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3 | Act/ Program/ Fund | Federal/ State | Description | Eligibility | Size | Additional Details | Source: | |
4 | Keeping Workers Paid and Employed Act | Federal | - The Keeping Workers Paid and Employed Act would prevent workers from losing their jobs and small businesses from going under due to economic losses caused by the coronavirus pandemic. - The plan would provide cash-flow assistance through 100 percent federally guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, the loans would be forgiven, which would help workers to remain employed and affected small businesses and our economy to quickly snap-back after the crisis. - This proposal would be retroactive to March 1, 2020, to help bring workers who may have already been laid off back onto payrolls. | - Small employers with 500 employees or fewer will be eligible to apply for the loans. - Conditional upon business retaining their employees and payroll levels during the covered. period (March 1, 2020, through June 30, 2020), the portion of the loan used to cover payroll and payments on pre-existing debt would be forgiven. Further, employers with tipped. employees would receive forgiveness for additional wages paid to such employees during the covered time. | - The size of the loans would be tied to an applicant’s average monthly payroll; mortgage, rent, and utility payments; and other debt obligations over the previous year. - The maximum loan amount would be $10 million. - The bill would provide $300 billion to support these loans. | Loan Guaranty Program: - These loans provide borrowers with revolving lines of credit for working capital purposes. - The bill would expand the allowable uses for the existing 7(a) Small Business Administration loan program to permit payroll support, including paid sick leave, supply chain disruptions, employee salaries, mortgage payments, and other debt obligations to provide immediate access to capital for affected small businesses. - The maximum loan amount for SBA Express loans would be increased from $350,000 to $1 million. These loans provide borrowers with revolving lines of credit for working capital purposes. Entreprenurial Assitance: - The bill would provide grants to offer counseling, training, and related assistance to small businesses affected by COVID-19: 1. $240 million for SBA Small Business Development Centers and Women’s Business Centers. The non-federal match for Women’s Business Centers would be waived for a period of three months. 2. $10 million for Minority Business Development Agency’s Minority Business Centers 3. $25 million for grants to associations representing resource partners. | https://www.rubio.senate.gov/public/_cache/files/b033189a-3152-4892-92cf-ec2aa6d35e22/18E9E50D6A36BE3ACFAE4AE7A793B738.final---one-pager---keeping-workers-paid-and-employed-act.pdf | |
5 | 7(a) Program | Federal | - Offers loan amounts up to $5,000,000 and is an all-inclusive loan program deployed by lending partners for eligible small businesses within the U.S. States and its territories. The uses of proceeds include: working capital; expansion/renovation; new construction; purchase of land or buildings; purchase of equipment, fixtures; lease-hold improvements; refinancing debt for compelling reasons; seasonal line of credit; inventory; or starting a business. | - Your business must have fewer than 500 employees, and less than $7.5 million revenue on average each year for the past three years. Your net income must be under $5 million (after taxes and not counting carry-over losses), and your tangible net worth must be less than $15 million. | - Up to $5,000,000 | https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources | ||
6 | Express Loan Program | Federal | - Though similar to the SBA 7(a) loan, which offers up to $5 million and has a guarantee of up to 85% of the loan amount, the “express” loan sets itself apart by being approved or denied within 36 hours. - If approved, funds become available to the business owner within 90 days. - There is a turnaround time of 36 hours for approval or denial of a completed application. - The uses of proceeds are the same as the standard 7(a) loan. | - Business must operate for profit - Must engage in operations within the USA - Should be in operation for at least 2 years - Must qualify as a small business according to SBA size standards - Must be able to prove/show a need for financing - Business owner must have already financed the business through alternative means - Must be able to show that funds will be used for sound business purposes - There can be no delinquencies on previous debts to the government | - Express loan program provides loans up to $350,000 for no more than 7 years with an option to revolve. | https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources | ||
7 | Community Advantage Loan Pilot Program | Federal | - Allows mission-based lenders to assist small businesses in underserved markets with a maximum loan size of $250,000. - The uses of proceeds are the same as the standard 7(a) loan. | - For profit businesses in underserved markets that can meet SBA’s size standards. Although a borrower must prove credit worthiness and the viability of the business idea: unlike traditional lending, qualification for this program is not limited by the size of the borrower’s balance sheet, or the amount of collateral involved | - Maximum loan size of $250,000. | https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources | ||
8 | 504 Loan Program | Federal | - Provides approved small businesses with long-term, fixed-rate financing used to acquire fixed assets for expansion or modernization. 504 loans are made available through Certified Development Companies (CDCs), SBA's community based partners for providing 504 Loan - 504 loan program is designed to foster economic development and job creation and/or retention. | - Under the 504 Program, a business qualifies if it has 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 - The eligible use of proceeds is limited to the acquisition or eligible refinance of fixed assets. | - While there is no maximum project size, the maximum SBA loan amount (debenture) is $5 million. | https://www.sba.gov/offices/headquarters/ofa/resources/4049 | ||
9 | Microloan Program | Federal | - Microloan program involves making loans through nonprofit lending organizations to underserved markets. - Authorized use of loan proceeds includes working capital, supplies, machinery & equipment, and fixtures (does not include real estate). | - Each intermediary lender has its own lending and credit requirements. Generally, intermediaries require some type of collateral as well as the personal guarantee of the business owner. | - The maximum loan amount is $50,000 with the average loan size of $14,000. | https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources | ||
10 | Economic Injury Disaster Loan Program | Federal | - The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. | - Small business owners in the following designated states are currently eligible to apply for a low-interest loan due to Coronavirus (COVID-19): California, Connecticut, Delaware, the District of Columbia, Florida, Georgia, Indiana, Maine, Massachusetts, Montana, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Rhode Island, Utah, and Washington | - Up to $2 million. | - Legislators of other states are pushing to be approved, (Colorado, Ohio approved since creation) | https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources | |
11 | Export Assitance: Export Express Loan Program | Federal | - SBA provides export loans to help small businesses achieve sales through exports and can help these businesses respond to opportunities and challenges associated with trade, such as COVID-19. - Export Express loan program allows access to capital quickly for businesses that need financing up to $500,000. - Businesses can apply for a line of credit or term note prior to finalizing an export sale or while pursuing opportunities overseas, such as identifying a new overseas customer should an export sale be lost due to COVID-19. | - The loans are available to U.S. small businesses that export directly overseas, or those that export indirectly by selling to a customer that then exports their products. | - Up to $500,000. | https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources | ||
12 | Export Assitance: Export Working Capital Program | Federal | - Enables small businesses to fulfill export orders and finance international sales by providing revolving lines of credit or transaction-based financing of up to $5 million. - Businesses could use a loan to obtain or retain overseas customers by offering attractive payment terms. | - The loans are available to U.S. small businesses that export directly overseas, or those that export indirectly by selling to a customer that then exports their products. | - Up to $5 million. | https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources | ||
