All businesses are experiencing tough times because of the negative impact of the ongoing Covid-19 pandemic. Some companies had to exit the market because they couldn’t survive the burnout. Others had to rethink their business model and learn important information like these erc faqs, to have a clearer understanding of grants and taxes.
Although times are tough, President Biden’s government has put assistance in place by enacting the 1.9 trillion coronavirus stimulus bill designed to assist both individuals and businesses. This bill provides aid in the form of grants, loans, and tax credits.
Aside from the federal assistance programs, additional aid is available from the state and local government as well as the private sector.
The post will give you a complete list of Covid-19 small business support grants in the U.S. to help you sort through and find out what is available for you at the moment. The list highlights grants from the federal government and the state small business initiatives where the states and governors are taking the most action.
A. Government Grants
The Grants.gov website has the most comprehensive database of funds coming from the federal government. The site has a list of thousands of grants that companies from all backgrounds can apply for.
However, some of the government assistance may reach businesses through certain entities like the state and local governments and agencies, higher learning institutions, and nonprofit organizations. These organizations may, in turn, distribute these funds and at times use them to offer educational and technical assistance at a local level.
Therefore a business may qualify for more than one program, such as the federal grant and contract options as well as financial support from the state and local governments. However, the government’s free money comes with a huge amount of paperwork, it’s time-consuming as well as technical.
Further, companies benefiting from this money should understand the legal and administrative prerequisites in addition to complying with continuing reporting and auditing requirements.
The following are a sample of grants you can use to boost your business during these Covid-19 times.
Covid-19 Economic Injury Disaster Loan (EIDL)
The loan is availed through U.S. Small Business Administration (SBA) to small business owners such as agricultural businesses and nonprofit organizations in all states in the U.S. and their territories.
The purpose of EIDL is to help these businesses meet financial obligations and operating expenses that they can do so now because of the Covid-19 pandemic. Businesses can use these funds to pay rent, fixed debt, utilities, and the continuation of health care benefits.
Further, the business must be located in low-income communities and has a temporary loss of revenue due to Covid-19.
The National Institute of Health Grants (NIH)
The NIH has multiple grants for funding opportunities related to Covid-19 research. The funds are reserved for companies developing and researching biomedical technology and runs throughout 2021 and beyond.
Shuttered Venue Operators Grants (SVOG)
The SVOG is sponsored by SBA and targets venue operators such as theaters and museums that were in business as of February 29, 2020, but were negatively affected by the coronavirus pandemic. Such businesses are eligible for $10 million or 45% of their previous year’s gross earned revenue, whichever is less. The $16.2 billion economic relief targeting hard-hit small businesses will help venue operators get started again.
U.S. Economic Development Administration (EDA)
This is part of the U.S. Department of Commerce that provides ongoing funding opportunities to all projects that support national and regional development. The EDA investments target projects in higher education, research, and evaluation, planning, construction, non-construction, and more.
U.S Small Business Administration State Trade Expansion Program (STEP)
Federal funds for this program are distributed through state entities to support small businesses that desire to export products. So each state sets eligibility criteria that every small business must meet when they want to obtain entry to foreign markets, participate in foreign trade missions and shows, design international marketing campaigns and products, or develop websites using this financial assistance.
Rural Innovation Stronger Economy (RISE) Grants
The RISE Grant Program supports higher education institutions, nonprofits, tribal entities, state entities, and public bodies operating in low-income rural areas. Its grants are varied for 4 years and range between $500,000 and $2 million. These organizations can accelerate business formation through these grants, create and support high-wage jobs, use local productive assets optimally, and support industry clusters.
Small Business Innovation Research Program (SBIR)
Small for-profit businesses that desire to participate in federal research and development with a view to commercialization can apply for SBIR grants. The highly competitive awards-based program is geared towards assisting businesses to achieve technological innovation and scientific excellence.
Small Business Technology Transfer Program (STTR)
Like SBIR, this program funds federal research in the R&D arena, and the participating for-profit organization must have a formal partnership with a nonprofit research institution as well as meet other requirements. The goal is to profit from the commercialization of resulting innovations.
