Companies including Sam's Club and Verizon are participating in a COVID-19 small business relief fund being administered by the Local Initiatives Support Corporation (LISC) to offer support to small businesses facing immediate financial threat because of the COVID-19 pandemic. LISC is using the funds to provide grants of up to $10,000 to businesses facing immediate financial pressure because of COVID-19, especially entrepreneurs of color, women-owned businesses and other enterprises that don’t have access to flexible, affordable capital.
LISC has launched a second-round of an online process for small businesses to submit applications for grants. Its first funding window closed on April 4 and the second round opened on April 22. (Apply here or click below by Tuesday, April 28 at 11:59 PM EST). Applications will be reviewed to ensure a business is eligible and then entered into a lottery. The grants are designed to help business owners fill urgent financial gaps - from paying rent to meeting payroll - until they can resume normal operations or other financing becomes available.
If a business applied in round 1 and was not awarded, businesses may apply again, the round 1 applications will not automatically roll into this second round.