Most people thing the SBA (Small Business Association) gives gives money (grants) to small businesses — they don’t...normally. The SBA “guarantees” business loans through approved lenders, at (usually) around a 3% interest rate.

Right now, due to the pandemic, they DO have a couple of programs where they’re providing grant funding for which some small businesses might qualify.

Please note, however, that in order to find out more information about these SBA loans, you must speak to one of the local, SBA-approved lenders in your area. The lender will discuss any options available to you, and help you determine the best one that provides for your needs. Nothing is formalized until you decide you want to proceed, so it would make sense to discuss your options with a lender!

The 504 loan program is designed to foster economic development and job creation and/or retention. The eligible use of proceeds is limited to the acquisition or eligible refinance of fixed assets.

The SBA Microloan program was designed to provide loans through nonprofit lending organizations to underserved markets. Authorized use of loan proceeds includes working capital, supplies, machinery & equipment, and fixtures (does not include real estate). The maximum loan amount is $50,000 with the average loan size of $14,000.

Go here to find a matching lender: SBA Matching Lenders.

The Opportunity Fund is committed to supporting small businesses who are financially struggling amidst the COVID-19 outbreak. If you are a small business owner whose business has been impacted, you can contact them directly and request assistance.

From the Opportunity Fund: Please keep in mind that our ability to provide financial assistance is based on eligibility guidelines and funding availability. Day by day, we are working with partners, investors, and the government to secure additional funds so that we can support more business owners during this time.

To request assistance, please complete and submit a COVID-19 Assistance Request Form

From The Workers Fund from The Workers Lab: "This program is a rapid response to the COVID-19 pandemic from The Workers Lab. Our previous and ongoing innovation to support gig and low-earning contract workers puts us in a unique position to help. We can get cash to people whose livelihoods have been stripped away by COVID-19 through Canary, a project incubated by The Workers Lab that provides a vehicle for getting cash to verified applicants quickly. We will work initially through an established partnership with Steady to identify recipients. We will finalize additional partners to expand our universe of recipients in the weeks ahead.

Support for people who need help now.
Gig and low-earning contract workers are seeing their livelihoods destroyed as the COVID-19 virus rapidly shuts down our economy. Workers without access to employer-based benefits are especially vulnerable. They’re in dire need of immediate cash for basic necessities; shelter, food, medicine, transportation, etc.

The Workers Fund is ready to accept donations and distribute aid immediately. If you have any questions about accessing the funds, send an email to This email address is being protected from spambots. You need JavaScript enabled to view it...

Freelancers Union's fund to support freelancers impacted by COVID-19

As shutdowns to contain the spread of the coronavirus take place across the U.S., independent workers face the greatest threat to their livelihoods in modern history. Freelancers work without traditional protections such as paid sick leave and unemployment insurance, and are at a disproportionate risk of financial hardship in the best of times. At the same time, they make up one-third of the U.S. workforce, and contribute more than $1 trillion to the country's GDP.

While we work toward securing government aid, freelancers' bills are coming due now. Rent must be paid, groceries, utilities — for those who live gig-to-gig, these necessities are at risk. 

The Freelancers Relief Fund will offer financial assistance of up to $1,000 per freelance household to cover lost income and essential expenses not covered by government relief programs, including:

• Food/food supplies
• Utility payments
• Cash assistance to cover income loss
• 100% of all donations will be distributed directly to freelancers in need.

Click on the link above to find out if you qualify!

Business for All: Join the Movement to Lift up Thousands of Small Business Owners.

Business for All is offering grants up to $50,000 to support business growth, including $10,000 emergency COVID-19 Business for All Grants to help small businesses in crisis.

Additionally, you can join leaders such as Gwyneth Paltrow, Kristen Bell, Lisa Price, Armando Christian "Pitbull" Perez, and Jeff Hoffman to empower every American with an entrepreneurial spirit.

The way it works: Incredible leaders and business experts from across industries will be supporting each Business for All Grant winner through video mentorship sessions. Plus, any business owner in the Business for All Community on helloalice.com can collaborate with their peers, any day of the week.