The new stimulus bill that was signed into law December 27th includes new funding for PPP and EIDL loans, welcome news for small business owners throughout the U.S. But federal stimulus funding isn’t the only relief for small businesses available in 2021. State governors throughout the country have announced grant programs for qualifying small business owners to help them survive the remainder of the public health crisis, especially as many states have slid back into lockdown to control the spread of the virus. In this post, we are rounding up five state-level small business grant programs for small business owners. As more state governors announce their respective relief plans, we will update this post. As always, for the latest news download our free Skip app.
California: Over $500 Million in Grants
California governor Gavin Newsom announced pandemic relief grants for small businesses in early December, along with millions in tax credits. Applications for the first round of grants open December 30th, and will be open only until January 8th (apply here). Businesses can receive between $5000 and $25000 in grants. Only businesses with less than $2.5 million in annual revenue that have been open since June of 2019 or earlier are eligible.
In addition to the grants, qualifying small businesses can receive tax credits of $1000 per employee by applying for California’s Main Street Hiring Tax Credit here.
Massachusetts: $50 Million in Grants
Governor Charlie Baker of Massachusetts announced an additional $50 million in small business grants through the Massachusetts Growth Capital Corporation on December 21. The funding is an extension of a small business grant program unveiled in MA earlier this year, and the first grants during this round will go to businesses who applied but did not receive funding during the first round. We will keep you posted when applications are open again.
Pennsylvania: $145 Million in Grants
Governor Tom Wolf of Pennsylvania appropriated $145 million in funding from the state’s insurance fund to be turned into grants for small businesses throughout the state. Wolf has urged the Pennsylvania legislature to prioritize those businesses with the greatest need, but formal applications aren’t yet open.
Indiana: $31 Million in Grants
Indiana’s Small Business Restart Program was announced earlier this year, but Governor Eric Holcomb extended the application deadline and expanded the eligibility requirements on December 21. Small businesses in operation since October of 2019 or earlier can receive up to $50,000 depending on their business expenses. Applications will close on January 22, and you can apply here.
Colorado: $35 Million in Grants
New legislation passed this week in Colorado provides $35 million in grants for small businesses throughout the state. The funds will be distributed through local governments, so the small businesses are encouraged to reach out to their local city and county officials immediately to apply. Restaurants, gyms, bars and other hard-hit industries will be prioritized for funding, and only those with less than $2.5 million in annual revenue are eligible.
As state governments work to support their local economies during the crisis, more funding programs are likely to be announced soon. We will update this post as we know more about state funding options, and encourage business owners to follow along with us here on the Skip blog and on our app for more info as well as checking their state governments’ press releases and other announcements.
Other State Grants and Funding Options
In another state not included above? Stay tuned! We'll keep you posted as new options emerge. Be sure to download the Hello Skip app to be notified first of new grants and funding opportunities.
In Other Stimulus News
Here's the latest from our YouTube channel today on the $2,000 stimulus check amendment passing in the House.