The Coronavirus crisis has created a financial burden to small businesses everywhere, causing a ripple effect that impacts not just our economy, but our citizens. To help offset this financial strain for small businesses, a group of corporate and philanthropic partners have come together to create the “Save Small Business Fund”. The goal of this fund is to provide small businesses with $5,000 grants as supplemental income for business operations.
For eligibility small businesses must meet this criterion:
· Employ between three and 20 individuals
· Be located in an economically vulnerable region
· Have experienced financial harm due to the Coronavirus crisis
Small businesses can apply for these grants starting at noon on April 20. Business will only need their W-9 while filling out the application, and it should only take about 10 minutes to complete. These grants will be issued weekly while funds are available, and businesses only need to complete the application once for funding consideration. These funds will be distributed on a first come, first serve basis. When a grantee is notified that they will be a recipient of the grant, they should be prepared to send payment information that meets the required compliance check. Once that process has been completed, payment should arrive to the recipient in three to five business days.
The application site is https://www.savesmallbusiness.com/.