COVID-19 Financial Resources for Small Businesses, State by State

By Erica Gellerman, CPA on April 23, 2020

Editor’s note: The PPP and EIDL have now been replenished for round two. For the PPP, we encourage all eligible small businesses to apply now through their financial institution or through an online lender as the funds will quickly run out. For the EIDL, you can apply through the SBA website when their application portal is open. If you need 2019 bookkeeping completed for your application, Bench can help.



Over the last few weeks, COVID-19 has dominated the news and impacted businesses across the country. No one was ready for a global pandemic, but states are stepping up with money and relief programs to help small businesses stay in business.

From nationwide loans from the Small Business Administration to state-specific resources, here’s a state by state walkthrough of resources to help see your business through this.

Small business owners should also be aware of the SBA’s new Paycheck Protection Program. This program is part of the CARES Act, and is designed to give small businesses in every state and territory eight weeks of cash flow to keep employees on your payroll. A portion of the loan is forgivable if certain requirements are met. We have a full guide here.

Alabama

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

State Sales and Lodging Tax Relief: Businesses that can’t make their monthly sales or lodging tax payments for February, March, and April 2020 will have late payment penalties waved through June 1, 2020.

Bhamstrong Small Business Loan Fund: If your business is in Birmingham, there are loans from $10,000 - $25,000 available to make payroll, stay in operation, or reconfigure your business model to respond to COVID-19.

Alaska

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Alaska Microloan Program: Borrow up to $70,000 for 12 months through the microloan program to fund working capital, equipment, or construction.

Alaska SBDC workshops: If you want more education to help you manage your business through the crisis, the Alaska Small Business Development Center is offering its on-demand training online for free.

Arizona

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Community Investment Corporation: Southern Arizona businesses can apply for loans up to $10,000 to help bridge the gap in cash flow until other loans are available.

Arkansas

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Quick Action Loan Fund: Eligible small and medium-sized businesses can apply for loans or loan guarantees of up to $250,000 to pay for working capital, inventory, payroll, and other needs to help continue business operations. Applications from businesses in the supply chain of essential goods and services like healthcare, food manufacturers, and logistics will be prioritized.

Shared Work: To help avoid layoffs, businesses can reduce their employee’s hours and have the reduced pay partially offset by unemployment benefits.

California:

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Infrastructure and Economic Development (IBank) Finance Programs: The IBank finance program offers two programs: the Disaster Relief Loan Guarantee Program and the Jump Start Loan Program. The Disaster Relief Loan Guarantee Program provides loan guarantees up to $1 million. The Jump Start Loan Progam offers loans from $500 to $10,000 for entrepreneurs in low-wealth areas.

EDD Work Sharing Program: This unemployment Insurance Work Sharing Program lets businesses reduce employee hours by up to 60% while letting them partially offset their lower pay with unemployment insurance.

State tax extension: Anyone affected by COVID-19 now has an extended due date for many taxes. For example, the partnership tax return due date has been extended from March 16, 2020 to July 15, 2020. Estimated tax payments for the first quarter of 2020 are now due July 15, 2020.

City of Los Angeles Micro-Loan program: The city of Los Angeles is offering $5,000 - $20,000 no to low-interest micro-loans for small businesses impacted by COVID-19.

San Francisco Relief Fund: Emergency grants of up to $10,000 for businesses in San Francisco that employ 1-5 full-time equivalent employees.

Colorado

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

**Work-share:**This program enables businesses to keep employees working, but with reduced hours. While they are working fewer hours, they can receive partial unemployment benefits to make up for the reduced pay.

Colorado Assistance Fund: The El Pomar Foundation has a $1 million fund providing immediate assistance to non-profit organizations.

Connecticut

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Short-Term Emergency Bridge Loan: A $25 million loan fund offers 12-month loans with 0% interest. Loans of up to $75,000 are made on a first-come, first-serve basis for working capital.

Shared Work: As an alternative to layoffs, the Shared Work program allows businesses to temporarily reduce employee hours by as much as 60%. Employees can get partial unemployment benefits to make up for their smaller paychecks.

Delaware

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Hospitality Emergency Loan Program: No interest loans of up to $10,000 per month are available to cover bills like rent and utilities. These loans come with 10-year terms and payments are deferred during the first nine months. Loans are available to businesses in the hospitality and personal service industries, including restaurants, barbershops, bakeries, and accommodations.

Florida

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Florida Small Business Emergency Bridge Loans: For businesses with between 2 and 100 employees, this program offers loans interest-free working capital loans of up to $50,000.

Georgia

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Hawaii

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Idaho

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Illinois

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Hospitality Emergency Grant Program: Bars, restaurants, and hotels can apply for a grant to help meet working capital needs, like payroll, rent, and other bills. The $14 million fund provides grants up to $10,000 for bars, $25,000 for restaurants, and $50,000 for hotels.

Small business emergency loan fund: Businesses located outside the city of Chicago with less than 50 workers and less than $3 million in revenue in 2019 can apply for this low-interest loan of up to $50,000. Funds can be used to pay for working capital.

Indiana

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Iowa

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Small Business Relief Fund: Grants from $5,000 - $25,000 are offered for businesses with 2-25 employees. If this describes your business, get your application in — they are due by March 31, 2020.