13 | Export Assitance: Interntaion Trade Loan Program | Federal | - International Trade loan program helps small businesses engaged in international trade to retool or expand to better compete and react to changing business conditions. - It can also help exporting firms to expand their sales to new markets or to re-shore operations back to the U.S. | - The loans are available to U.S. small businesses that export directly overseas, or those that export indirectly by selling to a customer that then exports their products. | - Up to $5 million. | - The ITL is designed to help small businesses enter and expand into international markets and, when adversely affected by import competition, make the investments necessary to better compete. - The ITL offers a combination of fixed asset, working capital financing and debt refinancing with the SBA’s maximum guaranty— 90 percent— on the total loan amount. | https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources | |
14 | Chicago Small Business Resiliency Loan Fund | State | - Mayor Lori Lightfoot revealed a $100 million Chicago Small Business Resiliency Loan Fund that will provide low-interest loans to the city’s struggling small businesses hit by Coronavirus | - Businesses must attest to a more than 25 percent revenue decrease due to COVID-19, employ fewer than 50 workers and have gross revenues of less than $3 million in 2019. - Businesses will have to provide bank statements dating back to October 2019 and their most recent tax return | - Up to $50,000 but sized based on revenues before the COVID-19 outbreak | https://www.surveymonkey.com/r/COVID19Chicago | ||
15 | Colorado: Approved for Economic Injury Diaster Loan Program (see above) | State | - The U.S. small business Administration has approved Colorado’s request for a statewide Disaster declaration, a move that will free up billions in emergency loans at low interest rates for small businesses in The state. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.denverpost.com/2020/03/19/colorado-receives-disaster-declaration-from-feds-freeing-up-loans-for-small-businesses/ | ||
16 | Denver (Colorado) Economic Development and Opportunity's Emergency Relief Program | State | - The city is creating an initial relief fund of $4 million to support small businesses during this time. The city’s primary goal is to help the people most directly impacted by the disruptions caused by COVID-19. - The $4MM fund will provide eligible small businesses with grants up to $7500 or micro loans to support their stabilization efforts - These programs are aimed at supporting businesses so they can support their employees. | - The highest priority will be the industries most impacted by the coronavirus pandemic, such as the food industry. These businesses may have had to temporarily close, are struggling with paying their rent and utilities, or have had to lay off staff. | - Up to $7,500 | https://www.denvergov.org/content/denvergov/en/city-of-denver-home/news/2020/denver-announces-initial-economic-relief-package-for-businesses-.html | ||
17 | Maine: Approved for Economic Injury Diaster Loan Program (see above) | Federal | - Maine is one of the first states to be approved for SBA loans. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | |||
18 | Massachusetts Small Business Recovery Loan Fund Through the Economic Injury Diaster Loan Program (see above) | State | - A $10 million emergency fund set up to help small businesses struggling with the coronavirus pandemic | - Funds immediately available for companies with fewer than 50 full and part-time employees. | - Up to $75,000 | - Fund stopped taking applications on 3/19/2020 | https://www.forbes.com/sites/briannegarrett/2020/03/20/small-business-relief-tracker-funding-grants-and-resources-for-business-owners-grappling-with-coronavirus/#4590404add4c | |
19 | Michigan Small Business Relief Program | State | - Will provide up to $20 million in support for small businesses negatively impacted by COVID-19. - The funding is divided between $10 million in small business grants and $10 million in small business loans to support businesses facing drastic reductions in cash flow and the continued support of their workforce. - Funds for the program are expected to be available no later than April 1, 2020 | - The grant program is for businesses with 50 or fewer employees. - The loan program is for businesses with 100 or fewer employees. | - $10,000 grants available to eligible small businesses ($10M of fund commited to grants). - Small business loans ranging from $50,000 dollars to $200,000 ($10M of fund commited to loans). | - The Economic Development Corporation expects to be able to help 1,100 businesses across the state - They expect to start getting the money in the hands of businesses by April 1. | https://wsbt.com/news/regional/michigan-approves-millions-for-small-business-relief-because-of-covid-19 | |
20 | New York Small Business Relief Program | State | - Mayor Bill de Blasio announced on March 8 that the City will provide relief for small businesses across the City seeing a reduction in revenue because of COVID-19 | - Businesses with fewer than 100 employees who have seen sales decreases of 25% or more will be eligible for zero interest loans | - Up to $75,000 to help mitigate losses in profit. | https://www1.nyc.gov/site/sbs/businesses/covid19-business-outreach.page | ||
21 | New York Employee Retention Grant Program | State | - Offering small businesses a grant to cover 40% of payroll costs for two months to help retain employee | - Must be located within the five boroughs of New York City - Must demonstrate that the COVID-19 outbreak caused at least a 25% decrease in revenue - Employ 1-4 employees in total across all locations - Have been in operation for at least 6 months - Have no outstanding tax liens or legal judgements | - Up to $27,000 | https://www1.nyc.gov/nycbusiness/article/nyc-employee-retention-grant-program | ||
22 | San Francisco (California) COVID-19 Small Business Resiliency Fund | State | - Allows impacted small business owners to access up to $10,000 for employee salaries and rent. - This program is administered in partnership with Northeast Community Federal Credit Union | - Have at least 1 employee and no more than 5 employees - Demonstrate a loss of revenue of 25% or more - Have less than $2,500,000 in gross receipts - Be engaged in activities that are regulated by the City and County of San Francisco and have a license/permit associated to that regulation | - Up to $10,000 | https://oewd.org/covid-19-small-business-resiliency-fund | ||
23 | San Francisco (California) Additional Benefits | State | - Deferments on first quarter 2020 tax payments until February 2021 for small businesses with up to $10 million in annual sales; and - Delayed collection of the city's Unified License bill for at least three months, which includes fees for restaurants, food trucks, bakeries, and other small businesses. | - NA | - NA | https://www.inc.com/kevin-j-ryan/coronavirus-resource-list-for-businesses.html | ||
24 | San Francisco (California) Employee Assistance Program | State | - Paid sick leave for all workers, including temporary and part-time employees - Unemployment insurance for workers whose employers have reduced their hours or shut down operations (available through the California Employment Development Department) - Disability insurance for workers who are certified by a medical professional as having been exposed to Covid-19 - Up to six weeks of benefit payments for employees who are unable to work because they're caring for an ill or quarantined family member | - NA | - NA | https://www.inc.com/kevin-j-ryan/coronavirus-resource-list-for-businesses.html | ||
25 | Los Angeles (California) Emergency Microloans | State | - Los Angeles Mayor Eric Garcetti has announced an emergency loan programthrough an $11 million loan fund - Expected to serve 550 to 2,500 businesses | - Businesses must have their primary operation in Los Angeles | - Up to $20,000 | - The loan amounts of $5,000 to $20,000 come with 0% interest or 3% to 5% depending on creditworthiness and other factors. - Terms range from six months to five years. - The overarching purpose of the program is to retain low-income jobs, and the loans are not intended as an unsecured credit facility, meaning the city is preferring applicants provide collateral | https://www.latimes.com/business/story/2020-03-19/coronavirus-small-businesses-microloans-coronavirus-garcetti | |
26 | Florida Small Business Emergency Bridge Loan Program | - Florida Gov. Ron DeSantis made $50 million available to small businesses in the state hurt by the disaster. | - For-profit, privately held small businesses with 2 to 100 employees that maintain a place of business in Florida, were established before March 9, 2020 and suffered economic injury as a result of the disaster. - The need for the loan and use of the money must be directly related to the economic injury caused by the disaster | - Up to a $50,000 - * Loans of up to $100,000 are possible in special cases as warranted by the need of the eligible small business. | - The application period runs through May 8. - The money is for use while the business recovers or until insurance claims are paid or a company owner receives loan proceeds from a U.S. Small Business Administration Economic Injury Disaster Loan or commercial loan. Private nonprofit groups are eligible to apply for the SBA loan, Specht said, but not the state loan | https://www.tampabay.com/news/business/2020/03/18/coronavirus-how-small-businesses-in-florida-can-apply-for-aid/ | ||
27 | Ohio: Approved for Economic Injury Diaster Loan Program (see above) | State | - The U.S. small business Administration has approved Ohio's request for a statewide disaster declaration, a move that will free up billions in emergency loans at low interest rates for small businesses in the state. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.portsmouth-dailytimes.com/news/47606/sba-offers-disaster-assistance-to-ohio-small-businesses-economically-impacted-by-the-coronavirus | ||
