Need emergency funds for your business?: Here’s a list of sources

Reading Time: 2 minutes

(Courtesy of the Delaware Division of Small Business)

As of April 4.

The federal CARES Act includes a $350 billion Paycheck Protection Program that provides forgivable loans for small businesses that keep workers employed. It also covers independent contractors and self-employed individuals. The program starts accepting applications from small businesses on April 3. Independent contractors and self-employed individuals can begin applying on April 10.

Click here for more information.

Click here for an application.

The federal CARES Act includes an Employee Retention Tax Credit for businesses that are closed, partially closed or experiencing significant revenue losses.

Click here for more information.

Local Initiative Support Corporate is offering grants of up to $10,000 thanks to a $2.5 million donation by Verizon. The grants are especially for entrepreneurs of color, women-owned businesses and businesses in underserved communities that don’t have access to affordable capital.

Applications for the first round of grants are due by 11:59 p.m. on April 4. There will be a second round.

Click here for an application.

The state of Delaware Hospitality Emergency Loan Program provides no-interest loans of up to $10,000 per month for businesses in specific segments of the hospitality industry, including restaurants and bars. The program is limited to businesses in certain NAICS Codes.

Click here for more information.

The U.S. Small Business Administration provides low-interest loans of up to $2 million for small businesses and nonprofits regardless of industry.

Click here for more information.

FINANTA, a Philadelphia-based nonprofit that serves Delaware, is offering emergency loans from $5,000 to $15,000.

For more information, contact FINANTA at (267) 236-7030 (English) or (267) 236-7019 (Spanish).

Click here for the FINANTA website.

Facebook plans to roll out the Facebook Small Business Grants program.

The company will provide $100 million in cash grants and ad credits for up to 30,000 eligible small businesses in the 30 countries in which Facebook operates.

Facebook says it will release details and begin taking applications in the coming weeks.

Any questions? Click here for contact information for the Division of Small Business

Facebook Comments