10 major companies including Amazon, Facebook, and Salesforce that are offering cash and resources to businesses impacted by the pandemic — and how to apply

worker, labor, jobs, small business, shippingworker, labor, jobs, small business, shipping

Small businesses hit hard by the pandemic can get aid from these big corporations.

Mint Images/Getty


This story is available exclusively on Business Insider Prime.
Join BI Prime and start reading now.

  • More than half of small businesses in the US have temporarily closed their doors, or plan to this month, due to the COVID-19 pandemic.
  • Private organizations, including Amazon and Facebook, are teaming up to offer millions in cash grants and low-interest loans to small business owners.
  • Amazon created a $5 million relief fund to support local businesses around its Seattle and Washington offices. Hello Alice is giving $10,000 emergency cash grants to distressed businesses in the US.
  • Click here for more BI Prime stories.

Organizations across the country are rallying together to support small businesses fighting to survive the COVID-19 quarantine shutdown.

One in four small businesses nationwide have temporarily closed and another 40% expect to this month, according to a recent survey from MetLife and the US Chamber of Commerce. While federal grants and loans are in the works, the exact timing for disbursement remains uncertain. States and cities are also doing their part by reallocating as many funds as they can toward small business assistance, however, most of the programs are quickly getting oversubscribed. 

To help meet the surging demand for relief aid companies, including Facebook, Amazon, Salesforce, and others, are launching funding initiatives of their own.

From micro-grants to ad credits and low-interest loans, here is a list of 10 companies offering financial relief for small business owners, in alphabetical order.

Amazon’s Neighborhood Small Business Relief Fund

FILE - In this April 9, 2020 file photo, employees observe social distancing due to coronavirus, at the entrance of Amazon, in Douai, northern France.A French court has ordered Amazon to stop buying, storing or delivering non-essential goods for the next month to protect its employees from the virus. The emergency ruling Tuesday requires Amazon to evaluate health risks at all its facilities nationwide and negotiate new safety measures with worker representatives, according to lawyers for unions that launched the legal proceedings. (AP Photo/Michel Spingler, File)

Amazon’s fund has $5 million to grant to companies near its offices.



Amazon’s $5 million Neighborhood Small Business Relief Fund offers cash grants to companies near its office buildings. The application is open to retail businesses close to the Bellevue, Regrade, and South Lake Union locations that rely heavily on foot traffic.

Cash amounts are determined on a case-by-case basis. Additional requirements include making less than $7 million in annual revenue and having fewer than 50 employees. 

Qualified businesses can apply online here.

Facebook’s Small Business Grants Program

FILE PHOTO: A 3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. REUTERS/Dado Ruvic

21 states in the US are eligible for Facebook’s funding.



The social media giant is earmarking $100 million to help up to 30,000 businesses in more than 30 countries with cash grants and ad credits. Eligible businesses must be able to demonstrate they have been negatively affected by COVID-19, were founded at least a year ago, are based near a Facebook office, and currently employ between two and 50 people. 

Cash amounts are determined on a case-by-case basis. In the US, eligible locations include 21 states (you can review the full list here). Application dates vary by region. 

You can sign up here to find out when grants will be available in your area.

GoFundMe’s Small Business Relief Initiative

GoFundMe

You’ll need to create a fundraiser on GoFundMe to participate.



The crowdfunding platform launched the Small Business Relief Initiative in partnership with Yelp, GoDaddy, Intuit Quickbooks, and Bill.com to offer $500 cash grants to small businesses negatively affected during the COVID-19 pandemic. Eligible businesses must be independently owned and operated. 

To participate, you must create a fundraiser on GoFundMe that includes the hashtag #SmallBusinessRelief, fill out this form, and raise at least $500 from friends and family. 

Visit their website to find out more information.

Google’s ‘Grow with Google’ Small Business Fund

FILE PHOTO: A 3D printed Google logo is placed on the Apple Macbook in this illustration taken April 12, 2020. REUTERS/Dado Ruvic/Illustration

Google hopes to improve access to capital for marginalized communities.



