of central and southern Missouri. Current grantmaking priorities are for programs that serve vulnerable populations affected by the COVID-19 outbreak.
MontanaOtto Bremer Trust Community Benefit Financial Company Emergency FundThe Otto Bremer Trust has set up a $50 million fund for nonprofits and community organizations Minnesota, Wisconsin, North Dakota, and Montana. The fund will provide resources in the form of short-term loans, lines of credit, and emergency grants.
MontanaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
NebraskaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
NevadaWaFD Small Business Credit LineRegional bank is offering a 5-year credit line with the first 90 days interest free to businesses who have experiened a 10% drop in revenue. Credit lines can be up to $200,000.
NevadaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
New HampshireEmergency Healthcare System FundThe governor of New Hampshire has declared an emergency $50 million fund that can be distributed through grants or loans for hospitals and “other healthcare providers.”
New HampshireEmergency Order #6The governor declared that restaurants, diners, bars, saloons, private clubs or any other establishment that have both a restaurant license and on premise license from the New Hampshire liquor commission can sell alcohol through take out or delivery through the crisis.
New HampshireSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
New JerseySBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
New JerseyTruist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
New JerseyNew Jersey Small Business Emergency Assistance Grant ProgramThe New Jersey Economic Development Authority (NJEDA) is offering up to $5,000 in grants to impacted businesses in specific industries with 1-10 full-time employees. The application window is from April 3-10, 2020.
New JerseyNJEDA Small Business Emergency Assistance LoanThe New Jersey Small Business Emergency Assistance Loan offers up to $100,000 in working capital to small businesses and nonprofits that have been in existence for at least one-year and has less than $5 million in annual revenue. These businesses must have been negatively impacted by the COVID-19 outbreak (including, but not limited to: reduction of business hours, complete closure of business, at least a 20% decline in revenue, employees unable to work, required to close by government, or disruption of supply chain).
New JerseyCDFI Emergency Assistance Grant Program and the CDFI Loan Loss Reserve FundNew Jersey Economic Development Authority (NJEDA) is offering up to $250,000 in grants and taking a first loss position on up to $10 million in loans granted to small businesses through NJ-based Community Development Finance Institutions (CDFIs).
New JerseyNew Jersey Economic Development Authority (NJEDA) Technical Assistance FundNew Jersey Economic Development Authority (NJEDA) has made available $150,000 for payments to four local organizations that help small businesses impacted by COVID-19 apply for assistance programs from the SBA. This includes, but is not limited to, preparing financial information, packaging application documentation, and completing and submitting the on-line or paper-based application.
New MexicoWaFD Small Business Credit LineRegional bank is offering a 5-year credit line with the first 90 days interest free to businesses who have experiened a 10% drop in revenue. Credit lines can be up to $200,000.
New MexicoNMEDD Guarantee ProgramThe New Mexico Economic Development Department is guaranteeing a portion of a loan or line of credit up to 80% of principal or $50,000 for small businesses seeking an emergency loan or line of credit.
New MexicoSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
New YorkNYC Small Business Continuity Loan FundNew York City has established a program for businesses with fewer than 100 employees who have seen sales decreases of 25% or more will be eligible for zero interest loans of up to $75,000 to help retain employees and ensure business continuity.
New YorkNYC Employee Retention Grant ProgramNew York City is offering small businesses with fewer than 5 employees a grant to cover 40% of payroll costs for two months to help retain employees. Grants are capped at $27,500.
New YorkSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
New YorkCOVID-19 Emergency Business Relief ProgramThe North Country Alliance is offering up to $25,000 in 5% interest loans to small businesses impacted by the coronavirus pandemic.
New YorkSyracuse Economic Development Corporation (SECDO) COVID-19 Emergency Relief ProgramThe Syracuse Economic Development Corporation (SEDCO) has created a dedicated $500,000 fund to provide zero-percent interest, 180-day emergency loans to small businesses in the City. NOTE: The department is no longer taking applications for this fund.
New YorkThe Ithaca Tompkins County COVID-19 Small Business Resilience Fund (SBRF)A fund to provide 0%-interest loans to approximately 75 local businesses began taking applications on April 15. The forgivable loans in the amount of up to $5,000 for working capital to micro-enterprises and small businesses in Ithaca and Tompkins County experiencing hardship related to the COVID-19 pandemic.
