Small Business Live Restart Grant Fund

 

Accion Opportunity Fund is excited to partner with Superfly to raise money to support grants to vulnerable small business owners as they are struggling with challenges linked to COVID-19. The effort is part of Small Business Live, an online philanthropic music experience taking place on Saturday, June 20 from 4-10 p.m. EDT to support small business owners. Selected small business owners will receive a grant of $5,000 to help restart their business after COVID-19. Questions? Contact us (en español) or check our Frequently Asked Questions.

 

Thank you for your interest in the Small Business Live Restart Grant. We are no longer accepting applications for this grant. Applicants will be notified of their status by email by July 14.

 

Eligibility Requirements
  • Applicant must be the owner of the business
  • Must have been in business at least 1 year, since June 2019
  • Meets ONE of the following criteria:
    • Entrepreneur of color
    • Woman entrepreneur
    • Business annual revenue is less than $1 million

 

Ineligible Industries
  • National chain businesses or not-for-profit organizations that have a national affiliation
  • Branch Banks
  • Payday loan stores
  • Pawn shops
  • Astrology, palm reading
  • Liquor stores, night clubs
  • Adult bookstores, massage parlors, strip clubs
  • Track waging facilities
  • Trailer-storage yards
  • Junkyards
  • Marijuana dispensaries
  • Multi-level marketing
  • Churches (non-religious activities are eligible, i.e. if they have a bookstore or cafe)
Documents Required
  • 2018 or 2019 tax returns
  • Business bank statements from June 2019, September 2019, December 2019, March 2020
    • For sole proprietorships, please provide Schedule-C if you do not have business bank statements

 

  • A valid identification card (driver’s license, government-issued ID card, passport, matricula)
  • Bank account information for ACH transfer
More information about the Small Business Live Restart Grant Fund

Accion Opportunity Fund is raising funds directly from corporations as well as from individuals via a crowdfunding platform and via text to support these grants. Thanks to donations from corporations and individuals, we were able to raise enough funds to disburse approximately 90 grants to small business owners across the country. We are continuing to raise funds through the end of this week and will disburse additional grants if we are able depending on the outcome of the fundraising effort.

 

All grant recipients will be randomly selected. Duplicate applications do not increase applicant’s chances of being selected. At least 50% of funds will be allocated to current Accion and Opportunity Fund loan clients, a majority of whom are entrepreneurs of color, women, and/or low- to moderate-income entrepreneurs. The other 50% of grantees will be selected from the pool of eligible applicants. The selection process will also ensure geographic and industry diversity. The total number of recipients will depend on the total amount of funds raised in conjunction with the Small Business Live concert.

 

For over 25 years, Accion and Opportunity Fund have worked alongside small business owners providing capital and other services including financial education. For more information or to access these valuable resources visit us.accion.org and opportunityfund.org.

 

We are grateful to the donors who are making this fund possible, including the Tripadvisor Foundation, Bloomberg Philanthropies, the S&P Global Foundation, Citi, the Karsh Family Foundation, Superfly Media Group, and many individual donors who have provided donations through a crowdfunding effort.

 

Frequently Asked Questions

If you have additional questions, please submit an inquiry through this form on the grant application page, and we will do our best to respond to you within 4-8 hours.

 

Si tiene preguntas adicionales, envíe una consulta a través de este formulario en la página de solicitud de subvención, y haremos todo lo posible por responderle en un plazo de 4 a 8 horse. Por favor ver más abajo respuestas en español.

What is the Small Business Live Restart Grant Fund?

Small Business Live was a philanthropic musical experience focused on raising money for small businesses impacted by COVID-19. Renowned artists delivered unforgettable performances from unique locations, and share stories of the small businesses they know and love across the country. Before, during, and after the event, corporations and individuals have donated to the cause, which will provide $5,000 grants to small business owners, with a focus on entrepreneurs of color and women.

 

Small Business Live fue una experiencia musical filantrópica enfocada en recaudar fondos para pequeñas empresas afectadas por el COVID-19. Reconocidos artistas ofrecieron actuaciones inolvidables desde lugares especiales y compartieron historias de pequeñas empresas que conocen y aman en todo el país. Antes, durante y después del evento, corporaciones y personas han hecho donaciones a la causa, lo que proporcionará subvenciones de $ 5.000 a propietarios(as) de pequeñas empresas, especialmente a empresarios(as) de color y mujeres.

