Relief Resources for Small Business

Begin your PPP loan application through Lendio to be matched with a PPP lender. Lendio is not a lender, and an application submitted through Lendio does not guarantee you will receive a PPP loan or be matched to a lender. We will accept applications throughout the program or until allocated funds for the program have been exhausted.

In the face of economic hardship and disasters like the coronavirus (COVID-19) pandemic, it’s understandable for small business owners to experience a bit of uncertainty. Fortunately, all levels of government, as well as companies like Lendio, are hard at work assisting those in need. 

At Lendio, we’re here to help small businesses strengthen their financial safety net through our network of 75+ lenders. Our funding managers work tirelessly as advocates in securing SBA loans, lines of credit, and everything in between. Our teams are here to offer assistance every step of the way, but we’re not the only ones!

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National Business Assistance Programs

SBA Coronavirus (COVID-19) Loans

The US Small Business Administration (SBA) offers low-interest loans to support small businesses in the form of Economic Injury and Disaster Loans (EIDL), the Emergency Economic Injury Grant (EEIG), and the Paycheck Protection Program (PPP) Loans, which were created through the CARES Act.

Federal Income Tax Filing and Payment Deadline Extension

The IRS extended the federal tax filing deadline to July 15, 2020. Payments of up to $10 million were also extended until July 15, 2020, for both individuals and businesses. You can check with your state tax agency for information to see if your state tax deadlines were extended as well.

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State and Local Assistance Programs

In addition to national resources, small business owners have access to support on a state, regional, and even city level.

California

Los Angeles Small Business Emergency Microloan Program

Los Angeles businesses that provide low-income jobs can apply for a microloan between $5,000 and $20,000 through the Los Angeles Small Business Emergency Microloan Program. Loans have a 0% interest rate for terms between 6 months and 1 year. 5-year loans have an interest rate of 3–5%.

Colorado

Denver Small Business Emergency Relief

Denver Small Business Emergency Relief offers cash grants up to $7,500 to businesses in industries affected by the coronavirus outbreak, including restaurants, retail shops, barbershops, and nail salons.

Florida

Floridian small business owners experiencing economic damage as a result of COVID-19 can apply for support through the Florida Small Business Emergency Bridge Loan Program. The program is open to small business owners statewide.

Michigan

The state of Michigan offers a combination of grants and loans for small businesses affected by the coronavirus pandemic. You can find more details through the Michigan Economic Development Corporation.

New York

New York City

NYC launched 2 programs to support small business owners through the COVID-19 crisis.

  • NYC Employee Retention Grant Program: Small businesses with fewer than 5 employees can apply for a grant to cover 40% of payroll costs for 2 months to help the small businesses retain employees.
  • NYC Small Business Community Fund: Zero-percent interest loans up to $75,000 have been made available for small businesses with fewer than 100 employees that have seen sales decrease by 25% or more because of COVID-19.

Oregon

Portland

Small businesses in the Jade District and Old Town in Portland can apply for assistance from the Jade District-Old Town COVID-19 Small Business Response Fund. It includes $140,000 for small business grants.

Washington

Small businesses in the state of Washington can find support through a private program sponsored by Amazon and a public initiative.

  • Neighborhood Small Business Relief Fund: Created by Amazon, the program is open to small businesses in Seattle (South Lake Union and Regrade neighborhoods) and Bellevue with fewer than 50 employees or less than $7 million in annual revenue.
  • Seattle Small Business Stabilization Fund: The city of Seattle has committed approximately $2.5 million in grant funds to provide grants of up to $10,000 for qualifying businesses.

Wisconsin

Wisconsin’s Small Business 20/20 program provides grants of up to $20,000 to qualifying Wisconsin-based businesses to help with cash-flow challenges as a result of COVID-19. The grants are to be administered through approved community development financial institutions.

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Big Companies Helping Small Businesses

Facebook

Facebook offers support to small businesses through Facebook Small Business Grants and their Business Resources Hub.

GoFundMe

GoFundMe’s Small Business Relief Initiative aims to support small businesses by centralizing small business fundraisers, making it easier for supporters to find small businesses that need help, making it easy for small businesses to start their own fundraisers and providing matching grants.

  • Help Small Businesses Affected by Coronavirus: Centralized search where all coronavirus-related small business GoFundMe fundraisers are cataloged.
  • Fundraisers: Small businesses can create a GoFundMe fundraiser.
  • Small Business Relief Fund: Through donations from GoFundMe, Yelp, and QuickBooks, the Small Business Relief Fund will be issuing $500 matching grants to qualifying businesses that raise at least $500 on the platform.

Kabbage

Kabbage launched an online hub to help boost sales for small businesses. The site allows anyone in the US to purchase gift certificates from participating small businesses, providing small businesses with the capital they need today. Customers can then redeem the gift cards for remote-based services now or save them for when the crisis has ended.

Kiva

Kiva, a global distributor of microloans, is expanding eligibility for its microloan program in the US to support small businesses affected by COVID-19. In addition to 0% interest on microloans, eligible US applicants for Kiva microloans can qualify for larger loans (up to $15,000) and will enjoy a grace period of up to 6 months.

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Help Specifically for Restaurants

DoorDash

DoorDash offers support programs for both restaurants and their dashers. The merchant program provides a combination of commission relief and marketing support for new and existing DoorDash partner restaurants.

The dasher assistance program provides financial support for dashers who are diagnosed with COVID-19 or put in quarantine by a public health agency and meet a baseline of time on the platform and number of deliveries completed.

GrubHub

GrubHub is supporting local restaurants by deferring commission fees and matching promotions. In addition to these initiatives, the company has created the Community Relief Fund: Donate the Change. Contributions to this fund will go to charitable organizations impacted by the COVID-19 outbreak. Learn more about GrubHub’s COVID Efforts.

Yelp

Yelp is providing $25 million in coronavirus relief in the form of waived fees and free services to local restaurants and nightlife.

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Additional Resources for COVID-19 Relief

A single Google search will tell you how heavily coronavirus impacts society and small businesses daily. Yet, everyone thinks they have the best way to keep your store’s doors open and money flowing in. Rather than offering a single solution, we want to give you all the tools necessary to make the right decision for your small business. Each of these pages has vital information designed to help your business survive in these times of economic hardship—including information about how to find the details you may need when applying for SBA loans.

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General Information

For general information regarding COVID-19, we encourage small business owners to consult the following resources:

Rob F. was fabulous to work with for our PPP app. He was very knowledgeable about the process and made it easy and stress-free. A great resource for my small business & I highly recommend.

– Denise H.

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