LOCAL INITIATIVES SUPPORT CORPORATION'S
Small Business Relief Grants
The WeShare Team is here to help you navigate the grants that LISC is providing to small businesses facing immediate financial pressure because of COVID-19.
What is the Small Business Relief Grant?
Thanks to support from a variety of funders, the Local Initiatives Support Corporation is providing grants to small businesses, to help them keep functioning and remain vital facets of their local economies through this challenging period.
Who is Eligible?
LISC will support small businesses and enterprises affected the Covid-19 across the country, especially those in underserved communities, including entrepreneurs of color, women- and veteran-owned businesses that often lack access to flexible, affordable capital.
Applications will be reviewed based on criteria designed to prioritize particularly challenged businesses, and the final grantees will be randomly selected from the top scoring applicants.
What are the Grant Parameters?
Grants will be made in amounts ranging from $5,000 to $20,000. LISC will use the funding to provide grants to businesses facing immediate financial pressure because of COVID-19. These grants do not need to be repaid. However, all taxes associated with the acceptance and/or uses of cash awarded are the sole responsibility of the individual grantee.
The grant can be used for:
Payables to include rent and utilities.
Meeting payroll (to include the applicant).
Paying outstanding debt to vendors.
Other immediate operational costs.
What are the Requirements?
This may include a background search that LISC will conduct at their expense and submission of additional information to include verification information such as date of birth, SSN, TIN/ITIN, EIN, W-9 and appropriate banking information in order to receive funds via ACH if awarded. The background verification does not involve a credit check or credit score pull. The WeShare team is here to support you through the process however we can.
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The WeShare Team is dedicated to building out tools to help small business owners navigate this strange time. Whether it's finding you the supply you need at the cheapest prices or matching you with robust financial tools, please get in touch!