28 | Texas: Currently working to qualify for the Economic Injury Diaster Loan Program (see above) | State | - The SBA is currently working with the state of Texas to identify small businesses in the state to make the case that the relief is needed. At least five small businesses must have suffered “substantial economic injury in a disaster area” for the state to make the loans available | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.dallasnews.com/business/economy/2020/03/13/millions-in-loan-assistance-could-be-available-to-d-fw-small-businesses-feeling-coronavirus-impact/ | ||
29 | Seattle (Washington) Business Stabalization Fund | State | - The city’s Office of Economic Development is providing $1.5 million in grants of up to $10,000 to small businesses. | - The business owner must have low- or median income (≤80% of the Area Median Income) - The business must have 5 or fewer employees, including the owner(s) - The business must have a physical location - The business must have experienced a loss of income due to COVID-19 | - Up to $10,000 | http://www.seattle.gov/office-of-economic-development/small-business/small-business-programs-/stabilization-fund-/faq | ||
30 | Seattle (Washington) Additional Benefits | State | - The mayor is deferring tax payments for business-owner candidates and will set up a small-business recovery task force. | - NA | - NA | https://www.forbes.com/sites/briannegarrett/2020/03/20/small-business-relief-tracker-funding-grants-and-resources-for-business-owners-grappling-with-coronavirus/#4590404add4c | ||
31 | Wisconsin Small Business 20/20 | State | - The Wisconsin Economic Development Corp (WEDC). launched Small Business 20/20—a $5 million grant program that will give companies with fewer than 20 employees up to $20,000. | - Program is targeted at some of the ‘smallest of the small’ businesses that are vital to their communities | - Up to 20,000 | - WEDC is encouraging CDFIs with a minimum organizational loan portfolio of at least $4 million to participate in SB20/20 | https://wedc.org/blog/wedc-announces-targeted-grants-to-small-businesses-suffering-losses-due-to-coronavirus-emergency/ | |
32 | Pennsylvania: Approved for Economic Injury Diaster Loan Program (see above) | State | - The U.S. small business Administration has approved Pennslyvania's request for a statewide disaster declaration, a move that will free up billions in emergency loans at low interest rates for small businesses in the state. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.lehighvalleylive.com/coronavirus/2020/03/small-businesses-nonprofits-can-now-seek-up-to-2m-in-disaster-loans-across-pa-nj.html | ||
33 | Pennsylvania: Small Business First Fund | State | - The Pennsylvania Industrial Development Authority (PIDA) will administer the Small Business First Fund with $61 million available initially for business assistance, according to a news release from state Sen. Lisa Boscola - Funds through this emergency response fund will be used for 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 can adjust the interest rates to as low as 0%. | - Small businesses that employ 100 people or less | - Up to $100,000 | https://www.lehighvalleylive.com/coronavirus/2020/03/pa-small-businesses-hit-by-coronavirus-getting-61m-in-emergency-loans.html | ||
34 | New Jersey: Approved for Economic Injury Diaster Loan Program (see above) | State | - The U.S. small business Administration has approved Pennslyvania's request for a statewide disaster declaration, a move that will free up billions in emergency loans at low interest rates for small businesses in the state. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.lehighvalleylive.com/coronavirus/2020/03/small-businesses-nonprofits-can-now-seek-up-to-2m-in-disaster-loans-across-pa-nj.html | ||
35 | Birmingham (Alabama): General Fund Cash and Investment | State | - Mayor Randall Woodfin’s $15 million COVID-19 Response Plan was developed to fund police, fire, public works and a stimulus program for small businesses affected by the pandemic. - $1.2 million of the $15 million will go to small businesses | - Small businesses (less than 50 employees) of no more than $25,000 (with an average loan size of $10,000) to prevent staff reductions and offset losses related to COVID-19. | - Up to $25,000 (with an average loan size of $10,000) | - The small business emergency loan fund, or BhamStrong Fund, is designed to provide zero-interest, 180-day loans to small businesses (less than 50 employees) of no more than $25,000 (with an average loan size of $10,000) to prevent staff reductions and offset losses related to COVID-19. | https://www.wbrc.com/2020/03/18/million-covid-response-plan-approved-birmingham/ | |
36 | Alaska: Currently working to qualify for the Economic Injury Diaster Loan Program (see above) | State | - Gov. Mike Dunleavy's disaster declaration provides up to $2 million in funding through the Small Business Administration for the coronvirus pandemic - The Alaska SBDC urges small businesses to gather three years of tax information, financial statements for the past three years including profit & loss and balance sheets, and prepare a narrative on the losses suffered due to the COVID-19 virus | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.kinyradio.com/news/news-of-the-north/small-business-loans-available-in-alaska/ | ||
37 | Arizona: Approved for Economic Injury Diaster Loan Program (see above) | State | - U.S. Small Business Administration (SBA) approved an Economic Injury Disaster Loan declaration for Arizona that will help small businesses here in the state impacted by COVID-19. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.azfamily.com/news/continuing_coverage/coronavirus_coverage/million-in-emergency-coronavirus-cash-granted-by-arizona-senate/article_e70ce24e-6a57-11ea-b165-1f747831b7a8.html | ||
38 | Arkansas: Currently requesting approvalfor Economic Injury Diaster Loan Program (see above) | State | - The governor is requesting a federal disaster declaration to allow small business loans of up to $2 million | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.azfamily.com/news/continuing_coverage/coronavirus_coverage/million-in-emergency-coronavirus-cash-granted-by-arizona-senate/article_e70ce24e-6a57-11ea-b165-1f747831b7a8.html | ||
39 | Arkansas Community Development Block Grant | State | - Will allocate $12 million in Community Development Block Grant money to help relief and recovery efforts for companies and nonprofits. | - Small businesses, but loan priority to businesses critical to the state's economy | - Not disclosed | https://www.arkansasedc.com/covid19 | ||
40 | Arkansas Quick-Action Fund | State | - Second, the governor will also use $4 million from his quick-action fund to provide bridge loans of up to $250,000 for mid-sized firms to make payroll and remain in operation. | - Small businesses, but loan priority to businesses critical to the state's economy | - up to $250,000 | - The quick-action fund is typically used as an economic development tool, providing lump-payments to businesses the state is recruiting to Arkansas or helping expand. | https://www.arkansasedc.com/covid19 | |
41 | Louisiana: Approved for Economic Injury Diaster Loan Program (see above) | State | - U.S. Small Business Administration (SBA) approved an Economic Injury Disaster Loan declaration for Louisiana that will help small businesses here in the state impacted by COVID-19. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.fox8live.com/2020/03/19/louisiana-one-first-approved-statewide-sba-loans/ | ||
42 | Connecticut: Currently requesting approvalfor Economic Injury Diaster Loan Program (see above) | State | - The governor is requesting a federal disaster declaration to allow small business loans of up to $2 million | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.ctpost.com/business/article/Lamont-files-request-for-SBA-disaster-declaration-15133743.php | ||
43 | Delaware: HELP Program | State | - Governor John Carney on Wednesday announced the Hospitality Emergency Loan Program (HELP) to provide financial relief for restaurants, bars and other hospitality industry businesses that employ thousands of Delawareans. | - Businesses must have been in operation for at least a year, have annual revenue below $1.5 million and be in a certain hospitality-connected industries. | - Up to $10,000 per month | - The money can cover rent, utilities and other unavoidable bills but cannot be used for personnel costs. The no interest loans have a 10-year term with payments deferred for nine months. | https://news.delaware.gov/2020/03/18/governor-carney-announces-help-program-to-support-delaware-small-businesses/ | |
44 | Georgia: Approved for Economic Injury Diaster Loan Program (see above) | State | - U.S. Small Business Administration (SBA) approved an Economic Injury Disaster Loan declaration for Georgia that will help small businesses here in the state impacted by COVID-19. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.wrdw.com/content/news/568921691.html | ||
45 | Maryland: Approved for Economic Injury Diaster Loan Program (see above) | State | - U.S. Small Business Administration (SBA) approved an Economic Injury Disaster Loan declaration for Maryland that will help small businesses here in the state impacted by COVID-19. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://baltimore.cbslocal.com/2020/03/19/coronavirus-small-business-financial-help-latest/ | ||
