ASHI and MEDIC First Aid Blog

Many small businesses – including emergency care training businesses – have been impacted by the COVID-19 pandemic.

And businesses, nonprofits and all levels of government are pulling together to provide financial relief to small businesses during this unprecedented time.

Whether you manage a large Training Center or function as a one-instructor show, these programs are meant to provide financial assistance to those who are struggling to stay afloat.

Here are some resources to explore that may provide opportunities to receive funding.

Small business loan

The Small Business Administration (SBA) has multiple funding options available for small businesses. In addition to SBA’s regular funding programs, the CARES Act provides temporary programs for small businesses and self-employed individuals affected by this pandemic.

• Economic Injury Disaster Loan (EIDL). This program provides low interest working capital loans of up to $2 million. The program also includes a loan advance up to $10,000 that does not have to be repaid – regardless of whether your loan is actually approved or not. Keep in mind that these are the maximum amounts, not necessarily the amount that you will be approved for. For more information, contact 1-800-659-2955 or email disastercustomerservice@sba.gov.

• Paycheck Protection Program. This program provides small businesses with up to 8 weeks of funding to cover payroll costs and other certain businesses expenses, like mortgages, rents and utilities. The loan amount is eligible for forgiveness if funds are used appropriately. Reach out to your bank or find an eligible lender for more information.

New funds were just approved for these programs. So, you’ll need to apply quickly if you haven’t already.

State and local grant opportunities

Many nonprofit organizations and government entities have funds available to small businesses experiencing economic hardship. Here’s a few examples:

• The Illinois Department of Commerce is offering business (not located within Chicago) grants of 60 days of working capital up to $25,000.

• Texas Woman’s University is providing Texas-based women-owned businesses with $10,000 grants.

• The Texas Black Expo is making $1,000 grants available to 100 qualifying entrepreneurs.

• The Virginia 30 Day Fund is offering assistance to Virginia-based small businesses with 3-30 employees.

View your state or local government’s website for more information about various programs available in your area. You can also contact your local SBA office or your Chamber of Commerce for information about programs you might qualify for. And be sure to search for grants online by entering your location and keywords like “small business COVID grants”.

General small business grants

Here’s some general small business grants that have open applications or upcoming dates.

• Salesforce Care Small Business Grants. This program will soon be offering $10,000 grants

• Facebook Small Business Grants Program. This program is offering $100 million in cash grants for up to 30,000 eligible small businesses. Applications are currently available to small businesses located in New York City, Seattle and the San Francisco Bay Area. However, applications in other eligible cities should become available, so sign up for email alerts through their website.

• S. Chamber of Commerce Save Small Business Fund. This initiative provides $5,000 grants to small businesses that employ between 3 and 20 people. Only available to small businesses located in economically vulnerable communities. Check your business zip code within their website to see if your area is eligible.

• GoFundMe Small Business Relief Fund. This initiative offers a one-time matching grant to qualifying small businesses. As part of their requirements, you must raise at least $500 on the GoFundMe platform.

• Local Initiatives Support Corporation. Grants of up to $10,000 are available to small businesses, “especially to entrepreneurs of color, women-owned businesses and other enterprises in historically under-served placed who don’t have access to flexible, affordable capital.” The first round of funding is closed, but the next round should be opening in mid-April.

• Business for All grants. This program provides $10,000 to $50,000 grants as part of its on-going efforts to support small businesses. In addition, it’s offering $10,000 COVID-19 emergency grants to be distributed immediately.

• The Red BackPack Fund. The Spanx by Sara Blakely Foundation is making 1,000 grants of $5,000 each to female entrepreneurs who have been impacted by the COVID-19 pandemic. Applications will become available again on May 4, June 1, July 6 and August 3.

These entities may also have free business tools and other resources, so be sure to browse their websites.