Google is distributing $340 million in ad credits to small businesses worldwide. The funds will be disbursed to small and medium-sized businesses that have been active advertisers on the platform since January 1, 2019. The company said it is working to notify recipients in the coming months. Credits are redeemable until December 31, 2020.

Google is also teaming up with the Opportunity Finance Network to launch the Grow with Google Small Business Fund. The $125 million fund will help support community development financial institutions (CDFIs) with low-cost, fixed-rate loans of up to 10 years. Their goal is to help improve access to capital for marginalized communities, including women and minority small business owners. 

For more information, visit their website.

Hello Alice’s COVID-19 Business for All Emergency Grants

Hello Alice

Hello Alice is backed by Serena Williams and Melinda Gates.



The digital platform backed by Serena Williams and Melinda Gates launched the COVID-19 Business for All Emergency Grants in partnership with the eBay Foundation and the Silicon Valley Bank. The $10,000 cash grants are available to businesses affected by the coronavirus pandemic with 50 or fewer employees. Business owners can apply online here.

Hello Alice is also partnering with Verizon to further support minority business owners including women, people of color, military-connected individuals, entrepreneurs with disabilities, and members of the LGBTQ+ community. In this regard, applicants to the Business for All grants will also be considered for additional cash grants of up to $50,000. However, the lucky recipients won’t be announced until October. 

For more information, visit their website.

Mailchimp’s Small Business Fund

Mailchimp

Mailchimp is offering its service free to paying customers of the platform.



The email marketing platform is offering $10 million in Mailchimp service to paying customers who have been affected by the COVID-19 pandemic. Small business customers with 25 or fewer employees operating in impacted industries, including restaurants, travel, and entertainment, can apply online to receive free service for three months. 

For more information, visit Mailchimp’s website.

The Salesforce Care Small Business Grants

san francisco shelter in place coronavirus 42

Salesforce is offering grants of $10,000 to small businesses.



The company recently launched Salesforce Care Small Business Grants of $10,000 to help support small businesses in the US and abroad. Details are still scarce, so check their website to sign up for updates. The company is also offering three months of its Salesforce Essentials for free to new customers with up to 10 users. 

More information is available here.

Spanx’s The Red Backpack Fund

sara blakely spanx

Spanx’s CEO Sara Blakely.



The shapewear company founded by Sara Blakely is offering $5,000 grants through The Red Backpack Fund to help support 1,000 female entrepreneurs and their businesses. Applications for April are already closed, but the portal will reopen on May 4, June 1, July 6, and August 3. 

For more information, visit their website.

TikTok’s pledge to small businesses

How to delete TikTok account

TikTok hasn’t rolled out its $100 million ad credits program yet.



The popular video app pledged to give $100 million in ad credits to small and medium-sized businesses affected by COVID-19. Exact details of the program are scarce, however. The company said it will wait until economies are able to resume normal activities to begin rolling it out.  

Verizon’s Small Business Recovery Fund

FILE PHOTO: The Verizon store in Superior, Colorado, U.S., July 27, 2017.  REUTERS/Rick Wilking

The Verizon Small Business Recovery Fund targets entrepreneurs of color and women-owned businesses.



The telecommunications behemoth teamed up with the Local Initiatives Support Corporation (LISC) to create the Verizon Small Business Recovery Fund and offer up to $10,000 grants to entrepreneurs of color, women-owned businesses, and other companies from marginalized communities. The second round of applications opens in mid-April. 

Visit their website for more information.

LoadingSomething is loading.

More:

BI Prime
Features
SMB
coronavirus

Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Read More

(Visited 1 times, 1 visits today)
Join Our Newsletter.
We'll send you the best news and informed analysis on what matters the most to you.

Leave a Reply

Your email address will not be published. Required fields are marked *

Scroll Up Scroll Up
en_USEnglish
en_USEnglish