FUNDING YOUR BUSINESS
Small-business grants provide free money for startups and existing businesses, although it may take some time and effort to research options and apply for relief.
The good news is a growing number of grants and free resources are available to small businesses, including relief for businesses impacted by the coronavirus pandemic.
Here’s a list of federal, state and privately funded business grants and resources for small businesses.
Amazon Neighborhood Small Business Relief Fund: Amazon has created a $5 million relief fund to provide grants to support neighborhood small businesses in Seattle (South Lake Union and Regrade neighborhoods) and Bellevue, Washington.
To be eligible, your business must be a service or retail establishment, and have fewer than 50 employees or less than $7 million in annual revenue.
Economic Injury Disaster Loans: The SBA provides EIDL advances of up to $10,000 for businesses experiencing a loss of revenue due to the coronavirus crisis. The advance works more like a grant than a loan, as it does not need to be repaid.
Verizon Small Business Recovery Fund: The Local Initiatives Support Corporation is offering grants to support businesses in underserved communities. Verizon is supporting the recovery fund by donating $7.5 million worth of small-business grants.