Beginning at 3 p.m. today, the U.S. Chamber of Commerce Foundation is launching a “Save Small Business” grant program, aimed at providing short-term relief of up to $5,000 to small employers who are struggling due to the COVID-19 shutdown.
To qualify, businesses must employ between three and 20 workers; demonstrate they have been harmed financially by the coronavirus; and are in an “economically vulnerable” community.
The chamber said the application takes about 10 minutes to complete, and that all a business needs to apply is its W-9 form. Grants will be awarded on a weekly basis, but businesses only need to apply one time to be eligible for funding.
Once the grantee has been notified and submitted payment information that meets compliance checks, it will take three to five days to process the payment. The number of grants awarded will be scaled in proportion to the demand and available funds, which are being provided by various corporate and philanthropic partners.
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The Save Small Business Fund is administered by the U.S. Chamber of Commerce Foundation. The Chamber Foundation is a private sector 501(c)(3) charity affiliated with the U.S. Chamber of Commerce and is not a government agency.