Tag: capital
GoFundMe Small Business Relief Initiative
Business owners whose businesses have been affected by the COVID-19 pandemic can create a fundraiser for their business on GoFundMe. If the fundraiser raises $500 or more, eligible businesses may be entitled to a $500 matching grant from the Small Business Relief Initiative created by GoFundMe.
NOTE: If you start a GoFundMe campaign, be sure to include the hashtag #SmallBusinessRelief in your fundraiser story.
More information about the Small Business Relief Initiative can be found here.
Your business can start a crowdfunding campaign with Mainvest, and you may be eligible to receive a $2,000 interest-free loan, in addition to any funds raised by the crowdfunding campaign.
- For find more information about this loan, create a page for your business, and/or launch your crowdfunding campaign, click here.
The Hebrew Free Loan Society has created the Coronavirus Financial Impact Loan, which offers interest-free loans of $2,000-$5,000 to New York City residents meeting eligibility requirements. The loans will be repaid over a 20-month period
starting in July 2020.
Eligible small business owners:
- Reside in New York City, Westchester, or Long Island
- Meet certain income limits established by the Hebrew
Free Loan Society
For more information about this loan program, click here.
Kiva is offering interest-free loans of up to $15,000 to small businesses meeting eligibility requirements. Loan payments can be deferred for up to 6 months.
Small business owners are eligible for the Kiva Loan if:
- The business owner and the business are located in the
U.S.; The business owner is over the age of 18; - The loan will be used for business purposes;
- The business is not engaged in multi-level marketing or direct sales, illegal activities, or purely financial investing;
- The business owner is not in foreclosure or bankruptcy; and
- The business owner is willing to demonstrate social capital
by having a small number of family and friends make a loan to him or her.
More information about the Kiva Interest-Free Loan can
be found here.
Apply for the Kiva InterestFree Loan here.
Bronx Business Continuity Loan (BBCL)
The Bronx Overall Economic Development Corporation (BOEDC) and the Office of the Bronx Borough President has established the Bronx Business Continuity Loan (BBCL) to help sustain businesses through the Covid19 pandemic. The use of these funds will provide local emergency business financing and bridge loan funding until government contingency financing is in place.
Eligible Companies:
For-profit entities, including service, retail and manufacturing companies operating in the Bronx and nonprofit organizations in the Bronx.
Eligible Uses:
– Payroll expense
– Commercial Mortgage / Rent
– Equipment lease options
– Insurance premium expense
– Misc. business discontinuance expense
More information, visit the BOEDC’s Facebook page or contact BOEDC’s Loan Officers:
Rafael Roger at rroger@boedc.org or 347-524-4739
Pedro Barry at pbarry@boedc.org or 347-297-0071