What are the criteria for eligible small businesses?

You must 1) be a small business owner based in the United States or a U.S. territory 2) have been in business for at least one year (since June 2019) and 3) meet one of the following criteria to be eligible:

  • Entrepreneur of color
  • Female entrepreneur
  • Business annual revenue of less than $1 million

 

Debe 1) ser propietario(a) de una pequeña empresa con sede en los Estados Unidos o en uno de sus territorios. 2) negocio activo durante al menos un año (desde junio de 2019) y 3) cumplir con alguno de los siguientes criterios para ser elegible:

  • Emprendedor(a) de color
  • Mujer emprendedora
  • Ingresos anuales del negocio menores a $ 1 millón
How large are the grants?

Each grant will be $5,000.

 

Cada subvención será de $ 5.000.

How do I apply?

To apply, please visit the online application here, complete the form, and submit.

 

Para aplicar, vaya a la solicitud en línea aquí, complete el formulario y envíelo.

How long do I have to apply?

The application will be open for seven days, from Tuesday, June 23 to Monday, June 29 at 11:59pm CT. Grant selection is NOT made on a first-come, first-served basis. There will be a random selection process across all eligible applicants, so there is no benefit to submitting your application early.

 

El proceso estará abierto durante siete días, desde el martes 23 de junio hasta el lunes 29 de junio a las 11:59 p.m. CT. La selección NO se llevará a cabo por orden de llegada. Habrá un proceso de selección aleatorio para todos los solicitantes elegibles, por lo que no le beneficia presentar su solicitud antes de tiempo.

What languages will the application be available in?

The application will be available in English and Spanish.

 

La aplicación estará disponible en inglés y en español.

Can my business apply more than once?

No, you may not apply more than once. We want to give as many businesses that apply as fair a chance possible, so everyone will only be allowed to apply one time. If we determine that the same business has applied more than once, the applicant will be disqualified.

 

No, no puede hacer más de una solicitud. Queremos brindar a la mayor cantidad de negocios posible las oportunidades más equitativas, así que cada quién podrá hacer solo una solicitud. Si encontramos que la misma empresa ha hecho más de una solicitud, será descalificada.

What documents do I have to submit with my application?
  • 2018 or 2019 tax returns
  • Business bank statements from June 2019, September 2019, December 2019, March 2020
    • For sole proprietorships, please provide Schedule-C if you do not have business bank statements
  • A valid identification card (driver’s license, government-issued ID card, passport, matricula)
  • Bank account information for ACH transfer

 

  • Declaraciones de impuestos de 2018 o 2019
  • Estados de cuenta bancarios de la empresa de junio de 2019, septiembre de 2019, diciembre de 2019 y marzo de 2020
    • Para firmas unipersonales, suministre el Anexo C si no tiene cuenta bancaria de empresa
  • Una identificación válida (licencia de conducir, tarjeta de identificación emitida por el gobierno, pasaporte, matrícula)
  • Información de la cuenta bancaria para la transferencia ACH
What if I don’t have 2018 or 2019 tax returns?

People without 2018 or 2019 tax returns are not eligible to apply.

 

Las personas que no han declarado impuestos en 2018 o 2019 no son elegibles para aplicar.

What if I don’t have a business bank account to provide business bank account statements?

If you are a sole proprietor, you can provide your Schedule C instead. If you are not a sole proprietor, you must submit business bank statements to be eligible. If you are not able to do that, your application will not be considered.

 

Si usted es propietario(a) único(a), puede proporcionar el Anexo C en su lugar. Si no es propietario(a) único(a), debe presentar estados de cuenta bancarios del negocio para ser elegible. De no ser así, su solicitud no será tomada en consideración.

Why do I have to submit my bank information?

Bank information is submitted to make the deposit of grant funds via ACH if you are selected as a grantee. This information will only be used if you are selected.

