Government Assistance Programs For Business

Assistance For Small Businesses

Government Funded Program for Startup Businesses

The COVID-19 public health crisis and resulting economic crisis have created a variety of challenges for small, micro, and solo businesses in communities across the country. The Treasury Department is providing critical assistance to small businesses across the country, facilitating the urgent deployment of capital and support to help these organizations not just persevere, but recover on solid footing.

Sme Recovery Loan Scheme

The Governments SME Recovery Loan Scheme is designed to support the economic recovery, and to provide continued assistance, to firms that received JobKeeper and also to firms that are eligible flood-affected businesses. Loans are available from 1 April 2021 until 31 December 2021.

See more:

SME Recovery Loan Scheme

City Of San Diego Covid

CARES Act Revolving Loan Fund provides economic assistance to City of San Diego or City of Chula Vista businesses impacted by the COVID-19 pandemic. The low-interest loans, which range from $25,000-$95,000, are intended to help entrepreneurs adapt their business models to operating under pandemic restrictions, to promote economic resiliency, and to support the retention or creation of jobs. Please note that the loans funds are not to be used for emergency working capital expenditures such as payroll and rent.

Loan funds are intended to be applied toward future purchases of goods or services necessary for improve business operations and resilience amid pandemic safety restrictions and social-distancing protocols. Permitted expenditures include the purchase of air-filtration or touchless point-of-sale systems expansion of online business capacity or seating, umbrellas or heaters for outdoor business operation. Eligible businesses must have at least one employee on payroll and not be home-based, among other restrictions. Not sure whether your business qualifies? Read the full program details and take the interest questionnaire by clicking the button below:

Grants may be awarded in advance of construction, with LMA businesses and low-income majority owners receiving expedited, priority processing. Read full program details and apply by clicking the button below:

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Build A Strategy For Ontario Government Funding

Ontario businesses can access grants and loans through federal government funding, federal funds targeted at businesses in northern Ontario and southern Ontario , and Ontario provincial government funding. There are many sources of funding, which makes strategic planning critical to funding success.

Companies should build a government funding strategy that uses funding programs to reduce the cost of strategic projects. One of the best government funding tactics to use is stacking together different types and sources of funding. This can significantly improve the scope and success of projects. Please note that multiple federal or provincial programs cannot be stacked only one federal and one provincial funding program may be used per project.

Sydney Cbd Friday Voucher Program

Coronavirus Government Relief Programs for Small Business

The NSW Government has announced a new voucher program to encourage the community back into the Sydney CBD and support businesses impacted by COVID-19.

The program will offer 500,000 NSW residents 4 x $25 vouchers to spend at dining and entertainment venues in the Sydney CBD on Fridays.

Eligible COVID-Safe dining and entertainment businesses in the 2000 postcode will be able to register for the program in late 2021.

We’ll have more information available soon.

Information For Other Or Previous Grant Recipients

Businesses that receive a grant under the Licensed Hospitality Venue Fund 2021 are not eligible for a grant under this program.Businesses that meet the eligibility criteria and have received assistance through the previous three rounds of the Business Support Fund, payroll tax rebate/waiver, or other COVID-19 business support programs are eligible to apply for a grant under this program.For more information see frequently asked questions .

Don’t Forget Local Sources

There are other sources of government assistance for small business. Individual states, and in some cases, large local governments, also manage assistance programs aimed at small businesses.

The Governor’s Office of Business in California, for example, offers more than a billion dollars of annual incentive programs, mostly aimed at small and medium business. The programs include:

California Competes Tax Credit

Advanced Transportation and Manufacturing Sales and Use Tax Exemption
Research & Development Tax Credit
Employment Training Panel

Economic Development Rate Program

Whatever state your business is in, similar incentive and financing programs are likely to exist, so start exploring.

References

Natural Resource Sales Assistance Program

In addition to the billions of dollars spent purchasing goods and services, the federal government also sells large amounts of natural resources and surplus property. The SBA Natural Resource Sales Assistance Program sets aside a percentage of these goods for bidding by small businesses only. In addition, federal agencies sometimes divide surplus materials into smaller parcels, making it easier for small businesses to purchase. The five categories are:

Timber and related forest products.

Strategic materials.
Leases involving rights to minerals, coil, oil and gas.
Surplus real and personal property.

The program also provides training for small businesses on government sales and leasing.

Gofundme Small Business Relief Fund

Rental assistance, small business relief programs announced

Crowdfunding company GoFundMe has partnered with partners to provide a COVID-19 relief fund for small businesses. Your business may receive a matching grant when you raise $500 through your own GoFundMe campaign, as long as you can verify that your business has been negatively impacted by the coronavirus. Funds must be used to pay business expenses or care for employees.

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Collaboration And Helping Each Other Are In Our Dna

During this period of uncertainty, entrepreneurs have many questions regarding how to stay in business or determine the financial difficulties this pandemic could cause.

