Financial information for small business owners affected by COVID-19

This page contains information on federal, state and local loan programs, tax incentives, and other financial resources available to small businesses affected by COVID-19.

If you have questions, please do not hesitate to reach out to us or your lender.

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Private Funding Opportunities

Loan / Seed Funds

American Seed Fund

America's Seed Fund powered by the National Science Foundation (NSF SBIR/STTR) supports startups with research and development funding new products, services, and other scalable solutions.

Funded projects must have the potential to positively benefit society and to lead to significant outcomes in the commercial market. Most of the startups we fund have fewer than five employees, are recently formed and haven't received funding from the government before.

Key Points: 

  • Early-stage funding to companies that need to prove their technology and find their market potential
  • 3,400 recipients since 2012
  • 153 have exited program and have received $9.1 billion in private investment
  • Total of $200 million per year eligible for recipients
  • Learn More / Application

Southern Opportunity and Resilience Fund (SOAR)

The Southern Opportunity and Resilience (SOAR) Fund is a new program built to support small businesses and non-profits across the South and Southeast to help them navigate and rebuild from the COVID-19 crisis.
Key Points: 
  • This is a loan fund
  • $53 million available
  • Maximum $100,000
  • To date, $11 million funded covering 250 small businesses
  • 90% of recipients to date had 10 or fewer employees
  • Learn more
Legal Assistance

NoVA COVID-19 Pro Bono Collaborative

The COVID-19 Pro Bono Collaborative, a growing network of trusted top-tier law firms, corporations and other legal service providers across the country, is providing a highly coordinated, emergency response to help small businesses and nonprofit organizations survive the economic impact of COVID-19.


Minority Business Specific

SoGal Foundation Grants

Application Page

SoGal Foundation has teamed up with multiple sponsors to provide several $10K and $5K cash grants to Black women or nonbinary entrepreneurs.

Awardees will also receive tactical help navigating the fundraising environment at large so that they will have a more equitable opportunity at scaling the next billion dollar idea. They will also receive lifetime “ask-me-anything” access to the SoGal Foundation and SoGal Ventures teams. 

Key Points: 

  • self-identify as a Black woman or Black nonbinary entrepreneur (inclusive of multiracial Black women and multiracial Black nonbinary folks)
  • have a legally registered business
  • plan to seek investor financing in order to scale, now or in the future
  • have a scalable, high-impact solution or idea with the ambition to be the next billion dollar business.
  • Application

Coalition to Back Black Businesses (Opening in Fall 2022)

Bookmark Application Page

The Coalition to Back Black Businesses is a multi-year initiative to support Black small business owners and the communities they serve as they recover from the COVID-19 pandemic and chart a path forward. Small businesses are critical parts of communities – the strength of these businesses is essential to the recovery of their communities.

From 2020 through 2023, we will distribute $5,000 grants to applicants each fall, followed by mentorship and training, and select few will receive $25,000 enhancement grants the following summer. We hope these grants can provide some assistance to the Black business community to emerge from this crisis stronger than ever. We know the need for assistance is great, and we wish we could help everyone who needs it.


  •  Meet the criteria for being a Black-owned enterprise in a qualifying industry.
  • Employ between 3 and 20 people, including the owner and any full-time employees, part-time employees, or individuals working under a 1099 or similar contractual agreement.
  • Be located in an economically vulnerable community, according to the Distressed Communities Index.
  • Have been harmed financially by the COVID-19 pandemic.

Bookmark Application Page

Comcast RISE Investment Fund - Closes June 17

Application Here

There are separate applications for the marketing and technology services awards and the Comcast RISE Investment Fund. Eligible business owners may apply for either, or both programs.

The next wave of applications for Comcast RISE Marketing & Technology Services opened on January 16, 2022, and will close on June 17, 2022.

Application Here

AT&T Black Future-Maker - Closes December 31

Learn More Here

Share your story for a chance to become an AT&T Black Future Maker.

Inspiring. Visionary. Culture Shaper. These are the qualities of a Black Future Maker. Dedicated individuals pursuing greater possibilities for the greater good. If this sounds like you, then AT&T wants to celebrate your journey.

You have a chance to win $10,000 and an AT&T 5G enabled device.

To enter for a chance to win $10,000:

  • Submit a video of 30-60 seconds, or photo, on your Instagram feed.
  • Tell us how you are pursuing greater possibilities for you and the community.
  • Tag @att and use #dreaminblack and #attcontest.

Learn More Here

CCWC Women of Color Entrepreneur Grant - Closes May 2022

Corporate Counsel Women of Color will award 5 grants to Women of Color entrepreneurs. Your business must be established as of January 1, 2020. Grants are $5,000.