U.S. Department of Commerce Minority Business Development Agency (MBDA)
These grants and loans are available throughout the year and target minority-owned businesses. The aim is to help these businesses penetrate new markets both locally and globally as well as grow in size and scale.
B. State Initiatives for Small Businesses and Nonprofits Organizations
Different states launched and expanded their small business initiatives to cushion them from the negative effects of the Covid-19 pandemic as well as the economic crisis. These are Federal Coronavirus Relief Fund provided under the CARES Act
The following are state funding support for various small business categories:
Revive Alabama Small Business Grant Program: Small Businesses with 19 full-time equivalent employees were awarded a cash grant of up to $15,000.
Specific Business Sectors State Funding: The program targeted the timber sector because the value of timber dropped due Covid-19 pandemic. The support would also help them to continue operating as responsible stewards of the Alabama forestlands. So $10 million of CRF was to be given as state grants to timber owners
Expanded Small business CRF: Small businesses that were eligible for Economic Injury Disaster Loan Funds and Federal Paycheck Protection Program were encouraged to apply for Alaska Cares Grants. The fund was launched to assist Alaska’s small businesses that didn’t qualify for any federal assistance.
Therefore commercial fishermen, nonprofit, or small businesses that received EIDL and PPP amounting to $5,000 and below could now apply for AK CARES Grants.
Support for Small business Training and Mentoring: The Arizona Small Business Association Live Local Program was launched and allocated funds amounting to $600,000. The aim of this program is to train small businesses as well as help them to find and navigate available resources, build relationships with the surrounding communities, and offer mentorship and internship programs.
The Business Education Foundation will use this program to research the impact of small businesses in understanding growth trends, best practices, and policy analyzes. Under this program, small businesses will get personalized training courses to help them strengthen financial stability, operate smoothly, attract and retain customers as well as increase networks.
State Broadband Grants Supporting Commerce and Small Business Development: The Rural Connect broadband grant program received $100 million in CRF that is administered by the State Broadband Office that is housed in the Arkansas Department of Commerce. Before the Arkansas CARES Act steering committee proposal, the initial allocation was $19.3 million in CRF and $5.7 million in state funds.
The California Small Business Covid-19 relief Grant Program: Competitive micro-grants ranging between $5,000 and $25,000 were awarded to nonprofits and small businesses hardest hit by the Covid-19 pandemic. The $4 billion grant program is the biggest in the country and will be administered in 3 rounds.
Businesses and Nonprofits Organization: Energize Colorado Gap Fund was allocated $6 million, and Governor Jared Polis announced that over $31 million will be distributed in the form of loans and grants to small businesses and nonprofits. These are companies that were affected by the statewide shutdown and can’t access any other form of financing through local, state, and federal programs.
Connecticut Fund: A multi-year initiative of $150 million was established to support fledgling small businesses operating in communities hardest hit by the coronavirus pandemic. $75 of this fund was obtained from Connecticut’s share of the federal Covid-19 relief fund and another $75 million in state bonding.
These funds will target businesses owned by women, minorities, veterans, and individuals with disabilities. Further, the fund will offer flexible financial help to these businesses in the form of low-cost debt, grants, equity as well as funding for technical assistance and training,
Layered State Funding and Incentives: The state implemented different direct supports for recovery. Hospitality Emergency Loan Program is one of the Covid-19-specific support programs launched at the state level to direct resources to the business owners.
Delaware’s Relief Grants were launched to distribute funding to small businesses. Still, the state established a $25 million Nonprofit Support Fund to assist such organizations.
State Support for Local Community Economic Development Strategies Supporting Small Businesses: The Competitive Florida Partnership grant program was allocated $280,000 to be distributed by the Florida Department of Economic Opportunity to eight small and rural communities. The program is a partnership between the Department of Economic Opportunity and the community that is geared toward creating a strategic vision of addressing economic development needs. Therefore each community will receive $35,000 to finance the establishment of a strategic plan that focuses on growth and diversity.
