Additional Financial Resources to Fund Small Businesses

by Melanie Griffin March 23, 2020

In follow-up to our March 18^th Resources to Fund & Support Small Businesses article, additional resources to help fund businesses impacted by the COVID-19 crisis have been identified. If you or your business are in need of help, or you want to save the local businesses that serve us so well all year long, read on for ways you can provide support or benefit from such efforts.

The Small Business Administration (SBA) Disaster Loan: The SBA is providing low-interest disaster loans with long-term repayment plans to businesses that are experiencing loss as a result of the COVID-19 crisis. For more information on federal disaster loans available to businesses, private non-profits, homeowners, and renters, click here.

Aid for Minority Businesses: JPMorgan Chase has pledged $8 million in aid to small businesses, focusing on black, Hispanic and Asian Pacific-owned businesses struggling to access capital to keep their doors open. To learn more about this opportunity click here.

The Main Street Initiative: Restaurants and other brick-and-mortar businesses may receive an immediate zero-interest $2,000 loan when they open a capital raise campaign on the Mainvest crowd-funding platform. More information on this revenue sharing model can be found here.

Shopify Free E-Commerce Gift Card Support: Shopify is providing gift card support on all plans to help small businesses impacted by the COVID-19 pandemic. To help businesses combat abrupt declines in sales, many local communities have responded in support by purchasing digital gift cards from their favorite business. Offering gift cards gives customers a way to easily support your business today. More information on how to use gift card sales to supplement your business can be found here.

JBF Food and Beverage Industry Relief Fund: The James Beard Foundation (JBF) is currently gathering support from corporate, foundation, and individual donors to provide micro-grants to independent food and beverage businesses in need. To help bring swift economic relief to these essential businesses, or to inquire about criteria to apply for the JBF Food and Beverage Industry Relief Fund, please provide your information here.

Another Round, Another Rally Fund: Another Round, Another Rally Fund is offering $500 relief grants for hospitality workers who have lost their jobs or are experiencing decreased hours as a result of the COVID-19 outbreak. For more information about this opportunity click here.

USBG Emergency Fund: The USBG National Charity Foundation has created a bartender emergency assistance program, available to all bartenders, as well as the spouse or child of a bartender, being affected by the current COVID-19 crisis. For more information about this opportunity click here.

The Restaurant Workers’ Community Foundation COVID19 Crisis Relief Fund: This relief fund was created to provide crisis relief funds to organizations leading on-the-ground efforts in the restaurant community, to provide zero-interest loans to businesses to maintain payroll during closure or re-open once this crisis has passed, and to establish a relief fund for individual workers facing economic hardship or health crisis as a direct result of COVID-19. For more information on this relief fund, click here.

OFW Emergency Fund: OFW is providing free, cash assistance to restaurant workers, delivery drivers and other tipped workers and service workers who are seeing their income decline during this disaster or aren’t able to work because of quarantines or health concerns. For more information on cash assistance click here.

CORE Gives COVID-19 Crisis Fund: CORE grants support to children of food and beverage service employees navigating life altering circumstances. In response to the COVID-19 crisis, funds are being allocated to help with essential needs of families of restaurant employees including medical supplies and equipment, gas, groceries, clothing, therapy, utilities, rent and mortgage payments. For more information on how to get assistance or to donate to CORE click here.

Hopefully the forgoing ideas and those in our March 18^th article help you fund or support small businesses. You know what, though? We want to help even more! If YOU have additional information to share with the SYS community, email Spread Your Sunshine Founder Melanie Griffin at melanie@spreadyoursunshine.com or message Spread Your Sunshine on Facebook or Instagram. Together, we can have the greatest impact on our communities and those whom we love most!