New YorkCOVID-19 Unity Response FundThe Community Foundation of Elmira-Corningand the Finger Lakes, Inc. is offering mini-grants up to $1,000 for local nonprofit organizations.
North CarolinaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
North CarolinaTruist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
North CarolinaOne Buncombe FundBusinesses physically and principally located in Buncombe County that have experienced at least 25% drop in revenue because of COVID-19 can access low-interest loans. Loans are up to $10,000 with no payment due for the first six months. Must have fewer than 50 full- and part-time employees and also agree to provide impact data.
North CarolinaNorth Carolina COVID-19 Rapid Recovery LoanNorth Carolina is offering up to $50,000 in bridge loans for business impacted by COVID-19 intending to secure loans from the SBA. Loan come with six months of no interest and no payments, followed by 48 months of principal and interest payments at 5.5% interest.
North CarolinaThe Davie County COVID-19 Response FundDavie County nonprofit organizations and agencies who provide a “safety net” for families in this very difficult economic situation may apply for grants up to $5,000.
North DakotaNorth Dakota Development Fund 30-Day Pause for PaymentsThe North Dakota Development Fund has suspended all payments for its loan programs for 30 days. This applies to interest and principal.
North DakotaOtto Bremer Trust Community Benefit Financial Company Emergency FundThe Otto Bremer Trust has set up a $50 million fund for nonprofits and community organizations Minnesota, Wisconsin, North Dakota, and Montana. The fund will provide resources in the form of short-term loans, lines of credit, and emergency grants.
North DakotaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
OhioSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
OhioTruist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
OhioAppalachian Growth Capital LoansAppalachian Growth Capital, LLC is overseeing a fund of loans for small businesses with fewer than 500 employees that have experienced disruption due to the COVID-19 outbreak. Loans can go up to $100,000.
OhioGreater Cleveland COVID-19 Rapid Response FundThe Greater Cleveland COVID-19 Rapid Response Fund is designed to complement the work of public health officials and expand local capacity to address all aspects of the outbreak as efficiently as possible. The Rapid Response Fund will provide grant awards on a rolling basis to nonprofit organizations.
OklahomaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
OklahomaTulsa Business Resilience and Recovery ProgramThe city of Tulsa is providing zero interest loans to provide funding to local small business owners and entrepreneurs affected by COVID-19. Business must have fewer than 50 full time equivalent employees, and at least 1 employee (owners and contract workers do not count toward your FTE total), at least a 25% reduction in revenue and have been operating a business for more than one year.
OregonWaFD Small Business Credit LineRegional bank is offering a 5-year credit line with the first 90 days interest free to businesses who have experiened a 10% drop in revenue. Credit lines can be up to $200,000.
OregonJade District-Old Town COVID-19 Small Business Response FundSmall businesses located in the Jade District or Old Town Chinatown of Portland can apply for financial assistance from a $190,000 fund. priority on Asian and Pacific Islander owned businesses. Priority is given to Asian and Pacific Islander owned businesses.
OregonSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
OregonBeaverton Emergency Business Assistance ProgramThe city of Beaverton is offering grants up to $2,500 for rent or mortgage expenses to small businesses impacted by COVID-19. Currently, the focus is on restaurants and bars. Businesses must be 50 people or fewer.
OregonHillsboro Small Business Emergency Relief ProgramThe city has committed $500,000 in grants for small businesses hurt by COVID-19. Preference is given to businesses with fewer than 10 employees, veterans and minorities.
OregonPortland Small Business Relief FundThe city of Portland has allocated funds to be distributed to small businesses hurt by the COVID-19 outbreak through its economic development arm, Prosper Portland. This includes grants up to $10,000 and zero-interest loans up to $50,000. Eligible businesses must have experienced at least a 25% revenue decline and be under 50 employees.
PennsylvaniaPennsylvania Small Business First FundPennsylvanis has created a $61 million fund to provide working capital loans of up to $100,000 directly to small businesses and hopefully nonprofits (those that employ 100 or fewer persons). The interest rate is currently 3%, however the PIDA board has the authority to adjust the interest rates and so it is possible the board will act to lower rates to as low as 0%. The program will be administered by the Pennsylvania Industrial Development Authority (PIDA).
PennsylvaniaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
PennsylvaniaCOVID-19 Working Capital Access Program (CWCA)The state has established a $60 million fund through the Pennsylvania Industrial Development Authority’s (PIDA) Small Business First Fund for businesses with fewer than 100 employees impacted by the coronavirus outbreak. Loans can go up to $100,000.
PennsylvaniaTruist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
PennsylvaniaPA Cares InitiativeFive regional banks signed on to the PA Cares initiative, which requires banks to commit to the following steps: Expansion of small and medium business loan availability; 90-day grace period for mortgages; 90-day grace period for other consumer loans such as auto loans; 90-day window for relief from fees and charges such as late, overdraft fees; foreclosure, eviction, or motor vehicle repossession moratorium for 60 days; and no adverse credit reporting for accessing relief on consumer loans.
PennsylvaniaMontcostrong Small Business Grant ProgramMontgomery County is providing $1 million in economic development funds to provide grants to eligible small businesses with no more than 50 employees. Individual grants will be as high as $25,000 and can be used for payroll, rent, utilities or debt.
PennsylvaniaEmergency Ag Assistance GrantsThe Giant Company is working with Team Pennsylvania to provide an emergency grant program to support farms, processors, and other small food businesses in Pennsylvania’s food supply chain impacted by the ongoing COVID-19 pandemic. Any small business of 250 employees or less involved in growing, making, or processing food within the Commonwealth of Pennsylvania. Maximum award amount of $15,000 per business. Applications close April 24, 2020.
Rhode IslandSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
South CarolinaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
South CarolinaTruist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
South CarolinaCOVID-19 Relief & Recovery FundCoastal Community Foundation of South Carolina is providing flexible relief funding to nonprofits disproportionately impacted by the COVID-19 pandemic and the economic consequences of this outbreak.
South DakotaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
TennesseeSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
TennesseeTruist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
TexasWaFD Small Business Credit LineRegional bank is offering a 5-year credit line with the first 90 days interest free to businesses who have experiened a 10% drop in revenue. Credit lines can be up to $200,000. Only available in Dallas and Austin.
TexasSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
TexasTruist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
TexasHarris County COVID-19 Forgivable LoanHarris County businesses can apply for 0% interest loans worth up to $25,000 to mitigate the impact of the coronavirus pandemic. Businesses with a tangible net worth not more than $15 million, and an average net income of $5 million or less after federal income taxes for the preceding two years prior to application.
TexasSmall Business Assistance ProgramThe county of Cedar Park, TX is offering up to $5,000 in grants and $10,000 in loans for local business with no more than 25 employees that have seen at least a 25% decline in revenue due to COVID-19.
TexasRound Rock CaresThe Round Rock Cares fund is providing financial support to local businesses with 50 or fewer full-time personnel and are able to demonstrate a clear financial impact on its operations as a result of COVID-19. NOTE: This fund is currently maxed out but anticipates additional funding soon.
TexasBusiness Recovery Loan ProgramThe program provides local small businesses a short-term (180 day) low interest (fixed rate – 3.25% APR) single-pay note. The APR (Annual Percentage Rate) will be offered for a limited time (through June 30, 2020) and is intended to provide gap financing for businesses awaiting insurance, SBA or other funding in their long-term recovery.
UtahWaFD Small Business Credit LineRegional bank is offering a 5-year credit line with the first 90 days interest free to businesses who have experiened a 10% drop in revenue. Credit lines can be up to $200,000. Only available in Dallas and Austin.
UtahSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
VermontSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
VirginiaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
VirginiaTruist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
VirginiaVirginia 30-Day FundPete and Burson Snyder have established a $100,000 fund to distribute up to $3,000 in forgivable loans to businesses with three to 30 employees that are impacted by the coronavirus pandemic. The fund is actually available nationwide.
