Small businesses across the country, the backbone of our nation's economy, are facing potentially devastating economic pressure as a result of the Covid-19 pandemic. Many have already been forced to shut temporarily, and even those operating remotely still face major revenue shortfalls. With few or no reserves to pay their expenses, many will have no choice but to lay off workers and close their doors forever.
Financial assistance at this critical time can make the difference between staying in business or closing permanently, leading to lost income and jobs and economic instability.
Thanks to support from a variety of funders, we are providing grants to small businesses, to help them keep functioning and remain vital facets of their local economies through this challenging period. We are in the fourth round of accepting grant applications, which is made possible with the generous support of Lowe's, Synchrony and Truist.
We will support small businesses and enterprises affected the Covid-19 across the country, especially those in underserved communities, including entrepreneurs of color, women- and veteran-owned businesses that often lack access to flexible, affordable capital.
Applications will be reviewed based on criteria designed to prioritize particularly challenged businesses, and the final grantees will be randomly selected from the top scoring applicants.
If you are a nonprofit organization, we have compiled a guide of resources available nationally and locally.