Small Business Grants Available, Apply by June 17June 16, 2020
Applications Close Wednesday, June 17
Verizon and LISChave opened up a new round of funding to support small businesses that are faced with having to close their doors to help fight the spread of the COVID-19 virus. LISC will use the funds to provide grants of up to $10,000 to businesses facing immediate financial pressure, especially entrepreneurs of color, women-owned businesses, and other enterprises that don’t have access to flexible, affordable capital in historically under-served communities.
Round 4 application period is now open. All applications must be submitted by Wednesday, June 17th at 11:59 PM ET. For questions, please review our grant information and FAQ.
Para leer esta información en español, haga click aquí
Applicants may apply for one business only and must be 18 years of age to apply. For business owners with multiple businesses, please complete this application based on your largest business owned. Each grant is limited to one individual/business.
Awards will be made to qualified businesses, and eligibility is based on accurate and complete submission. Priority will be given especially to entrepreneurs of color, women- and veteran-owned businesses and other enterprises in historically under-served places who don’t have access to flexible, affordable capital.
All awardees will have to certify that they are promoting the best interests of the community and are negatively impacted by the Covid-19 crisis.
Non-profit organizations are ineligible for this particular pool of relief funding. Be sure to check LISC’s Covid-19 Resource Page: https://www.lisc.org/covid-19/covid-resources/ for the latest resources available to nonprofit organizations and individuals.
Conflict of Interest
Current directors, officers, employees and contractors of LISC, Verizon and Sam’s Club and such individuals’ family members (spouse, parents, children, grandchildren, great-grandchildren, and spouses of children, grandchildren, and great-grandchildren) are not eligible to apply or seek an award.
If awarded, please be advised that the business/applicant’s application information, name, statements, and other information provided during the award process may be used for promotional purposes in all forms and media and the business/applicant may be contacted by LISC and/or the program sponsors for such purposes. Applicant grants to LISC and the program sponsors a perpetual license to use such information without additional compensation (except where prohibited by law), and without any right to review and/or approve such content. Until notified, applicants must agree not to share any status as finalist publicly, including but not limited to all social media platforms, news media, or local publications.
LISC may monitor and conduct an evaluation activity funded by the Small Business Recovery Grant. This might involve a review of quantitative or qualitative data needed to understand the impact of the fund.
Frequently Asked Questions
Para leer esta información en español, haga click aquí
What are the size of the awards?
Grants will be made in the amounts of $5,000, $7,500, $10,000 and $20,000.
If I applied in a previous round, do I have to apply again or will my application roll-over?
Applications do not roll over to later rounds. You must submit a new application for each round of grants in order to be considered for funding in that round.
Can I change my application after it’s been submitted?
No, you cannot change the application once it’s been submitted. It is recommended that before completing and submitting the online form, respondents save their answers in a separate backup document, as your work may not be saved if you leave the web page before submitting the application. You may also lose your work if your internet is disconnected, or as a result of other potential web browser issues. We cannot accept changes to your application once it has been submitted, so please review it carefully.
Do grant applicants receive a confirmation that they submitted their application?
Every applicant receives a confirmation screen that follows if all fields are filled out correctly and after hitting “done”.
When will portal close for submission?
Applications are being accepted in “rounds”. A round is open for one week and then closed. Dates for each round are posted on the LISC website so check back frequently.
What is Registration?
You may register here to be notified of grant rounds opening.
How will I be contacted or know if I will receive a grant?
LISC will utilize email to communicate with all applicants. Be sure to check email regularly, including spam folders. Email updates to all applicants will come from LISC Small Business Relief Grant Program (email@example.com). Finalists will receive next steps from Small Business Relief Grant Finalist.
Finalists will be notified by email and must respond promptly. The return of any grantee notification message or document as undeliverable may result in disqualification of the applicable grantee, the forfeiture of his or her interest in the grant and the selection of a substitute from among all remaining eligible finalists.
Will there be additional documentation required?
If your business is selected as a finalist, you will be notified via email. Being selected as a finalist does not guarantee a grant will be awarded. As a finalist, additional documentation will be required, including SSN, TIN/ITIN and/or EIN for the applicant and/or the business in order for us to perform the due diligence required by the program’s funding source. This due diligence inquiry may include a background search that we will conduct at our expense. If the due diligence step is successfully completed, we will ask for W-9 and appropriate banking information so that we may transfer funds by ACH to your designated account.
All taxes associated with the acceptance and/or uses of cash awarded are the sole responsibility of the individual grantee. Cash awarded will be reported by LISC to the IRS as LISC deems necessary according to applicable law. It is further the policy of LISC that all LISC grantees be advised to consult with their own tax professionals and/or legal counsel to ascertain the tax impact of the cash awards. LISC will issue a Form 1099 for any grant of $600 or more. The Grantee shall fully comply with all applicable federal, state, local (and any other governmental) laws, executive orders, rules, and regulations in connection with its use of grant funds.
Will receiving a grant impact unemployment insurance eligibility? What if I apply for benefits after I receive a LISC grant?
A grant may affect your unemployment insurance claim if the grant is used to pay payroll expenses during the period you receive unemployment benefits. The amount of unemployment assistance is usually determined by recent earnings, and most likely, you will have to certify on a weekly basis to any income received the previous week as wages. Please consult your state’s unemployment office for more information about unemployment insurance claims.
Have additional questions?
We are monitoring inquiries sent to SmallBusinessGrants@lisc.org and will be posting answers and updates on this landing page in an effort to support transparency and equal access to information for all applicants.
LISC is one of the country’s largest social enterprises supporting projects and programs to revitalize underserved communities and bring greater economic opportunity to residents. We invest in affordable housing, quality schools, safer streets, growing businesses and programs that connect people with financial opportunities. In response to the pandemic, we are delivering resources and expertise to support communities, businesses, and people. Learn more here.