April 17, 2020

Non-SBA Capital for Texas Retail Businesses

By now you’ve probably seen a multitude of resources covering SBA loans like the Paycheck Protection Program. Of course, SBA loans are legitimate opportunities that should be explored, but we thought it would be helpful if business-owners knew there were more relief options out there.

We’ve put together a list of non-SBA capital relief opportunities, some of which are specifically for businesses in Texas. These opportunities are on offer by local and state governments, relief organizations, and some for-profit businesses that want to lend a hand right now.

We hope these are helpful. As always, if you have any feedback or questions, please let us know by emailing us at retailers@turnturn.com.

Description: Goldman Sachs and LIFT Fund partner to form a $50M pool for Texan businesses
Amounts
: Small business loans up to $1 million; Startup loans up to $50,000
Website
: Click Here
Criteria
:

  • Temporarily closed due to COVID-19 and plans to reopen when allowed or when economic conditions improve
  • Revenue has decreased more than 15% as result of COVID-19
  • Business is changing its operations to provide a needed product or service in  response to COVID-19

Description: Harris County Covid-19 Forgivable Loan Program [Currently paused, but check back periodically]
Amounts
: $25,000 loans
Website
: Click Here
Criteria
: (unspecified)

 

 

Facebook for Business

Description: Facebook Small Business Grants Program
Amounts
: $100M pool for grants
Website
: Click Here
Criteria
:

  • Be a for-profit company
  • Have between 2 and 50 employees
  • Have been in business for over a year
  • Have experienced challenges from COVID-19
  • Be in or near a location where Facebook operates

 

Description: Hello Alice
Amounts
: $10,000 grants
Website
: Click Here
Criteria
:
Applicants are judged on:

  • Demonstrated need
  • Proposed use of funds

 

peoplefund-logo

Description: PeopleFund                    
Amounts
: Unspecified
Website
: Click Here
Criteria
: General relief

 

Description: CDC Small Business Finance Disaster Loan
Amounts
: $20,000 - $150,000
Website
: Click Here 
Criteria
:
The following businesses can apply:

  • For-profit small businesses whose operations, revenue and staffing have been disrupted due to COVID-19.
  • Businesses impacted by COVID-19 that need funding for working capital and inventory
  • Typically businesses with under 250 employees
  • Businesses that are temporarily closed due toCOVID-19 related mandates and will re-open when the mandates are lifted are eligible 

 

Description: SheaMoisture                
Amounts
: $10,000 for 10 businesses to begin with; $1M pool
Website
: Click Here
Criteria
: All minority small business owners and entrepreneurs of color (including restaurants, hospitality, grooming, entertainers, wellness instructors, etc.) who have the ability to convene communities online for good, or distribute goods door-to-door (or via e-commerce) are encouraged to apply.

 

 

Description: U.S. Chamber of Commerce
Amounts
: $5,000 grants
Website
: Click Here
Criteria
:

  • Employ between 3 and 20 people
  • Be located in an economically vulnerable community
  • Have been harmed financially by the COVID-19 pandemic

 

Logo - LISC

Description: LISC+ Verizon                
Amounts
: Up to$10,000
Website
: Click Here
Criteria
: Businesses facing immediate financial threat because of the Covid-19 pandemic. The funding will go to make grants of up to $10,000, especially to entrepreneurs of color, women-owned businesses and other enterprises in historically under-served places who don’t have access to flexible, affordable capital.

 

Spanx by Sara Blakely Red Backpack Fund

Description: The Red Backpack Fund
Amounts
: 1,000 grants of $5,000 each
Website
: Click Here
Criteria
: Majority women-owned businesses and nonprofits with:

  • Annual revenues less than $5M
  • At least one additional paid employee
  • Fewer than 50 individuals on staff

If you're a retailer looking for a solution to the Coronavirus slowdown, please check out our Brick-and-Mortar Retail Pilot Program launching in Houston soon.