In Part 1 of our Small Business Grants Program, we reviewed the Google Shopping Listing Grants and other changes announced by Google this week to help small businesses during COVID-19.
In this article, we are going to review how other Fortune 100’s are responding to the crisis.
Facebook Offers $100 Million In Small-Business Grants
Facebook is joining the long list of companies supporting small business during COVID-19 and offering cash grants and advertising credits to assist those whose revenues have been directly impacted by the global pandemic.
The deadline to apply is Wednesday, May 6 at 11:59p ET, but it’s recommended that you submit applications as soon as possible.
Up to 30,000 eligible small businesses in more than 30 countries where Facebook operates will be able to receive the grant. To be eligible to apply, your business must:
- Have between 2 and 50 employees
- Have been in business for over a year
- Have experienced challenges from COVID-19
- Be in or near a location where Facebook operates
Local Banks & Other Lenders Small Business Assistance Programs
Many financial institutions have offered deferment and forbearance to business loan and residential mortgage customers having trouble making payments. Check Forbes’ list of banks offering relief. You can also search for your bank on the American Bankers Association’s ongoing A-Z list of coronavirus response programs.
Amazon Neighborhood Offers $5 Million in Small Business Relief Funds
If you are a business that was impacted by COVID-19 in the Bellevue, Wash. and the South Lake Union and Regrade neighborhoods of Seattle — particularly “main street” businesses and those that rely on foot traffic — can apply online for a grant from Amazon’s $5 million fund. Amazon will then review your application and determine on a case-by-case basis the amount of the grant your business may qualify for. Keep in mind that only businesses with 50 employees or less, or that take in less than $7 million in annual revenue will qualify according to their guidelines.
What to do Next:
Begin gathering all the necessary documents to start the application process:
- Federal Employer Identification Number (FEIN)
- Partnership documents
- Business license
- Proof of incorporation
- Official business registration
- Contact information
- Brief summary about your business
- Explanation of how you would use the cash grant
- And begin applying
Good luck and we are all rooting for our country to come out of this as quickly as possible!
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