DeKalb County Better Business Loan Program: In partnership with local financial institutions and other partners, the program will administer $10 million in the form of loans to small DeKalb County businesses affected by the Covid-19 pandemic.
Fiserv Back2Business Grant: Fiserv is supporting small businesses to get back to operation through a program that targets black and minority-owned small businesses operating in communities hardest hit by Covid-19 and affected by social unrest. The back2Business will offer consulting services and up to $10,000 to cover employee payroll, operations equipment, and resources, rent, or lease payments.
Businesses Pivoting Operations toward Covid-19’s Needs: The state’s Chamber of Commerce, in partnership with the Governor, launched the Hawaii Business Pivot Grant program, which will distribute nearly $25 million aid to struggling small businesses in the form of financial and training support. The funds are also supposed to help these businesses adjust to the new normal as a result of the Covid-19 pandemic.
Thus, nearly 2,500 small businesses will receive reimbursement grants to help them meet their expenses of implementing changes to their products, services, and operations but up to $10,000.
Cash Grants for Small Businesses: The state of Idaho approved a cash grant of up to $10,000 to support small businesses that were not eligible for the SBA-backed Payroll Protection Loan or companies that received $10,000 and below. The grant is available to businesses with 50 or fewer employees and can use the funds to pay for utilities, rent, equipment, inventory, and PPE.
Employees Returning to Work: Businesses in Idaho had sought Return to Work bonuses for their staff, and the state allocated $100 million in CRF for that. Workers that returned to work were given bonuses amounting to $750 for part-time work and $1,500 for full-time work.
Layered State Funding and Incentives: The state launched two grant programs in partnership with the Department of Commerce and Economic Opportunity, totaling $85 million. The Rebuild Distressed Communities Grants and Business Interruption Grants target thousands of businesses affected by Covid-19.
A $16.6 million investment was used to create job opportunities for workers who lost their jobs as a result of the pandemic. A disaster recovery Grant Program set aside $8.3 million, the same as the Employment Recovery Grant Program. The funds were used in training, hiring, and placing nearly 1,300 residents in different jobs related to the pandemic. These are part of the National Dislocated Worker Program of the U.S. Department of Labor.
Specific Business Sectors State Funding: The program focused on the meat processing sector. The Meat Processing Expansion and Development Grant was established and received $4 million in CRF to support small and local meat processing agribusinesses.
Specific Populations to Promote Inclusivity and Equity: The Small Business Restart Grants program targets certified minority-owned and women-owned businesses. The program has experienced some changes since its inception in order to increase the award amount and businesses utilizing the program.
Businesses Forced to Close Category: The Iowa Small Business Relief Grant Program offers a one-time $10,000 grant to establishments like taverns, bars, and more. These businesses were forced to close due to the Covid-19 disaster proclamation.
State Broadband Grants Supporting Commerce and Small Business Development: The state’s Commerce Department created the Broadband Development Office as well as a $49.3 million investment in 67 at 160 locations throughout the state.
Small Businesses Covid-19 Support: The Louisville Metro Government partnered with Park Community Credit Union to distribute $2.2 million through federal Community Development Block Grant dollars to small businesses affected by the coronavirus pandemic. 50% of the federal dollars will go to small businesses operating in Smoketown, Louisville, and Shelby Park communities. The loans and grants will prioritize women-owned and minority-owned businesses. Then grant will be $50,000 will loans will range between $5,000 and $150,000 at 0.75% fixed rate and maximum term of 84 months
Small Business Grants: The state set $300 million out of 1.8 billion federal CARES Act to support small businesses with up to 50 full-time employees as of March 1 with $15,000 each and $511 million to be used to reimburse local governments. The applicants should provide proof of interruption of business by the Covid-19 pandemic.
New Startups: Through Maine Economic Recovery Grant Program, the state distributed the initial financial awards to nonprofits and small businesses. This program is backed by $2000 million in CRF. The next phase targeted organized that had up to 250 employees. $5 million was set aside for startups that are less than a year old.
