Small Business Relief Fund
Support Businesses Affected by COVID-19
The economic and personal impacts from the COVID-19 pandemic are increasingly devastating for individuals, families and small businesses across the U.S. Even before a crisis like this, nearly half of the nation’s 30 million small businesses only have enough cash on hand to operate for 15 days without customers. If they shut down, paychecks for millions of workers are in jeopardy, which will have serious impacts on their families, communities and our economy as a whole.
Ensuring Small Business Resilience
Opportunity Fund’s Small Business Relief Fund aims to raise support for small businesses impacted by the COVID-19 crisis — especially those run by women, people of color and immigrants. The Small Business Relief Fund provides relief to struggling self-employed and small business owners. We must step in as a source of stability for small businesses and self-employed individuals throughout this crisis. To do that, we need your help.
Alicia and Pedro Need Your Help
Families like Alicia and Pedro Villanueva need your help. Alicia, Pedro, and their 25 employees once produced 40,000 tamales per month in their factory, delivering daily to Google, Facebook, and Twitter, selling tamales to fans at the Chase Center for Warriors games and providing student lunches in Vacaville Unified School District sites. All that came to a grinding halt with the COVID-19 crisis.
“I’m working so hard to survive right now. If I have to, I’ll go back to knocking on doors with my tamales, when that is allowed again.” Alicia shared recently on NPR’s Morning Edition
Opportunity Fund Board Chair Greg Avis and his wife Anne Avis connected Alicia with a school in East Palo Alto in need of food to feed some of their more vulnerable students during this time. And Opportunity Fund provided loan payment relief to Alicia this month. It’s a help, but Alicia and thousands – even millions – of businesses like hers are still struggling day by day to make it through.
How your support for Opportunity Fund’s Small Business Relief Fund Will Help Small Business Owners:
- Loan Payment Relief: Affected businesses can skip a payment on their loan for up to three months. The payment will either be forgiven entirely or tacked onto the end of the loan, depending on how well the business is situated to bounce back.
- Affordable Capital: Borrowers in need of capital can access funding, ensuring businesses avoid taking on high-interest debt from unscrupulous lenders that may be preying upon small businesses right now.
- Expert Advice: Business owners navigating uncharted waters can receive free, expert technical assistance to restructure debt, financial and tax advice, marketing strategies, legal support, and human resource and layoff aversion support.
Opportunity Fund’s Small Business Relief Fund provides immediate relief to struggling self-employed and small business owners. We must step in as a source of stability for small businesses and self-employed individuals throughout this crisis. To do that, we need to pull together, and we need your help.
Join the Small Business Relief Fund
- Individuals – donate directly online or through a Donor Advised Fund.
- Foundation and Businesses – contact Christopher Berini, Chief Development Officer.
- Government – contact Gwendy Brown, Vice President of Policy and Research
Thank you to Wells Fargo, the inaugural funder of the Small Business Relief Fund. And thank you to Silicon Valley Community Foundation for collaborating to bring relief to small businesses affected by the COVID-19 crisis in California.