U.S. Chamber of Commerce Foundation offers funding for small businesses
Editor’s Note: Due to an overwhelming number of applications, the U.S. Chamber of Commerce Foundation is unable to take new applications for the Save Small Business Fund. The organization received over 15,000 applications in minutes after opening the fund. Those who submitted an application will be notified by the organization if it results in a grant. The organization is continuing to take contributions to supply the fund.
The U.S. Chamber of Commerce Foundation has launched an initiative, Save Small Business Fund, to provide economic relief to small employers across the country, including Graham and Young County.
USCCF states that small businesses are the foundation of our country. They employ close to half of the workforce in America, and keep communities and neighborhoods running.
“Small businesses are the heartbeat of the American economy. They make our communities more vibrant and employ nearly half of our nation’s workforce,” Yagmur Cosar, Director of Communications for the USCCF, wrote. “According to a recent poll conducted by MetLife and the U.S. Chamber of Commerce, one in four – a full quarter of the nation’s 30 million small businesses – are on the brink of permanent closure. These businesses need all the help they can get, and they need it now.”
In an effort to support small businesses, the foundation is providing $5,000 grants to as many small employers as possible. Their grant application process opened on April 20.
According to the Save Small Business website to qualify for the grant, a business must employ between three and 20 people, be located in a community that is economically vulnerable and have been financially impacted by the COVID-19 pandemic.
The Save Small Business website has a zip code search to ensure a business is located in an eligible area. Graham businesses qualify based on the 76450 zip code.
The application is simple, according to the website. It will take about 10 minutes to complete and all that is needed is the business’ W-9 and other basic information. Once a business applies, they are eligible for the funds and do not need to reply.
Employers who meet all the requirements will be awarded grants on a rolling basis by the U.S. Chamber of Commerce Foundation. These funds will be awarded weekly until all the funds are used, so the number of grants awarded will be based on demand and available funds.
“In this unprecedented time, every dollar counts,” Cosar wrote. “We hope that these supplemental grants will help small employers get through the next days and weeks and on the road to recovery, so they can continue to serve their customers, employees, and communities.”
For more information on the Save Small Business Fund visit https://www.savesmallbusiness.com/.