Private and Nonprofit Companies: Grants
Here’s a running list of private companies and nonprofits that are extending support to struggling business owners.
Amazon announced a $5 million Neighborhood Small Business Relief Fund to provide cash grants to local Seattle small businesses. From March 26 to April 30, Amazon Lending is also pausing repayment from sellers who have outstanding loans, and seller loans will not accrue interest during this time period.
Bacardi has pledged $3 million in relief to bars and restaurants affected by the COVID-19 shutdowns as part of its #RaiseYourSpirits campaign.
Facebook announced a $100 million grant for small businesses impacted by COVID-19 and launched the Business Resource Hub, which features recommendations to help small businesses stay connected to customers and stay on track.
Fattmerchant, a payment technology provider, has partnered with Gift Up! to allow its clients to sell virtual gift cards. Gift Up! is waiving its usual 3.49% fee for Fattmerchant’s members’ first $5,000 in gift card sales.
Freelancers Union created a relief fund that will offer financial assistance of up to $1,000 per freelance household.
GoFundMe has partnered with Yelpto allow independent businesses to start fundraisers and accept donations through Yelp’s pages. The Yelp Foundation and GoFundMe also both pledged to donate up to $1 million to the GoFundMe.org Small Business Relief Fund.
Goldman Sachs announced a slew of initiatives to support small businesses impacted by COVID-19, including a Small Business Stimulus Package allocating $250 million in emergency loans and $25 million in grants. The company has committed a total of $300 million.
Honeycomb Credit, an investment crowdfunding platform, announced a small business relief loan program that’s providing $10,000 to $50,000 in working capital to qualifying businesses.
James Beard Foundation started aFood and Beverage Industry Relief Fund to provide microgrants to independent food and beverage small businesses in need.
JPMorgan pledged $50 million to help struggling customers, and $8 million in aid to small businesses, specifically.
Kabbage launched an online hub to help boost sales for U.S small businesses impacted by COVID-19, including a system through which businesses can sell gift cards to consumers for use at a later date.
Kangaroo wants to support business owners who are unable to be physically present at their offices: The security startup is offering free (for three months) security camera and monitoring kits.
Kiva isurging small businesses to apply for 0% interest loans for up to $15,000. The company is also offering a longer grace period: New borrowers can access a grace period of up to six months.
Loom launched a cash runway scenario planning tool that helps small business owners gauge the impact COVID-19 could have on their companies.
MainVest, a crowdfunding platform, announced its new Main Street Initiative: a $2,000, 0% interest, 120-day loan for restaurants or other brick-and-mortars affected by the shutdown, in addition to its normal fundraising offerings.
Mark Cuban Cos. will reimburse employees for any lunch or coffee purchases from local independent small businesses.
Nav launched a CARES Act SBA Loan Calculator small businesses can use to navigate the new legislation.
Opportunity Fund, which specializes in money lending to small businesses owned by women, immigrants and people of color, is collaborating with investors and nonprofits to put together a coronavirus relief fund that will provide grants and low-interest-rate loans to business owners in need.
Revel Systems, a cloud-based point of sale company, created a $1 million Revel Relief Program that will be allocated to small business customers experiencing coronavirus-related issues.
Ring announced its Neighbor Pledge initiative, which encourages individuals and groups to create pledge groups to support local businesses.
Seated launched a hotline for restaurant owners to get advice from finance and law experts in the hospitality industry.
The National Restaurant Association Educational Foundation announced the Restaurant Employee Relief Fund that will provide grants on a first-come first-served basis to restaurant owners and employees in need.
The Restaurant Workers’ Community Foundation formed a COVID-19 Emergency Relief Fund for small businesses and their restaurant workers, and is accepting donations.
Wefunder, an investment crowdfunding platform, launched a Coronavirus Crisis Loans program enabling small businesses to crowdfund loans of $20,000 to $1 million from supporters.
Yelp CEO Jeremy Stoppelman announced the company is providing $25 million in coronavirus relief for independent restaurant and nightlife businesses in the form of waived advertising fees, and free advertising, products and services.