46 | Minnesota: Currently working to qualify for the Economic Injury Diaster Loan Program (see above) | State | - The SBA is currently working with the state of Minnesota to identify small businesses in the state to make the case that the relief is needed. At least five small businesses must have suffered “substantial economic injury in a disaster area” for the state to make the loans available | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.hometownsource.com/morrison_county_record/coronavirus/minnesota-deed-working-with-sba-to-activate-economic-injury-disaster/article_4f26bbbc-6868-11ea-9ac6-177350c653e6.html | ||
47 | Mississippi: Currently working to qualify for the Economic Injury Diaster Loan Program (see above) | State | - The SBA is currently working with the state of Mississippi to identify small businesses in the state to make the case that the relief is needed. At least five small businesses must have suffered “substantial economic injury in a disaster area” for the state to make the loans available | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.clarionledger.com/story/news/politics/2020/03/18/reeves-requests-low-interest-loans-businesses-facing-covid-19/2870510001/ | ||
48 | Missouri: Currently working to qualify for the Economic Injury Diaster Loan Program (see above) | State | - The SBA is currently working with the state of Missouri to identify small businesses in the state to make the case that the relief is needed. At least five small businesses must have suffered “substantial economic injury in a disaster area” for the state to make the loans available | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.missourinet.com/2020/03/19/parson-expects-sba-to-approve-his-coronavirus-request-for-missouri-businesses/ | ||
49 | Montana: Approved for Economic Injury Diaster Loan Program (see above) | State | - Governor Steve Bullock announced that small businesses across Montana impacted by the novel coronavirus (COVID-19) are now eligible to apply for emergency loans through the Small Business Administration. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://baltimore.cbslocal.com/2020/03/19/coronavirus-small-business-financial-help-latest/ | ||
50 | Nebreska: None | State | - NA | - NA | - NA | |||
51 | Utah: Approved for Economic Injury Diaster Loan Program (see above) | State | - U.S. Small Business Administration (SBA) approved an Economic Injury Disaster Loan declaration for Utahthat will help small businesses here in the state impacted by COVID-19. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.kuer.org/post/salt-lake-city-council-tentatively-approves-1-million-small-business-coronavirus-loan-program#stream/0 | ||
52 | Salt Lake City (Utah) Small Business Loan Funding | State | - Salt Lake City will set aside $1 million on loans for local businesses with less than 50 employees. The maximum loan amount will be $20,000, with the goal of helping at least 50 businesses | - Salt Lake City businesses with less than 50 employees | - Up to $20,000 | https://www.kuer.org/post/salt-lake-city-council-tentatively-approves-1-million-small-business-coronavirus-loan-program#stream/0 | ||
53 | Rhode Island: Approved for Economic Injury Diaster Loan Program (see above) | State | - U.S. Small Business Administration (SBA) approved an Economic Injury Disaster Loan declaration for Rhode Island that will help small businesses here in the state impacted by COVID-19. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://turnto10.com/news/local/small-business-administration-providing-low-interest-loans-amid-coronavirus | ||
54 | Nevada: Approved for Economic Injury Diaster Loan Program (see above) | State | - U.S. Small Business Administration (SBA) approved an Economic Injury Disaster Loan declaration for Nevada that will help small businesses here in the state impacted by COVID-19. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.reviewjournal.com/news/politics-and-government/small-businesses-could-get-interest-free-disaster-loans-under-bill-1986943/ | ||
55 | New Hampshire: Approved for Economic Injury Diaster Loan Program (see above) | State | - U.S. Small Business Administration (SBA) approved an Economic Injury Disaster Loan declaration for New Hampshire that will help small businesses here in the state impacted by COVID-19. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.unionleader.com/news/business/sba-state-of-nh-offer-disaster-assistance-to-nh-businesses/article_5e754742-6e16-564b-b963-44dee18fbbbf.html | ||
56 | Wyoming: None | State | - NA | - NA | - NA | |||
57 | West Virginia: None | State | - NA | - NA | - NA | |||
58 | Virginia: Approved for Economic Injury Diaster Loan Program (see above) | State | - U.S. Small Business Administration (SBA) approved an Economic Injury Disaster Loan declaration for Virginia that will help small businesses here in the state impacted by COVID-19. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.virginiabusiness.com/article/small-businesses-hurt-by-coronavirus-can-apply-for-federal-funds/ | ||
59 | Vermont Small Business Loan Program | State | - Vermont Small Business Loan Program is available to assist growing Vermont small businesses that are unable to access adequate sources of conventional financing. This program may make loans of up to $500,000 for fixed asset acquisition or for working capital purposes | - Eligible borrowers must be U.S. citizens or 51%-owned by U.S. citizens, and unable to access conventional credit - Applicants must demonstrate potential to create/retain employment opportunities for Vermonters. | - Up to $500,000. | https://www.veda.org/financing-options/vermont-commercial-financing/small-business-loan-program/ | ||
60 | Tennesse: Currently working to qualify for the Economic Injury Diaster Loan Program (see above) | State | - The SBA is currently working with the state of Tennesse to identify small businesses in the state to make the case that the relief is needed. At least five small businesses must have suffered “substantial economic injury in a disaster area” for the state to make the loans available | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.washingtonexaminer.com/politics/tennessee-seeks-low-interest-federal-loans-for-small-businesses-with-disaster-declaration-request | ||
61 | South Dakota: Approved for Economic Injury Diaster Loan Program (see above) | State | - U.S. Small Business Administration (SBA) approved an Economic Injury Disaster Loan declaration for South Dakota that will help small businesses here in the state impacted by COVID-19. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.yankton.net/community/article_e47ffeac-6adf-11ea-8ca1-fb8adf43e13c.html | ||
62 | North Dakota: Currently working to qualify for the Economic Injury Diaster Loan Program (see above) | State | -The North Dakota Department of Commerce is urging businesses experiencing or forecasting financial issues relating to the coronavirus pandemic to start preparing a Small Business Administration (SBA) Disaster Loan application. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.kxnet.com/news/state-news/nd-businesses-affected-by-virus-encouraged-to-prepare-sba-disaster-loan-applications/ | ||
63 | South Carolina: None | State | - NA | - NA | - NA | |||
64 | North Carolina: Approved for Economic Injury Diaster Loan Program (see above) | State | - U.S. Small Business Administration (SBA) approved an Economic Injury Disaster Loan declaration for North Carolina that will help small businesses here in the state impacted by COVID-19. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.wect.com/2020/03/19/us-small-business-administration-grants-disaster-declaration-nc-business-owners/ | ||
65 | Oregon: Requesting Qualification for Economic Injury Diaster Loan Program (see above) | State | - Gov. Kate Brown sent the request earlier this week, but the SBA has not made a disaster declaration yet. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://nbc16.com/news/coronavirus/oregon-small-businesses-still-waiting-to-apply-for-federal-disaster-loans | ||
66 | Oklahoma: Approved for Economic Injury Diaster Loan Program (see above) | State | - U.S. Small Business Administration (SBA) approved an Economic Injury Disaster Loan declaration for Oklahoma that will help small businesses here in the state impacted by COVID-19. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://oklahoman.com/article/5657893/the-us-small-business-administration-declares-a-coronavirus-disaster-in-24-oklahoma-counties | ||
67 | New Mexico: Approved for Economic Injury Diaster Loan Program (see above) | State | - U.S. Small Business Administration (SBA) approved an Economic Injury Disaster Loan declaration for New Mexico that will help small businesses here in the state impacted by COVID-19. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.kob.com/coronavirus/small-business-administration-offers-emergency-loans-for-businesses-affected-by-coronavirus/5677008/ | ||
68 | Kentucky: Requesting Qualification for Economic Injury Diaster Loan Program (see above) | State | - Gov. Andy Beshear sent the request earlier this week, but the SBA has not made a disaster declaration yet. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.courier-journal.com/story/money/companies/2020/03/18/coronavirus-kentucky-heres-how-small-businesses-can-get-help/2870464001/ | ||
69 | Kansas HIRE Fund | State | - Gov. Kelly announced the creation of the Hospitality Industry Relief Emergency (HIRE) Fund.
