COVID-19 Financial Assistance Programs for Small Businesses

The U.S. Chamber played a key role in shaping and passing the CARES Act, including the law’s small business emergency loan programs, like the Paycheck Protection Program.

We are continuing to fight for additional relief for small businesses and industries hit hardest by the pandemic. We will not stop fighting for you.

Learn more about our advocacy in response to the coronavirus pandemic.

SMALL BUSINESS ADMINISTRATION PROGRAMS

SMALL BUSINESS TAX CREDIT FOR EMPLOYEE CORONAVIRUS VACCINATIONS

Signed into law on March 11, 2021, the American Rescue Plan provides tax credits to pay for the time off for an employee to get vaccinated, to take family members to get vaccinated, or recover from any condition related to being vaccinated.

ECONOMIC INJURY DISASTER LOANS (EIDL)​

Expanded by the CARES Act, the EIDL program has been around for a couple of years and is intended to provide economic relief to businesses that are currently experiencing a temporary loss of revenue during a declared disaster. Here’s our step-by-step guide.

DEBT RELIEF PROGRAM

The SBA will pay 6 months of principal, interest, and any associated fees that borrowers owe for all current 7(a), 504, and Microloans in regular servicing status as well as new 7(a), 504, and Microloans disbursed prior to September 27, 2020.

EXPRESS BRIDGE LOANS​

These loans allow small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.

Click here for the Small Business Administration’s website, where you’ll find additional programs as well as more resources and guides for coronavirus-impacted businesses.

ADDITIONAL FEDERAL PROGRAMS

COVID-SB.org

The official federal resource for U.S. Small Businesses affected by COVID-19. Here you can access reliable, essential information and search for a small business advisor or mentor near you.

SMALL BUSINESS DEVELOPMENT CENTERS

Small Business Development Centers provide assistance to entrepreneurs and small businesses by way of training sessions and free business consulting. Host networks for SBDCs are located all across the U.S. and its territories. Search for a location near you by using a tool on SBA.gov.

WOMEN'S BUSINESS CENTERS

The Association of Women’s Business Centers sustains a network of 100 business centers across the United States, each of which supports female entrepreneurs with mentoring, as well as training, business development and finance opportunities. The AWBC also runs conferences, which can be great places to connect with potential mentors. Find a WBC near you.

VETERANS BUSINESS OUTREACH CENTER

VBOCs provide many entrepreneurial development services, including mentorship, to veterans, transitioning service members, National Guard & Reserve members and military spouses who are starting or growing a small business. You can search for locations near you on the SBA.govwebsite.

MBDA BUSINESS CENTERS

As an agency with the Department of Congress, the Minority Business Development Agency works to promote the growth of minority-owned businesses, in part through business centers located across the country in areas with the highest concentration of minority populations and minority business owners.

SCORE

Partnering with the U.S. Small Business Association, SCORE is a nonprofit that helps connect small businesses with volunteer mentors of both active and retired executives and entrepreneurs across 62 industries. There are 300 chapters across the country, so you can connect with a local mentor to meet in person, or you can set up video or email relationships.

STATE AND LOCAL PROGRAMS AND ASSISTANCE

The following state and local programs are still open to provide funding. Updated as of December 2, 2020.

PRIVATE SECTOR PROGRAMS AND ASSISTANCE

Many companies and organizations have stepped up to provide financial assistance to small businesses. Click on any of the below to check eligibility and requirements.