State Coordination of Federal and State-Funded Layoff Aversion Programs: The Small Business Covid-19 Emergency Relief Grant Fund was expanded and administered through CRF was allocated $45 million. Another 5 million was allocated to Small Business Development Financing Authority that targets economically and socially disadvantaged entrepreneurs.
Further, the Maryland Department of Labor’s COVID-19 Layoff Aversion Fund was introduced to offer financial assistance to small businesses. As a result, the program distributed more than $10 million to 445 small businesses, thus saving nearly 8,800 jobs.
Small Business Grant program: In the final round of its small businesses support, $4.8 million in the form of grants was distributed to 108 more businesses. Thus 15,112 state’s hardest hit businesses by the Covid-19 pandemic have received direct cash payments amounting to $687 million.
Approximately 43% of the grants was awarded to minority-owned businesses, 46% to women-owned businesses operating in sectors hardest hit by the pandemic, while $224 million of the distributed funds went to restaurants and bars.
Support for Small Business: Michigan Economic Development Corporation (MEDC) announced 23 economic relief programs to provide $240 million support across the 83 Michigan counties. 75% of the support was given to retailers, bars, restaurants, and other small businesses in the service industry.
Covid-19 Business Relief Payments: The state’s Department of Revenue distributed financial aid to bars, gyms, and bowling centers. The eligible business owners received payments by mail.
Minnesota Convention Center Relief Grant program: Eligible convention centers operating in Minnesota were awarded grants of up to $500,000. However, these businesses have to apply for these grants.
Minnesota Movie Theater Relief Grant Program: Movie theaters operating in Minnesota were allocated up to $150,000.
Back to Business Mississippi Grant program: Small businesses with less than 50 full-time employees were awarded up to $25,000.
Businesses Pivoting Operations toward Covid-19’s Needs: The state announced a $50 million grant to support Missouri businesses, whereby $30 million was allocated to small businesses and family-owned farms. The grant was created to reimburse them business interruption costs because of Covid-19, and they can use the funds to take care of their facility redesign and labor, e-commerce website design, air filtration systems, worker salaries during the reduced hours or closure as well as other necessary expenses to make the firm more resilient and more.
Additionally, Missouri announced a PPE Retooling Grant Program worth $20 million to help businesses manufacture PPE in the state as part of the Show Me Strong Recovery Plan.
State-supported loan Programs: A new Montana Working Capital Program was announced to build off the Montana Loan Deferment program to provide businesses a new loan for rent or lease, payroll, employee benefits, insurance, utilities, and inventory. 35% of the Loan Deferment Program is granted via CRF, and new borrowers can apply for it through approved lenders
On-Demand Workers: The state opened a Small Business Stabilization grant program which is offered through the Department of Economic Development (DED). Initially, the program projected that it would award $12,000 to each of more than 14,000 applications in its first round, but it received fewer requests.
Today businesses with 1-75 employees withheld state income taxes and have suffered revenue loss due to Covid-19 are eligible. The program was allocated $392 million of CRF.
Pandemic Emergency Technical Support grant: The Governor signed legislation to protect the business community and workers during the pandemic and other economic crises. A new Pandemic Emergency Technical Support grant program of $20 million in CRF was established to protect small businesses, arts and culture organizations, nonprofits, and local chambers of commerce.
The funds were to be administered by the Governor’s Office of Economic Development, State Treasurer’s Office, and Department of Business and Industry. To be eligible, businesses must put measures in place to protect their hard-working Nevadans, customers, and visitors, all driving the state’s economy.
Businesses and Nonprofits Organization: General Assistance and Preservation Fund received $30 million of CRF-flex funds to provide emergency financial relief to nonprofits and businesses affected by the Covid-19 pandemic. These are also businesses that not also not able to access any other form of financing through local, state, and federal programs.
