Across the United States, small businesses that form the economic backbone of our communities now face immediate – and oftentimes, crushing – financial pressure because of the COVID-19 pandemic. Many small businesses that were forced to shut down temporarily now are at serious risk of never reopening. Even those small businesses that can still operate remotely face major revenue shortfalls. With little or no reserves to pay their expenses, many will have no choice but to lay off workers and close their doors forever.
Thanks to a significant grant from Lowe’s, LISC will provide the emergency assistance that small businesses desperately need to stay afloat. We will deploy grants to help them bridge the financial gap, and provide guidance to help them navigate the intricate web of public and private resources now available. LISC will focus these efforts on historically underserved communities—especially those enterprises owned or led by minorities and women, who often lack access to affordable capital.
Grants to small business owners to help meet their most immediate needs. Eligible expenses include:
All applicants will be linked to a customized, state-by-state resource guide on how to navigate federal, state and local assistance programs and private financing as well as resources available through LISC and our network of local and national small business support organizations.
We will support small businesses and enterprises affected by the COVID-19 pandemic across the country, especially those businesses in underserved communities owned and led by minorities and women – all groups who 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.