U.S. Chamber of Commerce’s New “Save Small Business Fund” Provides Grants to Eligible Small Businesses
The United States Chamber of Commerce Foundation has established the Save Small Business Fund to provide eligible small businesses impacted by the COVID-19 pandemic with a one-time $5,000 grant. To be eligible, the business must be located in an economically vulnerable community, have between three and 20 employees (not including independent contractors), and have been harmed by the pandemic. The grants must be applied towards business expenses, and the foundation will send follow-up surveys to learn how the grant money was spent by recipients.
An economically vulnerable community is defined as the bottom 80% of the most economically distressed zip codes in the United States, as ranked by the Distressed Communities Index. Before starting the application process, business owners must enter the zip code shown on their W-9 form to confirm their eligibility based upon this criterion.
The grant application became available on April 20, 2020. The application form is expected to take about 10 minutes to complete and requires only the business’s W-9 form to be submitted. Grants will be awarded on a weekly basis, but a business need only apply once to be eligible for funding.
The application and additional information can be found here: https://savesmallbusiness.com/.
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