Small Business Funding via CRF: The state’s Economic Development Authority (NJEDA) and Governor Phil Murphy rolled out several phases of small businesses assistance during the Covid-19 pandemic. Through NJEDA’s Small Business Emergency Assistance Grant Program phase 1, small businesses were offered $100 million in phase 2, the Governor offered $15 million, and an additional $100 million in phase 3.
Small businesses such as restaurants and microbusinesses were allocated $70 million, while $10 million was set aside for small companies purchasing personal protective equipment using NJEDA. Also, 33% of the funding sources will go to entities operating in Opportunity Zone census tracts.
Specific Business Sectors State Funding: An outdoor recreation business alliance was launched to support New Mexico’s outdoor recreation economy. The endeavOR New Mexico is a new nonprofit alliance that was founded to expand the state’s outdoor recreation community because the sector is important to its economy.
State Support for Local Community Economic Development Strategies Supporting Small Businesses: The local and tribal governments received $178 million of CRF whereby cities and counties received $150 million, and tribal governments got $28 million. The funds were allocated for the development of grant programs that would support small businesses affected by Covid-19 and childcare options for parents whose children were at home because of health emergencies.
Additionally, the 2020 Small Business Recovery Act allocates $400 million to the Small Business Recovery Loan Fund from the New Mexico State Severance Tax Fund to support nonprofits and businesses experiencing financial hardship as a result of the health order stemming from the pandemic.
Small Business Recovery Grant Program: The state created the Covid-19 Pandemic Small Business Recovery Grant Program of $800 million to offer flexible grant assistance to businesses that have experienced hardship as a result of the Covid-19 pandemic. These include microbusinesses, small businesses, independent arts, and cultural organizations.
The funds under this program are for paying payroll costs, utility costs, insurance costs, PPE costs, HVAC costs, lease or rent payments, etc.
Restaurant Return-to-work Tax Credit Program of $35 million was established to support small, independently owned establishments within New York City or areas outside it that are designated as Orange or Red zone by the NYS Department of Health. Any eligible business will get a tax credit of $5,000 for every new worker hired and up to $50,000 per business.
New York City Musical and Theatrical Production Tax Credit amounting to $100 million was launched to jump-start the entertainment industry as well as support the city’s tourism. Therefore, the program is geared towards offsetting part of the costs linked to producing a show in the city as its economy recovers from the effects of the negative effects pandemic.
Specific Populations to Promote Inclusivity and Equity: RETOOLNC is a new grant program that the state’s Department of Administration launched to support minority and women-owned businesses that were hardest hit by the pandemic. So the $12 million grant will assist disadvantaged Business Enterprise firms and Historically Underutilized Businesses in North Carolina to weather the crisis.
State-supported loan Programs: In partnership with Governor Doug Burgum, the North Dakota Industrial Commission approved an interest buydown program totaling $50 million. The program targets businesses with decreased revenue due to the coronavirus pandemic and will be distributed through the Bank of North Dakota. The CRF assigned to the bank will fund the COVID PACE Recovery II Program.
Therefore small businesses owners in North Dakota can access up to $50,000 through their local lender, and the largest share will go to the companies with the largest percentage decrease in revenue.
State Grants to Promote Consumer Confidence and Marketplace Resilience: The Department of Ecommerce launched the following three grants:
Economic Resiliency Grant (ERG): The goal of this program was to help restore consumer confidence in the marketplace and, at the same time, reduce the spread of coronavirus. More than 2,000 applicants were awarded $38.7 million.
Hospitality Economic Resiliency Grant (HERG): the grant was developed to cover basic operational costs for establishments in the hospital sector. In the first round, 966 applicants were awarded $23.7 million, while 316 in round 2 were allocated $4.5 million.
Hospitality ERG PLUS: The grant targeted businesses in the lodging sector. In the first round, 197 applicants have been awarded $8.4 million, while 40 applicants in round 2 will be given $899,000.
Small Business Relief Office Grants: The Ohio Development Services Agency targets businesses hit hardest by the Covid-19 pandemic with its four grant programs. Food and Beverage, Lodging, Entertainment Venue will receive grants in amounts of $10,000, &20,000 or $30,000, while New Small Business Grant will offer $10,000 to small businesses established between January 1, 2000, and December 31, 2020.