- In the fund, $5 million is available for businesses with 100 or fewer employees to apply for a bridge loan to keep them afloat. - Each business can receive a maximum of $20,000 from the fund. | - Small businessees with 100 or fewer employees | - Up to $20,000 | https://www.kshb.com/news/coronavirus/kansas-officials-announce-new-initiatives-to-aid-businesses-in-covid-19-shutdown | ||
70 | Kentucky: Requesting Qualification for Economic Injury Diaster Loan Program (see above) | State | - Gov. Andy Beshear sent the request earlier this week, but the SBA has not made a disaster declaration yet. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.kshb.com/news/coronavirus/kansas-officials-announce-new-initiatives-to-aid-businesses-in-covid-19-shutdown | ||
71 | Iowa: Requesting Qualification for Economic Injury Diaster Loan Program (see above) | State | - Part of Iowa Governor Kim Reynold’s State of Public Disaster proclamation is to ask for federal funding for small businesses. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.kcrg.com/content/news/Small-businesses-feeling-the-pressure-of-coronavirus-closures-568952211.html | ||
72 | Indiana: Approved for Economic Injury Diaster Loan Program (see above) | State | - U.S. Small Business Administration (SBA) approved an Economic Injury Disaster Loan declaration for Indiana that will help small businesses here in the state impacted by COVID-19. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.eaglecountryonline.com/news/local-news/gov-holcomb-announces-small-business-assistance-in-response-to-covid-19/ | ||
73 | Illinois: Approved for Economic Injury Diaster Loan Program (see above) | State | - U.S. Small Business Administration (SBA) approved an Economic Injury Disaster Loan declaration for Illinoisthat will help small businesses here in the state impacted by COVID-19. | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://www.kmov.com/news/illinois-small-business-owners-now-eligible-for-low-interest-federal/article_a9402e50-6a37-11ea-9c0c-4394c3a61f3f.html | ||
74 | Idaho: Requesting Qualification for Economic Injury Diaster Loan Program (see above) | State | - The Idaho Department of Commerce and the US Small Business Association are working to bring economic injury disaster loans to Idaho businesses. - State applied to be approved | - Small business owners in designated states are eligible to apply for a low-interest loan due to Coronavirus (COVID-19) (see above) | - The state will allocate up to $2 million in aid for small businesses. | https://boisedev.com/news/2020/03/19/sba-loans-could-start-flowing-to-idaho-businesses-soon-what-you-need-to-know | ||
75 | Hawaii: None | State | - NA | - NA | - NA | |||
76 | 2 Trillion Stimulus Bill | Federal | - The Senate bill, unprecedented in its size and scope, would send $1,200 checks to many Americans, expand uneployment benefits, create a $367 billion loan program for small businesses, and establish a $500 billion lending fund for industries, cities and states - Additional measures in the legislation temporarily raise the maximum amount of a 7(a) loan to $10 million from $5 million and instruct lenders to determine how much to lend based on a formula that takes into account a business’s past payroll expenses. The proposal also sets the maximum interest rate for these loans at 4% - Tax cut bundled into the program that enables companies to recoup 2018 and 2019 losses in 2020 | - Checks sent to Americans: payments phase out at individuals making more than $99,000 and couples making more than $198,000 - Businesses and nonprofits with 500 or fewer employees are generally eligible for the loans - Self-employed workers and gig workers, such as drivers for ride-share apps, also qualify for the loans. Qualified borrowers must have been in business before February 15, and must have paid employee salaries and payroll taxes or contractors | - Businesses can receive loans up to $10 million | - Breakdown: - $301B of direct payments made to Americans (up to $1,200 with an additional $500 per child) - $250B for expanded unemployment insurance - $117B for hospitals and veterans' health care - $367 billion in loans to small businesses (spend on payroll, utilities, and rent does not have to be repaid) - $500 billion in loans, loan guarantees, or investments available for companies, municipalities, and states that've been harmed - Those with federal student loans won't need to make monthly payments through Sept. 30, with no interest accruing | https://www.cnn.com/2020/03/25/politics/stimulus-package-details-coronavirus/index.html - WSJ and other public sources |
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1 | Do you have additional resources we should add to this sheet? Please email SupportDatabase@blisce.com | |||||||
2 | ||||||||
3 | Act/ Program/ Fund | Public/ Private | Description | Eligibility | Size | Additional Details | Source: | |
4 | Facebook Small Business Grants | Private | - Grants and Ad Credits for Businesses Impacted by Covid19, up to $100M Available. | - Still Being Determined | - $100M for the Program overall, they are currently telling companies to sign up for updates. Recommend talking to your Facebook representative if you have one as we have also heard there is an internal spreadsheet | https://www.facebook.com/business/boost/grant | https://www.facebook.com/business/boost/grant | |
5 | Amazon Small Business Grants | Private | - Grants for Small Business in Seattle, can also read more about overall amazon programs here: https://blog.aboutamazon.com/company-news/amazons-actions-to-help-employees-communities-and-customers-affected-by-covid-19 | - The fund is intended for small businesses with fewer than 50 employees or less than $7 million in annual revenue, physical presence within a few blocks of our Regrade, South Lake Union, and Bellevue office buildings, that are open to the general public, and that are reliant on foot traffic for customers. | - $5M Made available so far for this program. | https://blog.aboutamazon.com/company-news/amazons-actions-to-help-employees-communities-and-customers-affected-by-covid-19 | https://blog.aboutamazon.com/job-creation-and-investment/helping-local-small-businesses-through-the-impacts-of-covid-19 | |
6 | Goldman Sachs | Public | - Partnered with the City of New York for a $20 million emergency loan facility that will bring flexible capital up to $75,000 to businesses with fewer than 100 employees - Additionally, set up the Goldman Sachs COVID-19 Relief Fund: A $25 million commitment through Goldman Sachs Gives to support healthcare organizations, frontline responders, and the hardest-hit communities. To further encourage giving toward relief efforts, we’ve also established a special matching gift program for our people, up to a total of $5 million. | - Businesses with fewer than 100 employees can apply here: https://www1.nyc.gov/nycbusiness/article/nyc-small-business-continuity-loan-program | - Up to $75,000 | https://www.goldmansachs.com/citizenship/10000-small-businesses/US/small-business-resources/index.html | ||
7 | JP Morgan | Private | - Programs still being rolled out, can read more here: https://www.jpmorganchase.com/corporate/news/pr/jpmc-makes-50mm-philanthropic-investment-to-address-impacts-of-covid-19.htm | https://www.jpmorganchase.com/corporate/news/pr/jpmc-makes-50mm-philanthropic-investment-to-address-impacts-of-covid-19.htm | ||||
