This week, small business owners were dealt a blow when the SBA announced that the PPP program had run out of funding, and thousands of business owners are still waiting on Targeted EIDL Grants.
Luckily, there are private funding opportunities that can fill the gap. The GoFundMe Small Business Relief Fund is a grant opportunity that has provided thousands of business owners with one-time grants. Here’s what you need to know about the program and how to apply.
How Much Can You Receive?
The GoFundMe Small Business Relief Fund offers matching grants of $500 to small businesses who have already raised $500 on the platform. To be eligible, you must have been impacted by the pandemic and intend to use the funds to pay employees or business expenses and be independently operated. Beyond that, any small business owner can apply.
How Can You Apply?
Applying for the relief fund is simple. Start a GoFundMe campaign for your business to help recoup some of your costs of recovery from the pandemic. Include the hashtag #SmallBusinessRelief in your fundraiser story. Then, fill out an online form on the GoFundMe website. Once you raise $500 on your own, you’ll be eligible to be considered for the grant.
How Many Businesses Have Been Funded?
The program was launched on March 24, 2020. Since it began, 5,000 U.S. small business owners have received $500 grants from GoFundMe. In total, the fund has distributed over $2.7 million so far.
How Long Will the Fund Be Open?
Unlike many grant programs, the GoFundMe Small Business Relief Fund has no stated end date. As long as there are still funds available, GoFundMe plans to continue distributing payments. However, since grants depend on availability, we suggest applying soon.
Looking for More Grants Info?
The GoFundMe Small Business Relief Fund is just one of the hundreds of grant and loan opportunities available to U.S. small business owners recovering from the pandemic and beyond.
We have curated opportunities available for our Skip Plus users at the local, state and national level for every type of small business. You can receive a twice-weekly email with new funding opportunities in your inbox, plus exclusive articles, videos and other content.
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