UPDATE: SBA funding became available for businesses in Missouri on March 21. Call MOSourceLink at 866-870-6500 to get connected with Resource Partners that can help with paperwork.
MOSourceLink helps match entrepreneurs and small business owners who need funding with the right resources for their business needs and stage. Give us a call if you’re looking for general funding and financial assistance information. We'll continue to track disaster relief funding and post those opportunities below.
Did we miss one you know about? Let us know. Email firstname.lastname@example.org, subject line: RESOURCES
Financial Response to COVID-19: Things You Can Do Now
(Source: Missouri SBDC at UMKC)
Once you’ve cared for your all-important human capital, you should quickly begin conserving and planning for your company’s financial capital. Start thinking through the following cash flow management practices.
Low-Interest Disaster Loans (3%) from Your Fans: WeFunder
Raise funding from your fans on very generous terms. Payments based on revenue and deferred until 2021. Reward investors with perks when business is back.
No interest, crowdsourced microloans up to $15K.
U.S. SBA Economic Injury Disaster Loan
(Source: U.S. Small Business Administration)
UPDATE: Due to the amount of traffic on the Small Business Administration’s loan application website and long delays in processing time, the SBA is rerouting applicants to fillable PDF forms. Forms will need to be downloaded, filled out and uploaded to SBA’s Dropbox account.
SBA funding is available for businesses in Missouri. Call MOSourceLink to get connected with resources who can help you with the paperwork.
The SBA offers several types of low-interest loans, including the Economic Injury Disaster Loan.
For those states that qualify, the Economic Injury Disaster Loans provide working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). As of the date of this update, Missouri and Kansas are both working to complete the required steps for requesting an SBA Economic Injury Disaster Loan Declaration.
You may be asked to fill out a simple, one-page Economic Injury Worksheet. You can do that now.
And here are further steps you can take now to apply for an Economic Injury Disaster Loans, if you live in Kansas.
U.S. Small Business Administration Fact Sheet in English and Spanish
For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail email@example.com.
Automatic Deferment on Existing SBA Disaster Loans through End of 2020
This change makes deferments through December 31, 2020, will be automatic. Now, borrowers of home and business disaster loans do not have to contact SBA to request deferment.
Facebook Small Business Grants Program
Facebook is offering $100M in cash grants and ad credits through their Small Business Grants Program.
JPMorgan Pledges $5M to Assist Small Businesses in the United States
(Source: JPMorgan Chase & Co.)
JPMorgan Chase Institute research shows that 50 percent of small businesses have less than 15 cash buffer days, meaning the small business economy could be majorly disrupted by the current climate. The firm will promptly deploy $8 million, including $5 million in the U.S. and $3 million in international markets to support vulnerable and underserved small businesses.
Verizon and LISC Fire Up $2.5 Million Small Business COVID-19 Recovery Fund
These grants help small businesses fill urgent financial gaps until they can resume normal operations or until other more permanent financing becomes available.
Nav: Small Business Grant Contest
Nav is giving grants to small businesses that tell a story of preservation and opportunity in the face of a past or ongoing challenge. Apply by May 30
Alice Offers Emergency Grant
Hello Alice is offering $10,000 grants being distributed immediately to small business owners impacted by coronavirus.
Food and Beverage Industry Relief Fund
(Source: James Beard Foundation)
To help bring swift economic relief to these essential businesses, the James Beard Foundation is launching a fund that will be gathering support from corporate, foundation and individual donors to provide micro-grants to independent food and beverage businesses in need.
Bartender Emergency Assistance Program
(Source: USBG National Charity Foundation)
Grant assistance is available for through this program if you meet the requirements. You do NOT need to be a USBG member to apply for a philanthropic grant.
Mainvest and Zero-Interest Loans
If you have an existing brick & mortar business that has been negatively effected by the COVID-19 outbreak and you launch a capital raise on Mainvest, you may be eligible to receive a $2,000 zero-interest loan immediately*. Then through your capital raise, you can receive over $100,000 of investment from your community.
AltCap: Alternative Capital for Community Impact
If your Kansas City small business is experiencing difficulties during this time due to the loss of customers and income, supply chain disruption, or other issues, AltCap has modified its Fast Track Loaan, which offers(up to $20,000 in interest-only financing within 48-hours to help get you through this challenging time. Please reach out to AltCap’s business development team to discuss options for accessing capital and how AltCap can support you.
As a Community Development Financial Institution (CDFI), AltCap is on the frontlines of disaster recovery efforts helping communities weather the effects of natural disasters, recessions and other significant economic events. AltCap is in communication with the U.S. Small Business Administration and local and state government officials to help ensure any available federal relief funds are mobilized locally to support small businesses during this challenging time.
Ameren Energy Assistance for Employees
If any of your employees have been affected by reduced hours or closings, let them know that Ameren is providing $1,000,000 in energy assistance to residential Missouri customers affected by COVID-19. To apply visit https://uwgsl.tfaforms.net/4602908
Gateway Resilience Fund
(Source: St. Louis Community Foundation)
As a resource for individuals who are employees or owners of independent businesses affected by this crisis, the Gateway Resilience Fund has been established to provide short-term assistance. The fund is providing $1,000 in direct payment of bills to vendors or $500 directly to applicants. In addition, the St. Louis Downtown Community Improvement District (CID) is offering $5,000 grants to affected small, locally owned businesses in its 180-block area. This will be updated as more resources are identified and become available.
Small Business Resource Fund
(Source: St. Louis Partnership)
The St. Louis Economic Development Partnership and the St. Louis Development Corporation are offering a 0% percent interest loan program for small businesses in the City of St. Louis and St. Louis County that have sustained economic damage due to the COVID-19 crisis. For questions about the program, please email firstname.lastname@example.org.
St. Louis Art & Music Fund
This helps musicians and bands offset by canceled gigs.