The Bar and Restaurant Assistance Fund: The program was allocated $37.5 million from what was received from the federal CARES Act to target on-premise liquor permit holders. These holders will receive $2,500 assistance payments to help them through the crises created by the Covid-19 pandemic. The Ohio Development Services Agency will administer these funds.
Oklahoma City’s Relief Assistance Program: The program awarded up to $100,000 in the form of grants to small businesses with less than 100 employees and nonprofits as well.
Small Businesses and Nonprofits Fund: $15 million in federal coronavirus relief funds was allocated to small businesses and nonprofits hardest hit by the Covid-19 pandemic. The program was administered by Oklahoma Industries Authority and modeled like Oklahoma’s City Relief Assistance Program.
Oregon City Business Debt Relief Initiative: The program was launched to support small businesses disrupted by the pandemic. The grant award was $2,500 and was available to nonprofits organizations and small businesses with 1-5 employees, including the founder.
Commercial Rent Relief for Tenants and Landlords: Businesses Oregon was allocated $100 million to provide financial support to commercial landlords and small businesses hardest hit by the Covid-19 pandemic. The payment covers outstanding lease payments that small businesses tenants have due to revenue loss as a result of the pandemic. The grant is not more than $100,000 per business tenant lease and up to $3 million for each landlord.
Others are grants for artists, FedEx Small Business Grant Contest, Oregon Arts Access Reimbursement, and Google AdWords Grants.
Liquor License Fees Waiver: The state announced financial relief to bars and restaurants that were hit hardest during the Covid-19 public health crisis. The contagious nature of the pandemic made it dangerous to have a full capacity indoor gathering, but small established in Pennsylvania were determined to follow safety precautions, invest in new supplies and procedures in order to keep their customers and customers safe.
So eliminating liquor license fees would help nearly 16,000 bars, clubs, catering clubs, hotels, and restaurants, retain some capital amounting to $20 million to help them weather the Covid-19 storm.
Additionally, the Governor proposed an additional $225 million in CARES Act funding to be issued in the form of grants and forgivable loans to small businesses operating in the state. These funds would be administered through the Covid-19 Relief Statewide Small Business Assistance Program.
Another $100 million to be awarded to hospitality, leisure, and service industries, including businesses such as salons and barber shops, bars, and restaurants in the form of forgivable loans and grants.
R.I. Small Businesses Relief Grant Program: The state’s small businesses that have suffered financially as a result of the Covid-19 pandemic will be awarded $5,000 to help them pay salaries/wages, thus avoiding layoffs and furloughs, operational costs as well as facilitate their reopening.
Verizon Small Business Recovery Fund: Entrepreneurs of color, women, and other enterprises operating in historically underserved communities and can’t access affordable, flexible capital can apply for this fund. Such businesses will receive up to $10,000 to help them urgently fill their financial gaps until more permanent financing solutions are available or they resume normal operations.
Covid Small Business Relief Loans and Grants: South Carolina small businesses were awarded forgivable loans available under the Paycheck Protection program to cover their employees’ payroll and day-to-day operations. The state didn’t have any state-regulated grants and loans targeting small businesses and nonprofits.
Small Business Stabilization Forgivable (SBSF) Loan Program: The City of Columbia established its forgivable loan program to support small businesses struggling to keep their doors open or access capital during the Covid-19 pandemic. Thus, the small business community will access SBSF loans at zero interest and up to $10,000 to help them mitigate losses caused by the pandemic.
South Dakota Small Businesses and Nonprofits Grant: $345 million will be distributed to small businesses, nonprofits, and healthcare providers hardest hit by the Covid-19 pandemic. This additional fund will ensure these economic engines continue to thrive as the $195 million grant will compensate for the reduced cash flow.
Eligible healthcare providers will be awarded $150 million to cover lost revenue and expenses, while skilled nursing facilities, nursing homes, and hospitals will get $75 million.
