Government Grant Program for Small Businesses Impacted by COVID-19

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2020 is proving to be quite an eventful year. Not even halfway through, and almost half the world experienced the surprise brought on by a pandemic, known as COVID-19. Countries were placed on lockdown as citizens’ health was endangered and life came to a halt as schools, offices, and businesses were temporarily shut down. 

As life slowly eases into what is called a “new normal,” plenty of businesses – both big and small – felt the impact of the pandemic and as everyone tries to recoup their losses, it is good to know that there are US government grants available to give a helping hand. 

The US Small Business Administration has opened up applications for Economic Injury Disaster Loan and Advance, on a first-come-first-served basis, so check the SBA website for requirements and eligibility. Some of the grants available involve assistance for businesses that primarily export their products overseas or those that involve international trade who wish to expand their market or bring back operations to the US. 

Aside from the SBA, US government grants are also opened up by local Chambers of Commerce to aid small businesses impacted by the pandemic. Visit your local Chamber of Commerce as government assistance programs are regularly updated and announced daily. 

US government grants programs are also opened on a state level, with different requirements and eligibility for every state. Most states have opened up emergency funding for small businesses, some amounting to $50,000 or $75,000, and some range from $5,000 to $20,000. Because the pandemic affected almost all industries, US government grants applications are open across a wide range of demographics, such as for women business owners, those in the hospitality industry, self-employed individuals, or independent contractors. Other grants are available to help assist in paying salaries for employees to avoid lay-offs or provide assistance in paying for rentals and other operating expenses. 

In most cities, loans and grants are set up solely for businesses affected by the pandemic within the area, but with very specific requirements for eligibility. Visit your city’s local government agencies to inquire about the applications and to see if your small business is qualified. 

More and more governors are signing bills that will provide US government grants to small businesses who took a toll during this pandemic, to help the local and national economy as well. Because of the “new normal,” businesses have to make further adjustments with employees, work hours, and health and safety protocols, which might come at an extra cost to some, and others also have to cut down on the allowable number of guests, clients, or customers at any given time. If you are a small business owner needing financial assistance, check on your local Chamber of Commerce for available loans or grants. You can also check on the state’s available grants as well as the federal government’s available programs for small business owners. As the world continues to battle the virus, business owners also need to recover and bounce back for the economy to stabilize once again. Please visit here for more details: https://www.newusagrants.com/federal-grants 

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