8 | Silicon Valley Bank | Private | - Announced COVID-19 Response & Community Supporty initiatives that include: 1. SVB Debt Relief: Will provide certain venture debt borrowers with loans $10 million or less (or local currency equivalent) an opportunity to defer their principal payments for a period of six months. Clients that qualify for this program will be notified directly. This SVB program is expected to reach up to $600 million in aggregate payment relief across our global client base. 2. SVB expects to participate in the Paycheck Protection Program under the US Coronavirus Aid, Relief and Economic Security (CARES) Act once regulations are released | - SVB clients can apply on the Company's website for the debt relief program - Government debt relief and emergency grants for small businesses only | - Up to $10M loans for SVB Debt Relief program | - SVB is also supporting Hello Alice’s Business for All initiative through emergency grants for COVID-19 relief. Hello Alice, a free platform that guides business owners through the growth of their company, recently launched a COVID-19 Business Resource Center updated daily with real-world funding, federal and state resources, mentors and support for New Majority entrepreneurs adapting to the impacts of coronavirus | https://www.svb.com/news/company-news/silicon-valley-bank-announces-covid-19-response-community-support | |
9 | US Chamber of Commerce | Public/Private | - Corona Virus Resource Page: https://www.uschamberfoundation.org/coronavirus | https://www.uschamberfoundation.org/coronavirus | ||||
10 | Yelp | Public | - 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 | - Restaurant and nightlife busineses | - NA | - Waived advertising fees - Free advertising - Free access to Yelp page upgrades - 90 days of free access to Yelp Reservations and Waitlist - $100 in free search advertising to restaurants with delivery/takeout - Support for local advertisers “in other categories that are struggling to pay their bills” | https://www.theverge.com/2020/3/20/21187939/yelp-coronavirus-social-distancing-restaurants-nightlife-review-moderation-relief-fund | |
11 | Uber | Public | - Waived delivery fees | - Independent restaurants in US and Canada | - NA | https://www.businessinsider.com/emergency-funding-for-small-businesses-affected-by-the-coronavirus-2020#grubhub-9 | ||
12 | GrubHub | Public | - Deferred delivery fees | - Independent restaurants in US | - Up to $100 million in commission payments | https://www.businessinsider.com/emergency-funding-for-small-businesses-affected-by-the-coronavirus-2020#grubhub-9 | ||
13 | Telecom Companies Pledge | Public | - Comcast, Charter, Verizon, and dozens of other internet and phone providers have signed an FCC pledge to 'keep Americans connected' even if they can't pay during disruptions caused by coronavirus - Not terminate service to any residential or small business customers because of their inability to pay their bills due to the disruptions caused by the coronavirus pandemic; - Waive any late fees that any residential or small business customers incur because of their economic circumstances related to the coronavirus pandemic; and | - Small business customers | - Next 60 days | https://www.businessinsider.com/coronavirus-internet-phone-fcc-pledge-keep-america-connected-online-isp-2020-3?utm_source=feedburner&%3Butm_medium=referral&utm_medium=feed&utm_campaign=Feed%3A+businessinsider+%28Business+Insider%29 | ||
14 | TikTok | Private | TikTok is pledging $375 million; including $250 million in funds, $100 million in ad credits, and $25 million in ad space for public health information - The $250 million in funding is split into a couple of different relief funds: - 1. Health Heroes Relief Fund ($150 million), which will provide money for medical staff, supplies and hardship relief for healthcare workers. - 2. Community Relief Fund ($40 million) which provides money to organizations helping communities that have been hit hard by the health crisis (TikTok will also match an additional $10 million in donations). - 3. $50 million to support distance learning initiatives. | - $100 million in ad credits to help small and medium-sized businesses which are struggling in the wake of the pandemic | - $375 million pledged | https://www.theverge.com/2020/4/9/21214684/tiktok-coronavirus-relief-fund-ad-credits-375-million-medical-workers-health-information | ||
15 | Netflix | Public | - A $100 million relief fund to help members of the creative community who have been left unemployed and without a way to earn an income during the coronavirus crisis - Bulk of the funds will go toward supporting laid-off crew members | - Members of creative community | - $100 million relief fund | - Additionally, $15 million of the Netflix fund will go to third parties and non-profits that offer emergency relief to out-of-work crew and cast in countries where there’s a large production base. Of that, Netflix said it will donate $1 million each to the SAG-AFTRA COVID-19 Disaster Fund, the Motion Picture & Television Fund, and the Actors Fund Emergency Assistance in the U.S., as well as $1 million between the AFC and Fondation des Artistes | https://variety.com/2020/film/news/netflix-coronavirus-relief-fund-100-million-dollars-1203540530/ | |
16 | Public | - $800 million pledged, which includes free advertising for small and medium-sized businesses as well as health organizations - $250 million in ad grants to “help the World Health Organization (WHO) and more than 100 government agencies globally provide critical information on how to prevent the spread of Covid-19 and other measures to help local communities.” - $200 million investment fund will support NGOs and financial institutions around the world to help provide small businesses with access to capital. - $340 million in “Google Ads credits will be made available to all SMBs with active accounts over the past year. Credit notifications will appear in their Google Ads accounts and can be used at any point until the end of 2020 across our advertising platforms.” - $20 million in Google Cloud credits for academic institutions and researchers to leverage Alphabet’s computing capabilities and infrastructure as they study potential therapies and vaccines, track critical data, and identify new ways to combat Covid-19 | - Google Ads credits will be available to all SMBs with active accounts in the past year | - $800 million pledged | https://www.silicon.co.uk/e-marketing/advertising/coronavirus-google-pledges-800-million-covid-19-337873 | |||
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1 | Do you have additional resources we should add to this sheet? Please email SupportDatabase@blisce.com | |||||||
2 | ||||||||
3 | Act/ Program/ Fund | Country/ Region | Description | Eligibility | Size | Additional Details | Source: | |
4 | Social contribution (URSAFF) payment deferral | Country | - Postponed employers contributions payment for 3 months without penalty | - One to one negotation with URSSAF - Ventures need to provide justification in order to benefit the scheme | - Amount equal to 0, or amount corresponding to the payment of part of their contributions | https://www.urssaf.fr/portail/home/actualites/autres-actualites/epidemie-de-coronavirus.html | ||
5 | Payroll tax payment deferral | Country | - Fiscal tax freeze | - Any venture can request the freeze / direct debit deferral | - Payment of their next direct tax installments.There is no minimum/maximum amount. | - Deferral of payment of social security contributions without penalty Employers are allowed to defer the payment of all or part of their employee and employer social contributions due to URSSAF by March 15, 2020, for up to three months, without incurring any penalty. - Deferral of payment of tax installment without penalty. Companies (or accountants acting on behalf of their clients) may request from the tax authorities (Service des Impôts des Entreprises, SIE) to defer the payment of their next direct tax installments (corporate tax, payroll tax), without penalty. | https://www.impots.gouv.fr/portail/node/9751 | |
6 | Tax & social debts payment delays | Country | - Payment delay for ventures facing difficulties in paying their tax and social debts | - Contact the Commission des chefs de services financiers (CCSF). - Ventures need to provide balance sheets and proof they cannot pay their current debts in time | - There is no minimum/maximum amount | https://www.impots.gouv.fr/portail/professionnel/ccsf-et-codeficiri | ||