 

La información bancaria se envía para realizar el depósito de los fondos de la subvención a través de ACH, si es seleccionado(a) como beneficiario(a). Esta información solo se usará si usted es seleccionado(a).

What if I am unable to upload all of the information requested?

You must provide all documentation requested. Incomplete applications will not be considered.

 

Debe proporcionar toda la documentación solicitada. Las solicitudes incompletas no serán procesadas.

I am a sole proprietor. Am I eligible?

Yes, sole proprietors are eligible to apply.

 

Sí, los(las) propietarios(as) únicos(as) pueden aplicar.

Is this grant open to small business owners outside the U.S.?

The fund is open to small business owners in the 50 United States and the 14 U.S. territories, including Puerto Rico and American Samoa.

 

El fondo está abierto a propietarios de pequeñas empresas en los 50 estados y en los 14 territorios de los EE. UU, incluyendo a Puerto Rico Samoa americana.

What if I am an employee at a small business or serve in a management role at a small business, can I apply on its behalf?

You must own a small business to be eligible. Employees of small businesses are not eligible for this grant.

 

Debe ser dueño(a) de una pequeña empresa para ser elegible. Los empleados de pequeñas empresas no son elegibles para esta subvención.

I am the owner of a non-profit organization. Can I apply?

No, this opportunity is only open to owners of small businesses (for profit).

 

No, esta oportunidad solo está abierta para propietarios(as) de pequeñas empresas (con fines de lucro).

Can any business apply?

Businesses can apply from any industry EXCEPT the following, which are ineligible: 

  • National chain businesses or not-for-profit organizations that have a national affiliation
  • Branch Banks
  • Payday loan stores
  • Pawn shops
  • Astrology, palm reading
  • Liquor stores, night clubs
  • Adult bookstores, massage parlors, strip clubs
  • Track waging facilities
  • Trailer-storage yards
  • Junkyards
  • Marijuana dispensaries
  • Multi-level marketing
  • Churches (non-religious activities are eligible, i.e. if they have a bookstore or cafe)

 

Las empresas pueden dedicarse a cualquier tipo de actividad SALVO las siguientes, que no son elegibles:

  • Cadenas de negocios nacionales, u organizaciones sin fines de lucro con afiliación nacional
  • Sucursales bancarias
  • Locales de préstamos de día de pago
  • Casas de empeño
  • Astrología, quiromancia
  • Licorerías, discotecas y similares
  • Librerías para adultos, salones de masajes, clubes de striptease
  • Locales de apuestas
  • Zonas de almacenamiento de remolques
  • Depósitos de chatarra
  • Dispensarios de marihuana
  • Marketing multinivel
  • Iglesias (las actividades no religiosas son elegibles, es decir si tienen una librería o cafetería)
Do I have to be a United States citizen or legal resident to be eligible?

We do not request any information related to the immigration status of applicants. Eligible applicants must own a business, submit tax returns, and submit a copy of one form of photo identification, which could be a valid state-issued ID, a city-issued ID, a consular ID, a passport, driver’s license or a matricula.

 

No solicitamos ninguna información relacionada con el estatus migratorio de los(las) solicitantes. Los(las) solicitantes elegibles deben ser dueños(as) de un negocio, presentar declaraciones de impuestos y copia de algún tipo de identificación válida con foto, que podría ser emitida por el estado, o por la ciudad, una identificación consular, pasaporte, licencia de conducir o matrícula.

If I have multiple businesses in different communities, can I get multiple grants?

No, each individual business owner may only apply once and is only eligible to receive one grant even if he or she owns more than one business.

 

No, cada propietario(a) de una empresa individual solo puede presentar una solicitud y solo es elegible para recibir una subvención, incluso si posee más de una empresa.

Can I make changes to my application after submission?

No, you may not make any changes after the application has been submitted. We recommend that you save your application responses in a separate backup document just in case your answers are not saved. Please carefully review your application prior to submission, as you will not be allowed to review or change anything after you have submitted.

 

No, no puede realizar ningún cambio después de que se haya enviado la solicitud. Recomendamos que guarde las respuestas que incluyó en su solicitud en un documento de respaldo por separado, en caso de que haya problemas con sus respuestas. Revise cuidadosamente su solicitud antes de enviarla, ya que no se le permitirá revisarla o cambiarla después de haberla enviado.