Each business or organization is different and requires personalized solutions tailored to its own situation. Before making decisions that will affect your financing or the future of your business, please contact one of our account directors today to discuss your situation. We will help you identify the measures available and guide you in the days ahead based on your business strategies.

Economic Injury Disaster Loan

Also known as EIDL, this is another program overseen by the SBA and provides economic relief for small businesses as well as nonprofits that have suffered from a temporary loss of revenue. The assistance can be used to pay for financial obligations or operating expenses that a business would have been able to cover on its own had the pandemic not occurred.

Like the PPP, this program has been around for a while but has one key difference.

Its not forgivable, Banda said. But its still a pretty good option for businesses.

Borrowers can also apply for both the PPP and EIDL, but funds from both are not allowed to be used for the same purpose. Applicants also must be physically located in the United States and have fewer than 500 employees.

The maximum loan amount is $150,000, with loans above $25,000 requiring collateral. The interest rate is 3.75% for businesses and 2.75% for nonprofits, with payment terms up to 30 years.

For more information or to apply for a loan, visit the SBAs official EIDL website.

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Assistance For Indigenous Businesses

Indigenous Business Australia is offering support to Indigenous businesses impacted by COVID-19, including those that are not existing IBA customers.

Designed in collaboration with the National Indigenous Australians Agency, assistance may include:

loans, grants or a combination of both to help with ongoing fixed costs

access to specialist advice to help businesses through the COVID-19 crisis
videos on how to manage a business during the pandemic.

For more information, visit Indigenous Business Australia.

Good For: Community Businesses

Key government financial programs & business aid

The Caleb Brown Venture Capital and Consulting Project hosts a $1,000 grant aimed at promoting and nurturing young urban entrepreneurs with vision who plan to rebuild local blocks, neighborhoods, and communities by providing training and jobs to the next generation. The grant is open to startups and young businesses in urban areas. This contest is run every monthsubmit your application by the 15th to enter.

Lost Wages Assistance Program

The Lost Wages Assistance program, created Aug. 8, 2020, was a federal-state unemployment benefit that provided $300 to $400 in weekly compensation to eligible claimants. The federal government provided $300 per claimant from the Disaster Relief Fund , and states were asked to provide the remaining $100.

LWA was established in response to the expiration of the FPUC program on July 31, 2020, and designed to offer compensation through Dec. 27, 2020.

Assistance For Providers Enrolled In Medicare

The Centers for Medicare & Medicaid Services announced expansion of its accelerated/advance payments program to a broader list of suppliers, including audiologists and SLPs, during the COVID-19 pandemic. This opportunity could help clinicians offset some of the financial impact they are experiencing.

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Ontario Government Grant Loan And Funding Programs Mentor Works Can Write For Your Business

Ontario government funding programs can support a wide range of strategic projects, including business expansion, research and development, hiring and training, and capital investment. By being proactive and applying for funding prior to the start of projects, companies can access government grants and loans that provide a boost to company investments and greatly improve project outcomes.

Many of these programs are offered by Federal Economic Development Agency for Southern Ontario and Federal Economic Development Initiative for Northern Ontario .

The Ontario business grants and loans listed on this page may offer support for your organizations upcoming projects. To discuss your eligibility for them and receive assistance with the application process, please contact Mentor Works.

Mentor Works team of Canadian government grant & loan application writers have an average success rate of 86% across all government funding programs and provide our clients with an average of 95% time savings. Speak with a member of our team to find out what programs your business may be eligible for by calling us at or visiting our Get Funding Help page.

Use the filtering options below to help sort the available Canadian government funding programs.

How To Apply For A Small Business Grant

PTAP: Connecting Business To Government (Open Captions)

Work smart AND hard. Instead of filling out an individual grant application, do what every job applicant does and create a resume for your business that outlines your answers to the common questions business grant-givers ask of their applicants. While grants are technically free money, that doesnt mean they come without hard work on your part.

Some applications will vary based on whats required. For example, a local government grant will likely require an explanation of how your businesss growth and development will benefit local commerce directly, while a grant from a private company like FedEx may require a persuasive video.

Here are a few common details you may need to provide when applying for a business grant:

Time in business

How the funds will be used

Your businesss elevator pitch

Your Employer Identification Number

Your social media handles

A photo of you . Tip: A professional photo can go a long way, especially for companies looking to use your image on their site when announcing awards.

A business plan. You should already have one, but if you dont, talking to an SBDC adviser or your accountant can help you figure out the numbers, projections, and stats that reflect the current health of your business and where you can go down the road.

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Federal Government Assistance Programs For Small Business

What’s the Difference Between a Grant & Subsidy?

Your wealthy Uncle Sam spends hundreds of billions of dollars every year purchasing goods and services, dispensing grants and entering into contracts. Much of those funds are available as federal money for small business. There are numerous sources of non-federal funding as well. But you have to know where to look.

