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For a list of resources, please visit our COVID-19: Small Business Resource page.
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COVID-19: Small Business Resources

Our hearts go out to you, your families, and all of our communities during this uncertain time. While this is a challenging, scary situation for everyone, we know that it is especially difficult for those, like so many of you, who are working to build a new business or keep a small, local business afloat. Now and always, you are our greatest inspiration. Below, please find a list of resources for small businesses during this difficult time.

For the latest COVID-19 health information and related campus announcements, please visit: https://coronavirusupdates.uchicago.edu

View the Small Business Bootcamp recorded sessions.

Acknowledgements:

The Polsky COVID-19: Small Business Resources guide is made possible by a community of Booth students (Naila DharaniFaisal AkkawiJennifer LinkerBalthazar BergkampKate Sercombe, and Graham Lombardi), Booth professors Marianne Bertrand and Sendhil Mullainathan, SSA Professor Nicole Marwell, staff from the Polsky Center for Entrepreneurship and Innovation, the Office of Civic Engagement, the Rustandy Center for Social Sector Innovation, as well as Accion and LISC.

Financial & Logistical Support

  • The Mansa Fund, Lee Moulton founded The Mansa Fund to help bridge the funding gaps that are putting promising Black and LatinX businesses at a disadvantage.
  • Paycheck Protection Program: Coronavirus Assistance — Coronavirus Assistance – Small Businesses
  • Workest: A list of top SBA lenders and whether they are accepting loan applications under the Paycheck Protection Program (PPP)
  • UChicago: Community Support | Coronavirus Updates 
  • Baker Donelson: Forgivable Small Business Loan, Paycheck Protection Program CARES Act
  • DCEO: Illinois Small Business Emergency Loan Fund, The Illinois Small Business Emergency Loan Fund offers small businesses low interest loans of up to $50,000. Businesses located outside of the City of Chicago with fewer than 50 workers and less than $3 million in revenue in 2019 will be eligible to apply
  • Small Business Administration: Economic Injury Disaster Loans
    • Provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue. If you wish to apply for the Advance on your EIDL, please visit www.SBA.gov/Disaster as soon as possible to fill out a new, streamlined application. In order to qualify for the Advance, you need to submit this new application even if you previously submitted an EIDL application. Applying for the Advance will not impact the status or slow your existing application.
  • Small Business Administration: SBA Express Bridge Loans
    • Allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork
  • Small Business Administration: Local Assistance
    • SBA works with local partners to counsel, mentor, and train small businesses (e.g., help SBs craft a plan to navigate any rapid changes in demand due to covid)
  • Facebook: Small Business Grants Program
    • Cash grants and ad credits for up to 30K businesses in 30 countries
  • Local Initiatives Support Corporation: Verizon/LISC Small Business Covid-19 Recovery Fund
    • Grants of up to $10,000 from an investment of $2.5 million from Verizon to support struggling businesses, especially entrepreneurs of color, women-owned businesses and other enterprises that don’t have access to flexible, affordable capital in historically underserved communities
  • Mastercard: Small Business’ Financial Security, Mastercard Commits $250 Million To Support Small Business’ Financial Security.
  • Salesforce: Financial Relief for Small Businesses, Salesforce launched Care Small Business Grants. Salesforce will soon be offering $10,000 grants to U.S. small businesses to provide capital to help them weather the impact of COVID-19.
  • SheaMoisture: SheaMoisture Community Commerce Fund:, SheaMoisture announces a $1M Fund to support entrepreneurs of color and small businesses, driven by its long-established Community Commerce business model. The grant intends to show the power of small businesses to help communities, while also hoping to minimize the financial disruptions many are experiencing from the global outbreak of COVID-19
  • Hello Alice: COVID-19 Business for All Emergency Grant, This opportunity offers immediate grants of $10,000 to businesses affected by the coronavirus pandemic.
  • Spanx by Sara Blakely Foundation: The Red Backpack Fund, The Spanx by Sara Blakely Foundation donated $5 million to support female entrepreneurs in the wake of COVID-19 and teamed up with GlobalGiving to establish the Red Backpack Fund. GlobalGiving will be overseeing the fund, making 1,000 grants of $5,000 each to female entrepreneurs in the U.S. to help alleviate the immediate needs and support the long-term recovery of those impacted by this crisis.
  • GoFundMe, Yelp & Intuit: The Small Business Relief Initiative
    • Added functionality on Yelp for small businesses to collect donations

Information Support

Legal Support

Resource Aggregators

Mental Health Support

Resource Guide Updates

We will continue to update this resource guide as we learn of additional opportunities and information. If you have information or resources to add to this resource guide, please contact Isra Omar at iomar@uchicago.edu.

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