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- Resources Available in Response to COVID-19
Resources Available in Response to COVID-19
- Facebook Small Business Grants Program - Facebook is offering $100 million in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where it operates.
- Financial Assistance for Small Business - U.S. Chamber of Commerce Foundation has compiled a list of programs providing financial assistance to small businesses. Includes Multi-State Programs and State-by-State Programs.
- James Beard Foundation Relief Fund - (Applications suspended due to overwhelming response; Foundation will notify its audience if the application will be reopened.) Provides critical financial assistance to small, independent restaurants that, due to the COVID-19 (Coronavirus) national disaster, have an immediate need for funds to pay set operating expenses and keep from going out of business.
- The NDN Collective COVID-19 Response Project - Provides immediate relief to Tribal Nations, front line Indigenous-led organizations, and individuals who are providing essential services to Indigenous communities in North America during the current global health pandemic within the next 15 to 45 days to provide gap resources during this health crisis.
- Small Business Administration (SBA) Disaster Assistance Loans
- SBA Paycheck Protection Program - An SBA loan that helps businesses keep their workforce employed during the COVID-19 crisis.
- San Mateo County Strong Fund - Emergency funding to support those most impacted by COVID-19 in San Mateo County in partnership with the Silicon Valley Community Foundation.
Please note: Self-employed individuals should also explore the "Small Nonprofits" section, as they may also be eligible for a number of those opportunities.
- $300 Universal Charitable Deduction - Permits individuals to deduct up to $300 of cash contributions to most charities in 2020 for those who do not itemize their deductions.
- Changes to Limitations on Charitable Contributions: Suspends the limitation on deductions for cash contributions to most charities for individuals who itemize. Increases the limitation on deductions for similar contributions by corporations from 10% to 25% of taxable income. Also increases the limitation on deductions from 15% to 25% for contributions of food inventory.
- Employer Student Loan Repayments - Public Service Loan Forgiveness (PSLF): The CARES Act includes several other provisions relating to student loans, including an interest free suspension of payments due on certain federal loans until September 30, 2020. Excludes employer student loan repayments from taxable income of up to $5,250.
- Recovery Rebates - Each U.S. resident will receive up to $1,200 and an additional $500 for every child
- Unemployment Insurance - Pandemic Unemployment Assistance (PUA) provides emergency unemployment assistance to workers left out of the regular state unemployment insurance or who have exhausted their state unemployment benefits.
Small Non-Profits (Fewer Than 500 Employees)
- Deferral of Payroll Taxes - Allows employers to defer payment of the employer share of Social Security taxes, 6.2% on employee wages.
- Emergency Economic Injury Disaster Loans (EIDL) Grants - Small Business Administration (SBA) EIDL loans are low-interest loans provided through the SBA disaster loan program to help businesses and homeowners recover from declared disasters.
- Employee Retention Credit - Provides a refundable payroll tax credit for 50% of wages paid by employers to employees during the COVID-19 crisis.
- San Mateo County Strong Fund - Non-Profit Grant Program opens May 6, 2020 at 8 am and closes on May 11, 2020 at 5 pm (or until receipt of 250 applications)
- Small Business Administration (SBA) Loans and Loan Forgiveness - Known as the paycheck protection program (PPP), provides SBA 7(a) loans of up to $10 million to certain non-profits.
Large Non-Profits (More Than 500 Employees)
- Deferral of Payroll Taxes - Allows employers to defer payment of the employer share of Social Security taxes, 6.2% on employee wages.
- Economic Stabilization Fund - Provides up to $454 billion (of the $500 billion total fund) in financial assistance to businesses, including nonprofits with between 500 and 10,000 employees.
- Emergency Economic Injury Disaster Loans (EIDL) Grants - SBA EIDL loans are low-interest loans provided through the SBA disaster loan program to help businesses and homeowners recover from declared disasters. The CARES Act expands eligibility for access to EIDL loans and provides upfront grants.
- Employee Retention Credit - Provides a refundable payroll tax credit for 50% of wages paid by employers to employees during the COVID-19 crisis.