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The COVID-19 pandemic has been brutal for small business owners, but thankfully, there are many organizations offering loans and grants to help out. While some states have resources for small business owners, many are still feeling the impacts of the epidemic and the economic ripples it has caused. As small business owners, we give thanks to organizations like Lowe’s and FedEx that are offering grants to small businesses affected by the coronavirus outbreak.
FedEx #SupportSmall Grants
Even before the COVID-19 pandemic began to cause small businesses to struggle with cash flow, FedEx was annually awarding $25,000 in grants to business. In 2020 following new social distancing guidelines and consequently the suffering of many small businesses, FedEx announced they will be awarding a total of $1 million to 200 small businesses nationwide.
In addition to the $5000 that each grant recipient will receive, FedEx will also be donating a $500 store credit for printing banners, posters, floor graphics, custom branded boxes and more to help struggling small businesses get back on their feet during these trying times.
For more information, please visit https://www.fedex.com/en-us/support-small-business-grants.html.
Lowe’s-LISC Partnership
The Local Initiatives Support Corporation is providing emergency assistance to small businesses desperately trying to stay afloat with the help of a significant grant from Lowe’s. LISC is mainly focusing on efforts by historically underserved communities like those enterprises owned or led by minorities and women since they often lack access to affordable capital. However, these grants are being offered to any small business owner that needs help meeting immediate needs such as paying rent or meeting payroll.
Applications will be reviewed by prioritizing particularly challenged businesses and the final grantees will be randomly selected from the top scoring applicants who are lacking access to flexible and affordable financial assets.
For more information, please visit https://www.lisc.org/covid-19/small-business-assistance/small-business-relief-grants/lowes/.
These are some very tough times for small businesses. Many have been forced to dramatically cut their services due to shelter-in-place orders that only allow essential businesses to remain open. Small businesses nationwide are being forced to resort to online fundraising campaigns, hoping loyal customers will invest in their survival. We understand the struggle of trying to operate on razor-thin margins without any major assistance and are incredibly grateful to private institutions who have set up programs to help small businesses and community organizations stay alive.
