COVID-19 Corporate Funds for Small Business

The Paycheck Protection Program may have run dry for now, but fortunately, federal, state and local governments aren't the only entities offering funding and financial relief to small businesses. Corporations and private foundations have also stepped up, with money and other sorts of financial aid. The trick is to find programs that are the right fit--and that are still accepting applications. As of this writing, these corporate relief programs are offering small business grants ranging from $500 to $100,000.

Council of Fashion Designers of America A Common Thread

Fashion-industry firms facing severe Covid-19-related financial hardship can seek help from A Common Thread, a reboot of the CDFA/Vogue Fashion Fund created after 9/11. Grants of up to $100,000 are available to businesses with no more than 30 employees and less than $10 million in revenue. A second round of applications runs from April 20 to May 3. Michael Kors and Ralph Lauren are among the fund's donors.

Facebook Small Business Grants Program

Hit "like." Facebook has committed $100 million in cash grants and ad credits for up to 30,000 small businesses around the world. Eligibility is open to for-profit enterprises that have been in business for over a year with two to 50 employees. The fund will accept applications in 28 U.S. locations after April 22; overseas availability will be announced "in the coming weeks."

GoFundMe Small Business Relief Fund

GoFundMe and a contingent of companies, including Intuit QuickBooks, GoDaddy and others, have created the Small Business Relief Fund on the GoFundMe model for small businesses reeling from Covid-19. Qualifying businesses that raise at least $500 on GoFundMe are eligible for a $500 matching grant from the fund. Businesses must be independently owned and operated, and the money must be used to help care for employees or pay ongoing business expenses.

Google Ads Credits

Want one less bill to pay? Small and medium size businesses that have advertised with Google since the beginning of 2019 qualify for Google Ads credits thanks to a $340 million allocation by the company. Google is extending the credits in an effort to trim the cost of reaching customers at this challenging time. Qualifying businesses will be informed directly by Google in the coming months through their Google Ads accounts. Credits will expire December 31, 2020.

Hello Alice Covid-19 Business For All Emergency Grants

Hello Alice, an advocacy and fundraising platform for female, minority, immigrant and veteran entrepreneurs, is offering emergency grants of up to $10,000 to small business owners impacted by the pandemic. The four-year-old company has also set up a Covid-19 Business Resource Center offering additional financial support and resources with aid from Verizon, Silicon Valley Bank, and eBay among others.

Red Backpack Fund

Female entrepreneurs with businesses impacted by Covid-19 can apply for grants of $5,000 offered by the Red Backpack Fund. Fueled by a $5 million donation from The Spanx by Sara Blakely Foundation, the fund will bankroll 1,000 grants. The foundation, created by the founder of Spanx women's shaping underwear, has teamed with GlobalGiving to oversee the fund. Besides the financial infusion, each woman will receive a red backpack, a wink at the red college backpack Blakely carried everywhere when she started Spanx. Future application rounds open May 4, June 1, July 6, and Aug. 3.

Salesforce Care Small Business Grants

Salesforce is committing $5 million to helping companies that are at least two years old and have annual revenue between $250K and $2M with their Salesforce Care Small Business Grants program; the one-week application window opens on Apr. 24 or Apr. 27, depending on the state. Grants of $10,000 will be awarded to small businesses to help pay salaries, purchase supplies and adjust to the new realities of the business landscape. In addition, the company is providing free access to Salesforce Essentials to help small business engage and support customers remotely.

Save Small Business Fund

The U.S Chamber of Congress Foundation has teamed with Vistaprint and several other corporations to create the Save Small Business Fund to provide $5,000 grants to companies struggling due to Covid-19. Qualifying businesses must have between 3 and 20 employees and be located in an economically vulnerable community (a zip code tracker lets businesses know instantly if their area qualifies). Applications open April 20. Grants are awarded on a weekly basis.

Verizon Small Business Recovery Fund

Verizon has allocated $2.5 million to the Local Initiatives Support Corporation (LISC) to provide stopgap grants of up to $10,000 to small companies, especially for entrepreneurs of color, women-owned businesses and other enterprises in historically under-served areas. The second round of grant applications for the Verizon Small Business Recovery Fund opens in mid-April. A portion of the funds will be released through Verizon's new "Pay It Forward" online concert series.

Yelp

Acknowledging local businesses as its lifeblood, Yelp has earmarked $25 million in relief to independent local restaurant and nightlife enterprises in the form of waived advertising fees and free advertising, products and services. Businesses and franchisees in the U.S., Canada, the U.S. Virgin Islands and Puerto Rico with fewer than five locations are eligible. The offer takes different forms depending on whether or not the business has an ad campaign with Yelp.