Save Small Business Fund
By: Timothy Lynn
The U.S. Chamber of Commerce is rolling out an interesting new program for small employers. The program offers $5,000 grants to small businesses (employing between 3 and 20 people), located in an economically distressed community, and that has been harmed by the COVID-19 pandemic.
The application is coming out on April 20, 2020. It appears it will be an ongoing process, with awards made weekly (but a business need only apply once).
The website for the program, Save Small Business Fund, provides a tool for plugging in your zip code to determine if you are qualified by location. The application is not out yet, but they provide an email list signup for further information as it rolls out on Monday.
The grants may have tax consequences that should be discussed with a business’s attorneys/accountants.