7 | Direct taxes waiving | Country | Income taxes, Territorial Economic Contribution and other direct taxes can be waived under exceptional circumstances | Case by case application. Demands need to be addressed according to the link: https://www.impots.gouv.fr/portail/node/13465 | https://www.impots.gouv.fr/portail/node/13465 | |||
8 | State-backed liquidity loan scheme | Country | - €300bn unlocked by the Government to guarantee liquidity loans contracted by ventures from their banks between March 16th to December 31st 2020 - The Temporary Framework includes 5 types of aid (see additional details column) - Banks to defer payment of loans by up to 6 months without penalties under this scheme | - Two schemes enabling the French public investment bank Bpifrance to provide State guarantees on commercial loans and credit lines, for enterprises with up to 5,000 employees - A scheme to provide State guarantees to banks on portfolios of new loans for all types of companies. This is direct aid to the companies that will enable banks to quickly provide liquidity to any company that needs it | - Direct grants up to €800,000 | - 5 types of aid: 1. Direct grants, selective tax advantages and advance payments: Member States will be able to set up schemes to grant up to €800,000 to a company to address its urgent liquidity needs. 2. State guarantees for loans taken by companies from banks: Member States will be able to provide State guarantees to ensure banks keep providing loans to the business customers who need them. These state guarantees can cover loans to help businesses cover immediate working capital and investment needs. 3. Subsidised public loans to companies: Member States will be able to grant loans with favourable interest rates to companies. These loans can help businesses cover immediate working capital and investment needs. 4. Safeguards for banks that channel State aid to the real economy: Some Member States plan to build on banks' existing lending capacities, and use them as a channel for support to businesses – in particular to small and medium-sized companies. The Framework makes clear that such aid is considered as direct aid to the banks' customers, not to the banks themselves, and gives guidance on how to ensure minimal distortion of competition between banks. 5. Short-term export credit insurance: The Framework introduces additional flexibility on how to demonstrate that certain countries are not-marketable risks, thereby enabling short-term export credit insurance to be provided by the State where needed. The Commission will continue monitoring the situation and stands ready to amend the list of marketable risk countries if needed. | https://ec.europa.eu/commission/presscorner/detail/en/IP_20_503 | |
9 | Public Credit Ombudsman | Country | - Public support to negotiate payment deferral with private credit establishments | - No eligiblity restrictions, 48h answer following initial request: https://mediateur-credit.banque-france.fr/ - The ombudsman will establish the recevability of your request, establish a plan alongside you and intermediate with your creditors | - Max deferral of entire payment | https://mediateur-credit.banque-france.fr/ | ||
10 | Part time activity scheme | Country | - Employees reduce their working time to face business activity decrease. - During this period of time contracts are "on hold" but not "terminated" | - No eligibility restrictions specified, requests can be made at: https://activitepartielle.emploi.gouv.fr/aparts/ - Ventures have 30 days to submit their requests with retroactive effect | - The State will fully refund ventures for each salary up to €6,927 gross monthly salary (4,5x the French minimum wage SMIC). - Employees receive 84% to 100% of their salary — the government will reimburse companies | - Employee are paid 100% for the effective working hours, 70% gross salary (and around 84% net salary) for the non-working hours. | https://activitepartielle.emploi.gouv.fr/aparts/ | |
11 | BPI Loan Guarantee | Country | - The Public Investment Bank (BPI) will guarantee up to 90% of a bank loan (3 to 7 years loan) and 90% of an overdraft for a 12 to 18 months period | - Submit your request at: https://mon.bpifrance.fr/authentication/?TAM_OP=login&ERROR_CODE=0x00000000&URL=%2Fmon-espace%2F#/formulaire/soutienauxentreprises Call 0 969 370 240 | - Up to 90% of a bank loan | |||
12 | Prêt Rebond (with BPI) | Regional | - €30k to €300k non-guaranteed loan for SMEs with preferential deferred repayment terms and 2 years grace period | - Only available in certain regions (see regions here: https://les-aides.fr/fiche/apFjCntG2e3B/bpifrance/pret-rebond-grand-est.html'-) | - €30k to €300k | https://les-aides.fr/fiche/apFjCntG2e3B/bpifrance/pret-rebond-grand-est.html'- | ||
13 | Prêt Atout (with BPI) | Country | - €50k to €30M non-guaranteed loan for SMEs and mid-sized companies available, with preferential deferred repayment terms | - All business sectors, except exclusions (SCI, financial intermediation companies, property development and rental companies, agricultural companies with a turnover of less than € 750,000, and companies in difficulty) | - €50k to €30M | https://www.bpifrance.fr/Toutes-nos-solutions/Prets/Prets-sans-garantie/Pret-Atout | ||
14 | Various measures | Regional | - Regional authorities have taken various measures to support local businesses, ranging from loan guarantees to zero tax rates etc. | - Regional Measures are recapped in the link in additional detials | - Region specific | - Link: https://business.lesechos.fr/directions-financieres/financement-et-operations/gestion-de-tresorerie/0602922473488-coronavirus-les-mesures-phares-des-regions-pour-soutenir-les-entreprises-335881.php | https://business.lesechos.fr/directions-financieres/financement-et-operations/gestion-de-tresorerie/0602922473488-coronavirus-les-mesures-phares-des-regions-pour-soutenir-les-entreprises-335881.php | |
15 | Workforce skill development | Country | - Skill training for employees. | - Training must be leading to a certification / qualification or "validation des acquis" (details in Labor code articles L. 6314-1 and L. 6313-11) | - NA | https://travail-emploi.gouv.fr/emploi/accompagnement-des-mutations-economiques/appui-aux-mutations-economiques/article/conventions-de-fne-formation | ||
16 | Bpifrance’s PIA (Programme d’Investissements d’Avenir) | Country | - Startups that were in the process of raising a new funding round will be able to raise a bridge round through Bpifrance’s PIA (Programme d’Investissements d’Avenir). | - Targets of this scheme are start-ups which were in the process of raising funds or which were to carry out one in the coming months and who are unable to do so due to the contraction of venture capital. | - Not yet specified, but (~€160M pledged between Bpifrance and private investors) | - Bpifrance is putting $86.7 million (€80 million) on the table. Private investors will co-invest as much as $86.7 million (€80 million) as well | https://techcrunch.com/2020/03/25/france-announces-4-3-billion-plan-to-support-startups/ | |
17 | Accelerated Tax Returns, Particularly VAT returns and tax returns on R&D | Country | - Startups can get tax returns more quickly, and in particular VAT returns and tax returns on research and development investments | - Startups as defined by French government | - Represents a liquidity injection of $1.6 billion (€1.5B) | https://techcrunch.com/2020/03/25/france-announces-4-3-billion-plan-to-support-startups/ | ||
18 | Acceleration of Public Support Payments | Country | - Bpifrance is speeding up public support payments, transferring $270 million (€250 million) ahead of schedule. | - Applicable only to ventures who have received previous BPI support | - Additional details to be disclosed | https://techcrunch.com/2020/03/25/france-announces-4-3-billion-plan-to-support-startups/ | ||
19 | Additional Borrowings | Country | - Startups can borrow as much as two years of payroll for employees based in France or 25% of annual revenue — whichever is higher.