Criteria for the CCWC Women of Color Entrepreneur Grant:

  • The business must operate in the United States.
  • The business must be established as of January 1, 2020 with a EIN number.
  • The business is a legal for-profit business.
  • The business has generated over $25,000 in revenue since January 1, 2020.
  • The applicant must be at least 18 years of age at the time of submitting this application.
  • The CCWC review committee will review submissions in May 2022, and grants will be awarded to winners and finalists in August 2022.

Apply Here

Fearless Strivers - Closes December 31

Learn More and Apply Here

Black women-owned businesses are vital to our economy yet receive less than one percent of venture capital funding. Fearless Fund is deepening its commitment to this community with the launch of the contest.

With Mastercard prizing, we’ll be awarding eleven lucky small businesses across the country $10,000 grants, digital tools to help them get and sustain their business online, and Priceless one-on-one mentorship so they can continue to bolster their business.

Learn More and Apply Here

HerRise Micro-Grant - Monthly Awards

Learn More and Apply Here

The HerRise Micro-Grant provides financial support to women of color creating innovative solutions that impact their community and that are often unable to secure funding for their small business. Each month a $500 micro-grant will be awarded to a small business owned by women of color.

To qualify:

  • Business is 51% owned by women of color
  • Business is currently registered in the US
  • Non-profits, franchise, direct seller, authorized reseller or independent consultant not eligible
  • Applicant must be a HerSuiteSpot members, registration is free at

Learn More and Apply Here

Grant Funding

GoFundMe Small Business Relief Fund

The Small Business Relief Fund will provide micro-grants to qualifying small businesses negatively impacted by the COVID-19 pandemic.

The Small Business Relief Initiative will supply financial assistance and support to businesses across the country by providing grants, tools, and resources to help during the crisis.

The Small Business Relief Fund will provide one-time matching grants to qualifying small businesses to help alleviate the financial burdens during these pressing times. Donations to the relief fund will be paid out as grants to businesses that qualify, and which businesses have created a fundraiser through the Small Business Relief Initiative or had an existing GoFundMe.

Key Points:

  • Awardees must set up a GoFundMe fundraiser
  • To qualify for a matching grant from the Small Business Relief Fund, the GoFundMe fundraiser must raise at least $500
  • Must verify that your small business has been negatively impacted by a government mandate due to the COVID-19 pandemic
  • Your small business must be independently owned and operated, and not nationally dominant in your field of operation
  • Each recipient of the matching grant must intend on using the funds to help care for your employees or pay ongoing business expenses
  • Learn More / Application

The Barstool Fund - Bar / Restaurant Specific

Barstool Sports has created the Barstool Fund in support of the 30 Day Fund to help small businesses survive.

If you are a small business owner in need of help due to the impacts of COVID, you can submit your application at:

Key Points:

  • To date more than $41 million has been raised
  • 231,000 individual contributors
  • 443 recipient businesses to date
  • Must be in restaurant/bar industry
  • Apply

Northern Virginia Incumbent Worker Training Grants

Application Page

In order to meet local employers’ demand to re-train their existing workforce, Virginia Career Works Northern Region offers Incumbent Worker Training grants through the Federal Workforce Innovation and Opportunity Act (WIOA). These funds can assist employers to support their employees in gaining new skills and in making their businesses more competitive and profitable.

The grant program reimburses employers for the cost of training their workers, and cover training costs such as instructional costs for training courses, classes for certification exams, online training, textbooks and manuals. Participating businesses must provide a minimum matching contribution to the Incumbent worker training project, in amounts identified in the State of Virginia policy based upon company size. These matching funds may include in-kind services.

To apply for a grant, employers must submit an application and request on company letterhead via email to David Hunn at [email protected]

Application Page

COVID-19 Restore Retail Grant: Prince William County


In response to the lasting negative economic impact of the public health emergency, Prince William County established the Restore Retail Grant for customer-facing small businesses that either own or lease their facility and would include retail, restaurants/food service, arts & entertainment, event venues, personal services, and child program businesses.

For questions or assistance with the application, contact Clarice Grove, Small Business Manager at [email protected]

City of Manassas Cash Grants

The City recognizes that starting, expanding and relocating your business come with unique costs. The City of Manassas has designed the following programs to help, because our success is tied to yours.

Learn More Here

2022 Dream Big Awards - Closes July 8

Apply Here

The U.S. Chamber of Commerce is proud to recognize the very best in American small business.

Every year at The Big Week for Small Business, the Dream Big Awards program honors the achievements of small businesses and highlights their contributions to America’s economic growth.

The 2022 Small Business of the Year award winner will receive national recognition and a $25,000 cash prize!

A business must meet the following requirements to be eligible for the Dream Big Small Business of the Year Award or a Business Achievement Award.