Kansas

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Kentucky

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Louisiana

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Maine

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

COVID-19 Relief Interim SBA Finance Loan Program: If you have an SBA loan on the way, loans from the Finance Authority of Maine (FAME) of up to $100,000 can help pay your bills until the money arrives.

COVID-19 Relief Business Direct Loan Program: FAME offers direct loans of up to $50,000 with fixed interest rates and 12-month loan terms.

COVID-19 Relief Lender Insurance Program: FAME will insure 50% - 75% of loans made by commercial lenders to businesses, up to a max loan amount of $100,000.

Maryland

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Maryland Small Business COVID-19 Emergency Relief Loan Fund: Loans of up to $50,000 are available to businesses with fewer than 50 employees. Interest rates are 0% for the first 12 months and 2% for the remaining 36 months.

Maryland Small Business COVID-19 Emergency Relief Grant Fund: Grants of up to $10,000 are available for businesses and nonprofits with fewer than 50 employees.

90-day tax extension: Individuals and businesses will receive a 90-day tax extension. Skip any penalties as long as your taxes are filed and paid by July 15, 2020.

Massachusetts

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Tax relief: Sales tax, meals tax, and room tax that would be due in March, April, and May of 2020 are now due on June 20, 2020.

Michigan

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Small Business Relief Loans: Loans from $50,000 - $200,000 with a 0.25% interest rate for businesses that have experienced significant hardships. The loan can be used to cover working capital expenses like payroll, rent, and utilities.

Small Business Relief Grants: For businesses hit hard by COVID-19, grants up to $10,000 will be available to cover working capital expenses.

Minnesota

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Small Business Emergency Loans: For small businesses in need of money to cover working capital, loans from $2,500 - $35,000 are available through certified lenders. These loans are interest-free and are paid back over a five-year term, after a six month deferment period.

Mississippi

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Missouri

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Montana

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Nebraska

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Short term compensation: To help prevent layoffs, businesses can reduce employees hours by 10 to 60% — unemployment benefits will help offset the smaller paycheck.

Nevada

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

New Hampshire

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

New Jersey

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Small Business Emergency Assistance Loan Program: Loans of up to $100,000 are available for small businesses and nonprofits. Repay the loans over a 10-year term, with a 0% interest rate for the first five years and a maximum interest rate of 3% for the remaining five years.

Small Business Emergency Assistance Grant Program: For small and medium-sized businesses that employ 1-10 full-time equivalent employees, $1,000 to $5,000 emergency grants are available to help provide payroll and working capital support.

New Mexico

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

COVID-19 Business Loan Guarantee Program: The New Mexico Economic Development Department (NMEDD) guarantees a loan or a line of credit, up to 80% of the loan amount (for a maximum of $50,000). Emergency funds are flexible and can be used for working capital, inventory, and payroll costs.

New York

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

NYC Employee Retention Grant Program: For small businesses with less than five employees, this grant will help cover up to 40% of payroll costs for two months.

NYC Small Business Continuity Loan Fund: Businesses with less than 100 employees who have seen a 25% or more decline in revenue are eligible for a zero-interest loan of up to $75,000.

North Carolina

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

COVID-19 Rapid Recovery Loan: These loans are designed to bridge the gap between when you need money and when federal funds and insurance payouts are available. Loan amounts are capped at two months of current revenue.

North Dakota

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Primary Sector Business Loans: Loans of up to $1 million are available to businesses certified as primary sector and can be used for working capital, equipment or real estate.

Childcare Loan Program: Loans of up to $100,000 are available to childcare centers with a low-interest rate of 2.5%.

Rural growth incentive program Emergency Loan: Essential service companies, including gas stations and pharmacies in communities of less than 2,500 people can apply for loans of $25,000 - $75,000.

Ohio

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Oklahoma

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Oregon

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Pennsylvania

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

COVID-19 Working Capital Access Program: Loans of up to $100,000 for for-profit businesses with fewer than 100 employees. Loan applications are submitted through Certified Economic Development Organization (CEDO) and come with a 0% to 2% interest rate.

Rhode Island

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

South Carolina

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

South Dakota

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Tennessee

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Texas

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Utah

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Vermont

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Virginia

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Washington

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Shared Work: This program allows businesses to reduce employee hours by up to 50% and employees can get partial unemployment to make up for the smaller paycheck.

West Virginia

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Wisconsin

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Small Business 20/20 Program: Businesses that already have a relationship with a Community Financial Development Institution (CFDI) are eligible for grants up to $20,000 to cover rent and payroll expenses.

Wyoming

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

Washington DC

SBA Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available in all 50 states. No matter where you live in the country, you can apply to borrow up to $2 million to keep your business running. We have a full guide to help you apply.

DC Small Business Recovery Microgrants: Grants are available for local small businesses, self-employed people, independent contractors, and nonprofits to cover payroll, accounts payable, fixed costs, inventory, rent, and utilities.

More COVID-19 resources


This post is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult his or her own attorney, business advisor, or tax advisor with respect to matters referenced in this post. Bench assumes no liability for actions taken in reliance upon the information contained herein.

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