Cons Of Government Homeownership Programs

Higher mortgage insurance costs

Restrictive government property standards
Limited to primary residence
Not competitive with multiple offers

On Aug. 26, 2021, the Supreme court struck down the latest Centers for Disease Control and Prevention eviction moratorium set to expire Oct. 3, 2021. Pending further action by Congress, COVID-related eviction protection on a national level has ended.

Business Grant Vs Business Loan: Whats The Difference

While both help you get money for your business, grants and business loans for small businesses are different beasts. The main difference between a grant and a loan is whether or not they require repayment. Loans require you to repay the money you borrow a grant does not. Grants can be awarded by government departments, trusts, or corporations and given to individuals, businesses, educational institutions, or non-profits.

Grants can be notoriously difficult to get, so if you apply for funding and are rejected, consider other financing, including business credit cards.

Here are other things to know about the differences between grants and loans.

Grants Are Taxable Income. The IRS generally considers business grants as income for tax purposes. How your business is structured and how you report income to the IRS will determine what impact this will have on you come tax time, but generally, expect that a chunk of any grant money will go to Uncle Sam. You can head off this potential business grant downside by planning ahead and asking your accountant or tax professional to factor any grant money youre awarded into your quarterly estimated payments or to help you estimate owed taxes and set aside those funds so you dont have a larger-than-expected bill come tax time. Loans, however, are not considered income in the eyes of the IRS.

Dine & Discover Nsw Voucher Scheme

Veteran Entrepreneurship Programs by the SBA (SBA 9 ...

The NSW Government’s Dine & Discover Voucher scheme supports hospitality, arts and tourism businesses.

Four vouchers, worth $25 each, are available to every NSW resident. They can be used for:

dining in at restaurants, cafes, bars, wineries, pubs and clubs

takeaway meals
entertainment and recreation, including cultural institutions, live music and arts venues.

Vouchers are valid until June 2022.

Eligible businesses can register now for the scheme. For more information, visit Dine & Discover NSW.

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How To Find A Grant For A Small Business

A quick Google search will pull up millions of results for business grants. So many possibilities are out there that it can seem impossible to narrow down the prospects. But there are a few resources that can not only help you find the right grants for your business, but even assist in the application process, and help you identify grant opportunities that cant be missed.

Other Government Funding Options For Your Business

These federal and state programs can also help finance your business:

Small Business Investment Company Program – The SBA partners with private investment funds licensed as SBICs to provide growth capital to small businesses. Find out if SBIC financing is right for your business.

Small Business Innovation Research and Small Business Technology Transfer Programs – The SBIR/STTR programs are competitive and awards-based. They encourage small businesses to pursue federal research or research and development projects. While exploring their technological potential, businesses can profit from commercialization. Learn how to apply.
State and Local Business Assistance – Find out about state and local business financial assistance where you live. This includes financing for business expansion, state credit initiatives, and more.

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Vita And Tce Tax Filing Assistance Programs

The IRS has two in-person tax assistance programs: the Volunteer Income Tax Assistance program and Tax Counseling for the Elderly . Both offer free tax-preparation assistance to qualified individuals. VITA generally applies to you if your income is $57,000 or less, you are disabled, or you have limited English-speaking skills. TCE is for citizens aged 60 or older.

You can find VITA and TCE program sites using either the IRS TCE/VITA locator tool or the AARP Foundation Tax-Aide site locator tool.

Due to the coronavirus pandemic, all TCE sites and many VITA sites are closed until further notice. Use the VITA locator tool to find out if a site near you is open.

Coronavirus Food Assistance Program 2

Federal government earmarks billions for new pandemic support programs

This program is administered by the USDA and was re-launched on April 5 after signups ended on Dec. 11. The program provides financial assistance to farmers, ranchers and other producers to absorb increased costs from market disruptions caused by the pandemic. Assistance is based on the type of commodities grown or raised by farmers and ranchers.

Commodities that are eligible for Coronavirus Food Assistance Program 2 assistance include:

Specialty crops
Floriculture

Nursery crops

The launch of CFAP 2 coincides with an increase in payment rates for commodities such as cattle under the original CFAP program.

We did what we call additional top-up payments to folks who were already signed up and each commodity had a payment rate, said Gus Wegren, acting state executive director for the USDA Farm Service Agency in Nevada. The first CFAP round accounted for nearly $26.7 million in payments for Nevada producers alone and more than $1.2 billion in California.

The USDA also expects to make $4.5 billion in payments to 560,000 producers as part of new CFAP 2 funding that pays $20 in assistance per acre. Total funds for the second round of CFAP 2 funding amounts to about $6 billion, Wegren said. There is a payment limit of $250,000 for each applicant but exceptions also exist for legal entities that have multiple members that provide active labor or personnel management. Examples include cattle operations that are set up as limited liability companies.

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Economic Injury Disaster Loans

An Economic Injury Disaster Loan helps small businesses and nonprofits that are losing money during the coronavirus pandemic and that need funds for financial obligations and operating expenses.

SBA is accepting applications for EIDLs until December 31, 2021.