3 Resources for Struggling Small Businesses
Share to help a small business! Since COVID-19 hit, many small businesses have been impacted by the regulations. I'm sure you've seen the tags for #supportsmallbusinesses, #shopsmall, and #shoplocal. Lucky for small business owners, there are a few major comapnies offering relief grants, promotions, and loans.
Here are the top 3.
Facebook created a $100 million grant for small businesses impacted by COVID-19. “We’ve listened to small businesses to understand how we can best help them,” writes Facebook COO Sheryl Sandberg in a post on the platform. “We’ve heard loud and clear that financial support could enable them to keep the lights on and pay people who can’t come to work. That’s why today I’m announcing that Facebook is investing $100 million to help 30,000 small businesses in over 30 countries where our employees live and work.”
To help even more, Facebook just released their Business Hub, which is created to provide resources, connections, and business tracking tools to help small businesses stay afloat an informed about COVID-19.
Yelp acknowledges that many small businesses that use their platform are struggling, so they're providing $25 million across the nation for free advertising until at least April 30.
To help even more, Yelp partnered with GoFundMe, a fundraising platform, and is now allowing independent businesses to create fundraisers that Yelp/GoFundMe will match if they meet their set goal. All of this is accessible through your company's existing Yelp account.
Verizon and LISC have partnered up to provide a Small Business Recovery Fund that aims to cover costs for small businesses until things return to normal. This one is a little more strict because there is an application process and eligibility requirements.
According to the website (linked above), the grant can cover the following expenses:
- Paying rent and utilities
- Meeting payroll
- Paying outstanding debt to vendors
- Other immediate operational costs
I hope this can help some small businesses like us who need all the support we can get during this trying time in our nation.
Happy online shopping,