  • For-profit business operating for at least one (1) year primarily within the United States.
  • Have less than 250 employees OR gross revenues of less than $20 million for each of 2021 and 2022.

Apply Here

COVID-19 Funding Opportunities

PPP Forgiveness

First Draw & Second Draw PPP Loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement:

  • Employee and compensation levels are maintained
  • The loan proceeds are spent on payroll costs and other eligible expenses; and
  • At least 60 percent of the proceeds are spent on payroll costs

Learn more about the process.

SBA Debt Relief

Due to coronavirus, SBA borrowers qualify for temporary debt relief. SBA will pay six 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 Sept. 27, 2020 and does not apply to loans made under the Economic Injury Disaster Loan (EIDL) program.


Economic Injury Disaster Loans (EIDL)

Notice: COVID EIDL is no longer accepting new applications but will continue to accept requests for increases, reconsideration, and appeals.

Virginia small businesses suffering economic injury due to coronavirus (COVID-19) are eligible to apply for low-interest SBA loans.

SBA is again accepting applications from all small businesses impacted by COVID-19. Applications already submitted will continue to be processed on a first-come, first-served basis.
Key changes as of 1/4/2022 include:
  • Notice: COVID EIDL is no longer accepting new applications but will continue to accept requests for increases, reconsideration, and appeals.
  • Increasing the COVID EIDL Cap. The SBA will lift the COVID EIDL cap from $500,000 to $2 million. Loan funds can be used for any normal operating expenses and working capital, including payroll, purchasing equipment, and paying debt.
  • Implementation of a Deferred Payment Period. The SBA will ensure small business owners will not have to begin COVID EIDL repayment until two years after loan origination so that they can get through the pandemic without having to worry about making ends meet.
  • Establishment of a 30-Day Exclusivity Window. To ensure Main Street businesses have additional time to access these funds, the SBA will implement a 30-day exclusivity window of approving and disbursing funds for loans of $500,000 or less. Approval and disbursement of loans over $500,000 will begin after the 30-day period.
  • Expansion of Eligible Use of Funds. COVID EIDL funds will now be eligible to prepay commercial debt and make payments on federal business debt.
  • Simplification of affiliation requirements. To ease the COVID EIDL application process for small businesses, the SBA has established more simplified affiliation requirements to model those of the Restaurant Revitalization Fund.

COVID-19 Trageted EIDL Advance was signed into law on December 27, 2020, as part of the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act. The Targeted EIDL Advance provides businesses located in low-income communities with additional funds to ensure small business continuity, adaptation, and resiliency.

Advance funds of up to $10,000 will be available to applicants located in low-income communities who previously received an EIDL Advance for less than $10,000, or those who applied but received no funds due to lack of available program funding. See SBA COVID-19 Economic Injury Disaster Loans program page for more information. 
Applicants do not need to take any action at this time. SBA will reach out to those who qualify.

Supplemental Targeted Advance

The Supplemental Targeted Advance provides the smallest and hardest hit eligible businesses with a supplemental payment of $5,000 that does not have to be repaid. Even if you have previously received the original EIDL Advance in the full amount of $10,000, you may be eligible for the Supplemental Targeted Advance if you meet eligibility criteria. The combined amount of the Supplemental Targeted Advance ($5,000) with any previously received EIDL Advance or Targeted EIDL Advance ($10,000) will not exceed $15,000.

Completing the Targeted EIDL Advance application is a requirement to be considered for the Supplemental Targeted Advance, and SBA is reaching out directly to those who may qualify.

SBA Extends Deferment Period for all COVID-19 EIDL and Other Disaster Loans until 2022

  • All SBA disaster loans made in calendar year 2020, including COVID-19 EIDL, will have a first payment due date extended from 12-months to 24-months from the date of the note.
  • All SBA disaster loans made in calendar year 2021, including COVID-19 EIDL, will have a first payment due date extended from 12-months to 18-months from the date of the note.
  • Press Release

Shuttered Venue Operators Grant (SVOG) - Supplemental Awards

NOTICE: As of August 20, 2021, the SVOG Portal is no longer accepting new applications. The portal remains open to all active applicants and awardees.

SBA will begin sending invitations for supplemental awards for the Shuttered Venue Operators Grant program.

SVOG supplemental awards are to be provided to those who received an initial grant and have illustrated a 70% loss when comparing 2021’s first-quarter revenues to the same in 2019.

Supplemental award applicants can choose to apply for any amount up to 50% of their original SVOG amount, with a $10 million cap of the initial and supplemental awards combined, according to the law. The supplemental awards also allow SVOG recipients to extend the time to use their grant funds for expenses accrued through June 30, 2022 and lengthen their budget period to 18 months from the initial grant’s disbursement date. 

Learn more


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