Funding Resources for Small Businesses

This week, I joined the She Dares Collective Zoom call to talk about the Freelancer’s Union Relief Fund. During the call, I found out about some amazing resources for small business funding related to COVID-19 and beyond.

Here is a brief list of grant and loan resources that I’ve pulled together from my networks. As someone on the call wisely mentioned - don’t apply for a loan that isn’t hosted on a legitimate .gov or .edu website (and the occasional .org). There are COVID-19 scams out there, and as we know scammers prey on the vulnerable.

Becky’s Top 4 COVID-19 Business Resources:

Women’s Business Enterprise National Council (WBENC) - https://www.wbenc.org/covid19

  • This page is INSANELY helpful. You’ll find resources for loans, grants, and even discounts and free trials on products like Microsoft 365!

Ensemble Coworking: https://www.ensemblecoworking.com/smbfunding

  • I would be lost without this site. You’ll find information on the PPP or CARES Act, COVID EIDL, Small Business Disaster Relief, and grants available in the State of Texas.

Freelancer’s Union: https://www.freelancersunion.org/resources/freelancers-relief-fund/

  • You’ll find information about the Freelancer’s Relief Fund, which gives eligible freelancers $1000 to cover lost income and essential expenses not covered by government relief programs.

Small Business Association

  • SBA Disaster Loans and Grants:  $10 billion in funding for SBA Economic Injury Disaster Loans (EIDL), with emergency grants of up to $10,000 to provide immediate relief for small business operating costs.

  • Paycheck Protection Program: $350 billion loan program for small businesses and nonprofits to maintain existing workforce and help pay for other expenses like rent, mortgage, and utilities.

  • Debt Relief for existing SBA loans: $17 billion for the Small Business Administration (SBA) to cover 6 months of payments for small businesses with existing SBA loans, including 7(a), Community Advantage, 504, and Microloan programs.

You should check out the SBA, but I would recommend doing so via the Ensemble Coworking link above. The site is much easier to understand and offers tips to navigate the application process.