Specific Populations to Promote Inclusivity and Equity: The Tennessee Financial Stimulus Accountability Group and Governor Bill Lee allocated $50 million in CRF to the new Supplemental Employer Recovery Grant program, which targets small businesses such as women-owned, minority-owned, disabled persons-owned businesses, and veteran-owned businesses. The aim of the funds is to provide additional relief to cushion them from the Covid-19 pandemic’s negative effects.
Supplemental Employer Recovery Grant program (SERG): $50 million in federal Coronavirus Relief Funds will be distributed by the Tennessee Department of Revenue (TDOR) to eligible small businesses to cover their direct expenses and costs caused by the Covid-19 disruptions.
South Opportunity and Resilience (SOAR) Fund: The new program targets small businesses and nonprofits hardest hit by the Covid-19 pandemic. The SOAR fund was created by private investors, corporate investors, and philanthropic to support small businesses owned by women, immigrants, people of color, and operating in rural areas.
These businesses and nonprofits will get up to $100,000 or 100% of their revenues for any three months before the Covid-19 pandemic.
Hello Alice Covid-19 Grant: The Covid-19 Business for All Emergency Grant offers $10,000 in the form of grants to small businesses affected by the Covid-19 pandemic. Further, the Hello Alice community will offer the affected businesses ongoing support.
Quarantined Employees in Small Businesses: The Small Business Quarantined Employee Grant of $2 million was created using CRF to support small businesses experiencing payroll issues due to the pandemic. So companies with 50 employees or less can use the grant funds on employee reimbursement for those who tested positive for Covid-19 and had to quarantine/isolate. It was also to be spent on employees who had confirmed exposure and asked to quarantine/isolate.
As a result, employers could use the funds to pay such employees who stayed at home due to the infection or exposure for up to 40 hours per week and up to two calendar weeks.
Paycheck protection Program PPP 2.0: The second round of forgivable loans for small businesses, nonprofits, and venues hardest hit by the Covid-19 pandemic received an allocation from the $325 billion aid package of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act. Eligible Utah small businesses were required to submit financial documentation and proof of revenue loss.
Cash Grants Based on Losses Estimated from Earlier Business Tax Returns: Vermont Agency of Commerce and Community Development, in partnership with the Department of Tax, established the Economic Recovery Grant Program, which uses CRF to offer direct cash grants to small businesses that have lost revenue as a result of the Covid-19 Pandemic.
The first $50 million was to be distributed to businesses that pay sales and use taxes, rooms, and meals. Another $20 million was allocated to private businesses and nonprofits. These grants are administered on a first-come, first-served basis.
Employees Working in Hazardous Industries: The state expanded the hazard pay grants and issued the second phase of the Frontline Employee Hazard Pay Grant Program as passed by the Vermont legislature. The expanded program increased the scope of eligible employers and employees who no longer work for an eligible business but were still employed by them during the worst of the pandemic. These include sectors like grocery stores, pharmacies, and some retail.
The second phase received an extra $22.5 million and is administered by the Department of Financial Regulation in partnership with the Agency of Human Services.
Specific Populations to Promote Inclusivity and Equity: The state’s Department of Small Business and Supplier Diversity (SBSD) administers the $70 million economic recovery fund or Rebuild VA to nonprofits and small businesses. The initiative’s objective is to foster equity, inclusion, and diversity in economically disadvantaged and low-income communities.
The Return to Earn Grant Program of $3 million was allocated to support Virginians planning to get back to employment. This is because the majority of unemployed Virginians are experiencing various barriers such as transportation, childcare, and more which are hindering them from returning to the workforce while small businesses are facing a shortage of workforce. So the $500 paid to a new employee will support their transition back to employment and alleviate the shortage of employees.
The Virginia 30 Day Fund was established to support Virginia-based small businesses which are experiencing a near-fatal cash crunch. So the forgivable loan will offer immediate financial assistance to preserve healthcare coverage for companies’ employees, meet payroll, as well as save jobs as they await federal funding.
