CLEVELAND — Beginning Monday, April 20, the U.S. Chamber of Commerce Foundation will launch its Save Small Businesses Fund to help a vital foundation to the economy during the COVID-19 pandemic.
The fund will work to distribute $5,000 grants to small businesses around the country in “economically vulnerable” neighborhoods. The eligible neighborhoods are those ranked in the bottom 80% of the most economically distressed zip codes in the United States by the Distressed Communities Index.
The U.S. Chamber of Commerce Foundation allows those interested in applying for the grants to check their zip code to see if they’re in an eligible location. Many Northeast Ohio zip codes have been listed as eligible. Click here to check yours.
In addition to being located in an eligible zip code, applicants must employ between three and 20 people as well as been harmed financially as a direct result of the COVID-19 pandemic.
Applications will be accepted beginning at 3 p.m. Monday afternoon.
The application will take around 10 minutes to complete and the only thing applicants need on hand is their business's W-9 form.
According to the U.S. Chamber of Commerce Foundation, the grants will be distributed once a week but only one application is necessary to be eligible for any future distribution.
To apply on Monday at 12 p.m., click here.
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The federal government has begun distributing $1,200 Economic Impact Payments to millions of Americans to help relieve the economic burden caused by coronavirus. Click here for everything you need to know about checking the status and receiving these payments.
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