COVID Relief: Small Businesses
Seven current local, state, or national emergency funding relief or grant options for small businesses in Fairfax County, VA include the Fundera's Zach Grant giving $2,500 every year to entrepreneurs and the Small Business Relief Fund that is providing one-time matching grants. Detailed information is below.
Hello Alice COVID-19 Grant
- Hello Alice is offering $10,000 in its COVID-19 Business for All Emergency Grant.
- The grant is being distributed immediately to small business owners affected by the Coronavirus, as part of their broader mission to ensure Business for All.
- In addition to funding, grant recipients receive ongoing support from the Hello Alice community.
- The link to the application is here.
Fundera’s Zach Grant
- Fundera hosts a small business grant that gives out $2,500 every year to entrepreneurs looking to start or fund their businesses.
- Applicants need to send a video entry explaining why they started their company and follow Fundera on social media. Fundera awards $2,500 for the best video entry. The grant is awarded in check form, made payable directly to the business.
- To apply, one needs to "like and follow Fundera on Facebook and then record a 3-minute video in response to the question "Why did you start your own business?" The video should be published to one's YouTube channel with the title: "Fundera Zach Grant — The Business Name." Finally, the applicant should email their video to firstname.lastname@example.org from their business email and post the video to their social networks."
- Quality, originality, and creativity are the three criteria used to judge the video.
Small Business Relief Fund
- The GoFundMe.org Small Business Relief Fund is currently providing micro-grants to qualifying small businesses negatively impacted by the COVID-19 pandemic.
- The Small Business Relief Fund is part of the Small Business Relief Initiative which aims to provide support and financial assistance to businesses across the country by providing grants, tools, and resources to help during the crisis.
- The Small Business Relief Fund will provide one-time matching grants to small businesses that qualify to help ease the financial burdens during these hard times.
- Businesses that qualify will receive donations to the relief fund in the form of grants. Businesses must have created a fundraiser through the Small Business Relief Initiative or have an existing GoFundMe profile.
- The GoFundMe fundraiser must raise at least $500 to qualify for a matching grant from the Small Business Relief Fund. Also, the fundraiser must verify that their small business has been negatively impacted by a government mandate due to the COVID-19 pandemic. The small business must "be independently owned and operated, and must not be nationally dominant in its field of operation. Each recipient of the matching grant must intend on using the funds to help care for its employees or pay ongoing business expenses."
- Those who meet the criteria are required to follow these steps to be approved for a matching grant: Be sure the business owner is set up to receive the funds from the fundraiser, if not raising money for own business. Select the “Withdraw” option in the GoFundMe dashboard to make sure this is set up. Fill out this form to confirm the small business.
- Opportunity Fund is supporting small businesses financially struggling due to the COVID-19 pandemic.
- Small business owners with businesses that have been impacted by the pandemic should contact Opportunity Fund directly for more information and to be better served.
Amber Grant for Women
- The background information did not specify the gender of the client. We found and included the Amber Grant for Women as it could be beneficial if the client is a woman.
- The Amber Grant for Women is awarding a $10,000 grant each month to women from Virginia and all across America.
- The grant was launched by WomensNet in 1998 to honor the memory of Amber Grant who died at the age of 19.
- Applicants must answer a few questions about their business and tell their business story during the application. Applications for the next Amber Grant are due by the end of the month.
- A link to the application form can be found here.
Local Initiatives Support Corporation (LISC) Small Business Grant
- LISC is offering emergency assistance of up to $10,000 each to small businesses desperate to stay afloat. This is thanks to a donation from the $1 million grant from Sam’s Club.
- Eligible expenses include meeting payroll, paying rent and utilities, paying outstanding debt to vendors, and upgrading technology infrastructure.
- LISC will provide grants to help small businesses to bridge the financial gap. Focus will be on historically underserved communities, especially those businesses owned or led by minorities, women, and veterans.
- All small businesses affected by the Covid-19 across the nation are eligible to apply. However, those in underserved communities will be prioritized.
- The application review will "prioritize particularly challenged businesses, and the final grantees will be randomly selected from the top scoring applicants."
Targeted Economic Injury Disaster Loans (EIDL) Advance
- The Targeted EIDL Advance provides businesses experiencing lost revenue and impacted by the Covid-19 pandemic, especially those in low-income communities, with economic relief and additional funds to ensure small business continuity, resiliency, and adaptation.
- The Small Business Administration's (SBA's) EIDL Program provides an emergency grant up to an additional $10,000 for small businesses and the applicant receives a response within three days of applying for a disaster loan.
- To access the Targeted EIDL Advance grant, businesses must first apply directly to the Small Business Administration for an EIDL and then request the advance. Businesses may receive this advance even if they are turned down by EIDL and the grant does not need to be repaid.
To provide current local, state, or national emergency funding options (financial relief/grants) for small businesses in Fairfax County, VA, we leveraged information from national, state, and local government sites. We also searched news sites and industry databases for the relevant information. We found seven funding options. There are several funding options for women, African Americans, and veterans, among other demographics. Since we did not know the gender of the client in need of the information or other demographics, we included just one out of seven that targeted women.