Will I receive confirmation after the application has been submitted?

Yes, you will receive confirmation by email.

 

Sí, recibirá una confirmación por correo electrónico.

How are grant winners selected?

All grant recipients will be randomly selected. 50% of funds will be allocated to current Accion and Opportunity Fund loan clients. The other 50% of grantees will be selected from the broader pool of eligible applicants. The selection process will also ensure geographic and industry diversity. No more than 20% of grantees will come from any one region of the country (West, Southwest, Midwest, Southeast, Northeast), and no more than 20% will come from anyone industry according to the NAICS codes provided by applicants.

 

Todos los(las) beneficiarios(as) de subvenciones serán seleccionados(as) al azar. El 50% de los fondos se asignarán a clientes actuales de préstamos de Accion y de Opportunity Fund. El otro 50% de los(las) beneficiarios(as) serán seleccionados(as) dentro del grupo más amplio de solicitantes elegibles. El proceso de selección también garantizará la diversidad geográfica y de actividades. No más del 20% de los(las) beneficiarios(as) procederá de una región específica del país (oeste, suroeste, medio oeste, sudeste, noreste), y no más del 20% provendrá de un sector de actividad de acuerdo con los códigos NAICS proporcionados por los solicitantes.

When will grant winners be announced?

Grantees will be notified by July 14, 2020.

 

Los(las) beneficiarios(as) serán notificados(as) antes del 14 de julio de 2020.

How many grants will be awarded?

The total number of grants will depend on the total amount of funds raised in conjunction with the Small Business Live concert, which generated funds from corporate and individual donors. Donations will continue to be collected through June 26, which may increase the number of grants available. As of the opening date of the application, the Small Business Live Restart Grant Fund is estimated to support 90 businesses through grants.

 

El número total de subvenciones dependerá de la cantidad total de fondos recaudados en conjunto con el concierto Small Business Live, que generó fondos de donantes corporativos y personales. Las donaciones continuarán siendo recolectadas hasta el 26 de junio, lo que podría aumentar la cantidad de subvenciones disponibles. A la fecha de apertura de solicitudes, se estima que el Small Business Live Restart Grant Fund respaldará a 90 empresas mediante subvenciones.

When will the grant funds be distributed?

We plan to announce winners by July 14, and we plan to send the grant money immediately after the winners are announced.

 

Planeamos anunciar los(las) ganadores(as) antes del 14 de julio, y enviar el dinero de las subvenciones inmediatamente luego de que se anuncien los(las) ganadores(as).

How will I be notified if I will receive a grant?

All communications regarding the grant will be through emails from Accion, including the notification if you are selected to receive a grant. 

 

Todas las comunicaciones relacionadas con la subvención se realizarán a través de correos electrónicos de Acción, incluyendo la notificación si es seleccionado(a) para recibir una subvención.

How will the grant money be sent?

Grant money will be transferred through ACH directly to you using the bank information you provide during the application process.

 

El dinero de la subvención le será transferido a través de ACH directamente, utilizando la información bancaria que proporcione durante el proceso de solicitud.

Will there be additional documentation required after application?

No. If you are randomly selected to receive a grant, we will verify information in your application prior to notifying you about being selected. We are required to conduct this due diligence by the sponsors of the Fund.

 

Si es seleccionado(a) al azar para recibir una subvención, verificaremos la información contenida en su solicitud antes de notificarle sobre su selección. Los patrocinadores del Fondo nos exigen realizar la debida diligencia.

Are there any obligations after I receive the grant money?

Our expectation is that you use the money for the purpose you described in your application. We also will be reaching out in 6 months to ask about the impact the grant has had on you and your business. If you are selected to receive a grant, please respond to that impact survey.

 

Nuestra expectativa es que utilice el dinero para el propósito que describió en su solicitud. También nos comunicaremos dentro de 6 meses para preguntarle sobre el impacto que tuvo la subvención en usted y su negocio. Si es seleccionado(a) para recibir una subvención, por favor responda entonces a la encuesta de impacto.