Rebuild! V.A. Economic Recovery Fund targets nonprofits and small businesses affected by the Covid-19 pandemic. So more than 3,000 small businesses and nonprofits will receive $120 million in funding as well as an additional $25 million approved by the Governor and the General Assembly in March 2021.
The state distributed nearly $365 million in federal funds as Covid-19 response and relief efforts. Seven states were used to administer $13.5 million from the Federal Emergency Management Agency and the $351 million in federal CARS Act funding.
$163 million was distributed by the State Department of Commerce to small businesses and nonprofits hardest hit by the worst pandemic. These funds were distributed as follows:
Rent assistance to low-income renters: $100 million to avert the risk of homelessness. Funds were paid directly to landlords.
Data-driven recovery plans: $20 million to support local economic development organizations assisting small businesses as well as data-driven recovery plans by industry and region.
Nonprofits: $20 was allocated to support nonprofits addressing disparities and inequalities caused by decreased funding and increased need as a result of Covid-19. These included various community and youth development programs.
Tribal support: $20 million to support Tribes’ pandemic recovery-related efforts.
Aside from these funds, Washington sent the Department of Health $45 million to boost its Covid-19 emergency response efforts. Further, the funds were also used in testing and contact tracing activities around Yakima.
The Department of Children, Youth, and Families received $61 to assist child care providers as well as families supported by Working Connections Child Care program.
The Department of Agriculture was sent $24 million to support the state’s Emergency Food Assistance Program as it faces increased demands.
The University of Washington received $24 million to support its testing efforts as well as reimburse the university medicine’s public health response to the crisis caused by the Covid-19 pandemic.
Small Business Grant Program: The state allocated $150 million to West Virginia-based small businesses from the CARES Act funding. These businesses will receive $5,000 in grant funding and must have been in existence on and before February 29, 2020, and have 1-35 employees.
Specific Business Sectors State Funding: More than $1 million was awarded to ensure the fairs and festivals’ survival across the state. Still, 64 additional grants amounting to $1,144,010 were released from the Governor Jim Justice Contingency Fund to support businesses that host fairs and festivals, and their events were canceled as a result of the Covid-19 pandemic.
The Wisconsin Tomorrow Small Business Recovery Grant Program: This program awarded $420 million to Wisconsin small businesses hardest hit by the Covid-19 pandemic. Further, the program funds were received from the federal government through the American Rescue Plan Act and both the Wisconsin Department of Revenue (DOR) and Wisconsin Economic Development Corporation (WEDC) to businesses that started operating on or before December 31, 2020, and suffered economic loss due to Covid-19 pandemic.
Wisconsin Tourism and Entertainment Businesses Grant: Businesses like movie theaters, live event venues, minor league sports, summer camps, and the lodging industry will receive $140 million in grants. Out of this, $75 million will be allocated toward lodging grants, $15 million toward destination marketing organizations, $12 million for live event small businesses, $11.25 million toward movie theaters, $10 million toward live venues, $8 million toward summer camps, $7.5 million toward increasing market support for Wisconsin’s tourism industry, $2.8 million toward minor league sports teams, and $1 million toward the Wisconsin Historical Society to support the reopening historical sites.
The $140 million in grants will be obtained from the American Rescue Plan Act of 2021 and distributed through the Department of Revenue and the Department of Administration.
Small Business Funding via CRF: State legislature created the Business Interruption Stipend Program during a special session and allocated $100 million in CRF and $7 million to purchase PPE for the state government and businesses. Wyoming Business Council is the state’s economic development agency responsible for the business relief program.
Coronavirus Mitigation Fund: The legislature created a $50 million grant fund to reimburse businesses for the expenses incurred for purchasing, cleaning products, PPE, sanitizers, and other safety equipment as well for hiring employees to implement protocols related to screening, cleaning, sanitizing, security and safety in addition to the training needed to implement the Covid-19 protocols.
Coronavirus Business Relief Stipend: The grant program was allocated $300,000 to support independent Wyoming businesses with less than 100 employees and hit hardest by public health orders.
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