| - Startups as defined by French government | - Two years of payroll for employees based in France or 25% of annual revenue — whichever is higher | https://techcrunch.com/2020/03/25/france-announces-4-3-billion-plan-to-support-startups/ | ||
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3 | Act/ Program/ Fund | Federal/ Country | Description | Eligibility | Size | Additional Details | Source: | |
4 | KfW Entrepreneur Loan | Country | - Assumption of risk (liability waivers) of up to 80% for the on-lending financing partners (usually the regular banks) for working capital loans with a volume of lending of up to EUR 200 million. A higher degree of risk assumption can facilitate the willingness of financing partners to grant loans. - Granting of liability waiver also to large companies with annual turnover of up to EUR 2 billion (previously: EUR 500 million). | - Contact your bank to apply to this scheme - Companies on the market for 5+ years | - Working capital loans with a volume of lending of up to EUR 200M | https://www.kfw.de/KfW-Group/Newsroom/Latest-News/KfW-Corona-Hilfe-Unternehmen.html | ||
5 | KfW Loan for Growth | Country | - Temporary extension to general corporate finance including working capital by way of syndicate financing (previously limited to investments in innovation and digitalisation) - Increase in the sales limit from EUR 2 billion to EUR 5 billion for companies eligible to apply. - Increase in the partial risk assumption up to 70%. This facilitates the access of medium-sized and larger companies to individually structured, tailored syndicate financing | - Contact your bank to apply to this scheme - Companies on the market for 5+ years | - NA | https://www.kfw.de/KfW-Group/Newsroom/Latest-News/KfW-Corona-Hilfe-Unternehmen.html | ||
6 | ERP Start-Up Loan – Universal | Country | - Companies on the market for less than 5 years - Assumption of risk of up to 80% for the on-lending financing partners (usually the regular banks) for working capital loans up to EUR 200 million. A higher degree of risk assumption can facilitate the willingness of financing partners to grant loans. - Granting of liability waiver to large companies with annual sales of up to EUR 2 billion (previously: EUR 500 million) | - Contact your bank to apply to this scheme | - Working capital loans with a volume of lending of up to EUR 200M | https://www.kfw.de/KfW-Group/Newsroom/Latest-News/KfW-Corona-Hilfe-Unternehmen.html | ||
7 | Part time activity scheme | Country | - The government will be reimbursing companies for wages paid to employees kept in work on reduced hours to minimize layoffs' | - Subject to governmental approval | - Reuimbursement to be determined | https://www.dentons.com/en/insights/articles/2020/march/12/covid-19-rights-and-obligations-of-the-employer-in-germany | ||
8 | Bankrucy scheme | Country | - Bankruptcy rules are being reviewed in an attempt to give companies adversely affected more flexibility | - Applies to companies whose insolvency is due to the effects of the corona epidemic and where there are reasonable prospects of restructuring | - NA | https://www.lto.de/recht/kanzleien-unternehmen/k/coronavirus-krise-insolvenz-unternehmen-insolvenzantrag-frist-aussetzen-justizministerium/ | ||
9 | Kurzarbeit extension | Country | - Germany voted in a law expanding its short-time work scheme called Kurzarbeit. Under it, companies that implement reduced hours for their workers can receive state support. - This gives businesses an alternative to straight firings. | - Loosened eligibility requirements so that only 10 percent of a firm’s employees need to be affected to trigger short-time work payments, and extending the compensation to temporary and agency workers | - NA | https://www.bmwi.de/Redaktion/EN/Downloads/a/a-protective-shield-for-employees-and-companies.pdf?__blob=publicationFile&v=3 https://docs.google.com/document/d/1_ZPupiczJiQwvbXIQA_bfVpUSWEfgFre_XqzJ5AFPBE/edit | ||
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3 | Act/ Program/ Fund | Country/ Region | Description | Eligibility | Size | Additional Details | Source: | |
4 | Coronavirus Job Retention Scheme | Country | - All UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis | - All UK businesses are eligible. | -Grant to those employers of up to 80% of an employee’s wages (subject, that is, to a maximum grant of £2,500 per month). | https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses | ||
5 | VAT and Income Tax payments deferral | Country | - Valued Added Tax (VAT) payments deferred for 3 months | - All UK businesses are eligible. | - Case specific, to be determined | - The VAT deferral will apply to payments from VAT-registered businesses due between 20 March and 30 June 2020 | https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses | |
6 | Statutory Sick Pay relief package for SMEs | Country | - Allow small-and medium-sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19 | - Small-and medium-sized businesses | - Up to 2 weeks' SSP for each eligble employee | https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses | ||
7 | Retail and Hospitality Grant Scheme | Country | - Cash grants for retail, hospitality and leisure businesses | - Businesses in the retail, hospitality and leisure sectors in England | - Provides businesses in the retail, hospitality and leisure sectors with a cash grant of up to £25,000 per property. - Businesses in these sectors with a property that has a rateable value of £15,000 and under will receive a grant of £10,000. - Businesses in these sectors with a property that has a rateable value of between £15,000 and £51,000 will receive a grant of £25,000 | https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses | ||
8 | Coronavirus Business Interruption Loan Scheme | Country | - Temporary scheme delivered by the British Business Bank, to support businesses to access bank lending and overdrafts | - Smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow. | - Facilities up to £5m for smaller businesses across the UK | https://www.british-business-bank.co.uk/wp-content/uploads/2020/03/British-Business-Bank-CBILS-FAQs-for-SMEs-FINAL.pdf | ||
9 | Covid-19 Corporate Financing Facility | Country | - The Bank of England will buy short term debt from larger companies. - This will support your company if it has been affected by a short-term funding squeeze, and allow you to finance your short-term liabilities. - It will also support corporate finance markets overall and ease the supply of credit to all firms. | - All non-financial companies that meet the criteria set out on the Bank of England’s website are eligible | - Not yet available | - The CCFF will be available for drawings on March 23, 2020. - The CCFF is intended to provide additional funding to businesses in the U.K. to assist with cash flow pressures following the COVID-19 shock. - The CCFF appears to be one aspect of the £330 billion package of government guarantees which was also announced on March 17, 2020. | https://www.bankofengland.co.uk/news/2020/march/the-covid-corporate-financing-facility | |
10 | Time To Pay Scheme | Country | - All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service. | - These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities. | - Case specific, to be determined | https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses | ||
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3 | Act/ Program/ Fund | Country/ Region | Description | Eligibility | Size | Additional Details | Source: | |
4 | Tax rebates & deferral | Country | - Companies earning €2m or less (largerr companies can defer payments) | - Applicable tax payments | https://www.gazzettaufficiale.it/eli/gu/2020/03/17/70/sg/pdf | |||
5 | Liquidity support | Country | - Companies earning €2m or less do not have to pay taxes whilst larger companies can ask to defer payments | - Companies negatively impacted by Coronavirus | - Unlimited | https://www.gazzettaufficiale.it/eli/gu/2020/03/17/70/sg/pdf | ||
6 | Loan guarantees | Country | - State guarantee for small businesses up to €5m | - Small and medium-sized businesses | - Guarantees for small businesses up to €5m | https://www.gazzettaufficiale.it/eli/gu/2020/03/17/70/sg/pdf | ||
7 | Employee rights | Country | - Companies are prohibited from laying off workers for the next two months without "justified objective reasons" | - All businesses | - NA | https://www.gazzettaufficiale.it/eli/gu/2020/03/17/70/sg/pdf | ||
8 | Investment | Country | - The government has promised more measures to come, including support for investments. | - Details to be announced | - Details to be announced | |||
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3 | Act/ Program/ Fund | Country/ Region | Description | Eligibility | Size | Additional Details | Source: | |
4 | Tax payment deferral | Country | - Companies adversely affected can apply to defer tax payments | - Small and medium businesses and the self-employed | - Additional details to be revealed | https://www.agenciatributaria.es/AEAT.internet/en_gb/Inicio/La_Agencia_Tributaria/Campanas/_Campanas_/Medidas_Tributarias_COVID_19/Medidas_Tributarias_COVID_19.shtml | ||
5 | Loan payment deferral | Country | - Payments can be postponed on loans granted by the General Secretariat for Industry | - Additional details to be revealed | - Additional details to be revealed | https://www.mincotur.gob.es/es-es/gabineteprensa/notasprensa/2020/documents/np%20conf%20sect%20ind%20covid19.pdf | ||
6 | State backed loans | Country | - Instituto de Credito Oficial, a state-backed lender, will be providing loans to companies and self-employed people who have been negatively affected | - Additional details to be revealed | - Additional details to be revealed | http://www.institutofomentomurcia.es/web/portal/ico/-/asset_publisher/v7nU7prRfl2V/content/el-info-crea-un-plan-de-contingencia-para-minimizar-el-impacto-del-coronavirus-en-las-empresas-murcianas | ||