Grants & Loan Resources
The U.S. Small Business Administration, in consultation with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars. Learn more.
The LISC Rapid Relief and Resiliency Fund will inject much-needed, flexible resources into historically under-invested communities. These are the places that are suffering most from the economic fallout gripping our nation due to the Covid-19 pandemic. Our aim is to raise up to $100 million in grants, loans and other investments for the Fund Click to learn more.
Under the Paycheck Protection Program (PPP) created by the CARES Act, loans may be forgiven if borrowers use the proceeds to maintain their payrolls and pay other specified expenses.
The Treasury Department and Small Business Administration recently released the application form and instructions for loan forgiveness. The forgiveness forms, instructions, and worksheets can be downloaded here.
PPP borrowers must apply for loan forgiveness with the lender that processed the loan.
This guide is designed to help borrowers understand the process by which their loan forgiveness amount will be calculated and the overall approach of the loan forgiveness process. Click here to download the guide.
The U.S. Travel Association has created a list of resources for 501(c)6 organizations. To view the resource document click here.
“There is a good chance that you, like many small business owners, are wondering how the financial fallout of the coronavirus (COVID-19), will impact your business. For many, it isn’t just a question of lost sales, but uncertainty around how to best protect your livelihood, support your employees and manage ongoing operational costs.
However, there may be a light at the end of the tunnel, as the U.S. Small Business Administration announced on March 12, 2020, that they will be offering low-interest Economic Injury Disaster Loans of up to $2 million to impacted small businesses. The interest rate on these loans will be 3.75% for small businesses and 2.75% for non-profits. Loans can be repaid over a period of up to 30 years. Here’s a quick overview of the SBA Economic Injury Disaster Loan program with details below.” Click to read the overview
The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-10). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration. Click here to view the full handout from SBA regarding disaster assistance.
LISC invites small business owners in rural locations across the country to apply for the LISC-Lowe’s Rural Relief Small Business Grants program.
The latest grant application period is now open.
Applications must be submitted by January 5, 2021 at 11:59PM ET.
Who is eligible?
Only small businesses located in rural communities are eligible at this time. Rural communities are defined as having a population of 50,000 or less. A community is defined as the city/town/village where your business address is located. If the business is mobile (a food truck, fishing boat, ride share driver, etc) please use the address where your vehicle is stored during non-business hours.
All potential applicants are encouraged to review our FAQ and grant information before applying.
Non-profit organizations are ineligible for the relief funding program at this time, but may be eligible for later rounds of funding.
Upcoming round: January 26 – February 2, 2021