As our members and Communities of Color continue to face the growing uncertainty of the economic impact of the Coronavirus, Urban Financial Services Coalition is committed to keeping everyone in our network informed of resources that are being made available to support them during this challenging time.
U.S. Chamber of Commerce Launches Nationwide “Save Small Business” Initiative.
To combat the economic destruction threatening the survival of small businesses in every town across America, on April 15, 2020, the U.S. Chamber of Commerce launched the Save Small Business Initiative — a nationwide program to address small businesses’ immediate needs, mitigate closures and job losses, and mobilize support for long-term recovery.
An important aspect of the initiative is the “Save Small Business Fund” – Helping small employers who are struggling during the COVID-19 outbreak. This fund is a grant making initiative offering short term relief for small employers in the United States and its territories. Funded by corporate and philanthropic partners, the Save Small Business Fund is a collective effort to provide $5,000 grants to as many employers as they can.
To qualify for the fund an employer must meet the following criteria:
- Employ between 3 and 20 people
- Be located in an economically vulnerable community
- Have been financially impacted by the COVID-19 pandemic
An employer can determine if they are in an economically vulnerable community by entering their zipcode associated with their business (as listed on their W-9) on the Save Small Business website.
A short application will go live on the Save Small Business website on April 20, 2020 at 12 noon, Pacific Time. The website also allows for employers to sign up for a reminder of when the application portal is open.
To learn more about the program and to sign up visit https://www.savesmallbusiness.com0