VirginiaCentral Virginia COVID-19 Response FundThe Community Foundation and the Emergency Management Alliance of Central Virginia is providing rapid support to community organizations and public agencies that are meeting the needs of individuals and families most affected by the coronavirus pandemic. The fund is designed to be flexible in focus as needs change over time, and to complement other resources and responses at the national, state and local levels.
WashingtonWaFD Small Business Credit LineRegional bank is offering a 5-year credit line with the first 90 days interest free to businesses who have experiened a 10% drop in revenue. Credit lines can be up to $200,000.
WashingtonTax Relief ProgramsWashington state is offering tax relief by temporarily suspending penalties for late payments, pausing audits and other measures.
WashingtonShared Work ProgramWashington state is offering a shared work program that allows eligible businesses to reduce employee hours by as much as 50% without laying off the employee.
WashingtonSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
WashingtonPierce County Loan Program for Small Businesses Impacted by the COVID-19 PandemicPierce County passed an emergency ordinance funding loans for small businesses with 10 or fewer employees in the county that have seen at least a 25% reduction in revenue due to the COVID-19 pandemic. Loans can go up to $2,000 per employee but not to exceed $10,000. Applications are not available yet. Interested businesses should reach out the Pierce County Economic Development department.
WashingtonWorking Washington Small Business Emergency GrantsWashington state is providing $5 million in funding for grants to businesses impacted by the coronavirus pandemic with up to 10 employees. Grants can be up to $10,000, awarded on a case-by-case basis and will take 4-6 weeks. Nonprofits are not eligible.
West VirginiaSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
West VirginiaTruist Cares for Small Businesses GrantsTruist Financial Corp. is offering grants to small businesses that have experienced substantial losses in recent weeks through their community development financial institutions. Grants range from $5,000 – $25,000 and are only available to businesses with fewer than 10 full-time employees and no more than $1 million in gross revenue.
WisconsinOtto Bremer Trust Community Benefit Financial Company Emergency FundThe Otto Bremer Trust has set up a $50 million fund for nonprofits and community organizations Minnesota, Wisconsin, North Dakota, and Montana. The fund will provide resources in the form of short-term loans, lines of credit, and emergency grants.
WisconsinThe Small Business 20/20 ProgramThe Wisconsin Economic Development Corporation (WEDC) is offering impacted small businesses two months of payroll and rent expenses, up to a maximum of $20,000 through its community development financial institutions. Funds must be used for rent and payroll expenses, including covering paid leave (sick, family and other leave related to COVID-19) during the duration of the funding period.
WisconsinSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.
WisconsinRock County COVID-19 Emergency Small Business Loan Fund (SBLF)Rock County is making loans of up to $20,000 available to businesses experiencing financial difficulties due to the global COVID-19 pandemic. These loans will be structured as low-interest, working capital loans with terms that have an ability to extend up to 60-months.
WisconsinDane County Small Business Pandemic Support ProgramThere is $250,000 of available funding to support Dane County locally-owned small businesses with employee retention and to mitigate losses from the COVID-19 pandemic. Grant awards will range from $1,000 to $50,000.
WyomingJackson Hole Community Emergency Reponse FundThe Community Foundation of Jackson Hole have created a $300,000 fund to assist local nonprofits during the coronavirus outbreak.
WyomingSBA Coronavirus Relief LoansThe SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Repayment can extend up to 30 years.

Other Small Business Financial Aid

Salesforce Care Small Business Grants

Salesforce, partnering with Ureeka, offering small businesses $10,000 grants. Must be a for-profit business affected by COVID-19 outbreak with 2 to 50 employees. Also, must have been in business for at least two years as of March 2020 and have annual revenue of $250,000 to $2 million.

Facebook Small Business Grants Program

Facebook offering $100 million in cash grants and ad credits. Must be a for-profit business with 2 to 50 employees, in business for more than a year and in an area where Facebook is used.

Taking advantage of coronavirus financial aid programs

If you lose your job or experience reduced income as a result of COVID-19, take advantage of any relief programs for which you are eligible as soon as possible. Also, be proactive about your finances. If necessary, seek debt help before your financial troubles get out of hand. Examine your budget and make necessary cuts sooner than later during this unprecedented time. Here is a 7-step guide on how to recession-proof your finances in times like these.