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7 Companies Offering COVID-19 Relief Funds For Diverse Business Owners – Forbes

With COVID-19 has come a lot of uncertainty. We are still trying to understand the long-term impacts of the virus. Different populations around the world are attempting to navigate and recalibrate. The financial devastation that many employees and businesses are facing is unimaginable. Given these unique and unprecedented circumstances that are being experienced by many, resources and relief are desperately needed. The Small Business Administration is now reporting that the $349 billion Payment Protection Program that was being awarded on a first-come first-serve basis to financially impacted small business owners, has reached its limit and there is no more money left. Diverse populations are undergoing some of the worst impacts of COVID-19, reports indicate, with lower-income people of color getting hit the hardest. There are several small and large companies that recognize this growing need for help. Below is a list of seven organizations that are providing aid for women and diverse populations impacted by COVID-19.

1.    The Verizon Small Business Recovery Fund: One of the U.S.’s most popular cell phone companies, Verizon, has pledged to help small businesses impacted by COVID-19. The Verizon Small Business Recovery Fund is offering grants to business owners facing financial hardship, particularly focusing on business owners of color, women, and other marginalized groups. $10,000 grants will be offered to those who qualify. To fill out an application, visit their website.

2.    AssistHer Emergency Relief Grant: Texas Women’s University has created a grant for those whose businesses have been negatively impacted by COVID-19. The grant is for $10,000 and is designed to help women-led businesses located/operated within the state of Texas. To read more about eligibility requirements, visit their website. Those who fill out a grant application will be notified within 30 days regarding approval status.

3.    South Asian Arts Resiliency Fund: The India Center Foundation is now offering support to those of South Asian descent who are arts workers and have been negatively impacted by COVID-19. The grant focuses on those who work as dancers, choreographers, poets, actors, musicians, producers and other arts workers. Project grants of $1,000-$2,000 will be distributed. To learn more about the grant and to see application criteria, click here.

4.    The Your Friends in New York Business Relief Fund: Men’s and women’s fashion label Pyer Moss announced March 18th, 2020 on their Instagram page that they were turning their NYC office into a donation center for N95 masks and latex gloves. In addition, a relief fund has been established for women and minority businesses negatively impacted by COVID-19. The Your Friends in New York Business Relief Fund is awarding grants of different amounts to business owners in need. To learn more about the relief fund, click here.

5.    The Red Backpack Fund: Women’s undergarment company Spanx has announced that a donation of $5 million is going to support women business owners who have been negatively impacted in some way by COVID-19. 1,000 female business owners within the United States will receive $5,000 of funding. Applications will be open until August. To learn more about the relief fund and how to apply, click here.

6.    Facebook: The largest social networking site in the word, Facebook, recently announced that $15 million will go to helping small business owners negatively impacted by COVID-19. Facebook’s chief diversity officer Maxine Williams shared that 50% of the grants would be prioritized for minority, women and veteran-owned businesses. To learn more about application requirements, visit the grant website.

7.    The Doonie Fund: A social startup called digitalundivided is now providing relief for those impacted by COVID-19. Through a new fund called The Doonie Fund, named after the CEO’s grandmother, aid will be provided specifically for Black female entrepreneurs who have experienced hardships as a result of COVID-19. The fund, which was established on April 5th, 2020 has helped more than 93 entrepreneurs by providing micro-investments of $500 or less. Eligible entrepreneurs can apply through their website.  



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