Times are tough for the fashion industry. Especially for small businesses that might not have the portfolio diversification or cash reserves that larger companies have. But, virtue + vice is here for you. That is why I made this ultimate corona fashion grant list that you can apply to now for aid.
I will continue to update this list as more grants become available.
New as of April 14, 2020
Tailwind Grant
From their website...
"We want to do everything in our power to help small businesses survive this pandemic crisis, and prepare themselves to thrive afterwards.
So, we’ve established a $1 million Small Business Relief Program to help small businesses make the most of this difficult time."
I just filled out the application -
It looks like the "grant" is only for Instagram and Pinterest advertisement credits. Also, they force you to "nominate" 3 other businesses for your application to be complete. Shame on them for taking advantage of small businesses during this time to build their email list.
As of April 8, 2020
Amazon - Neighborhood Small Business Relief Fund
Amazon is giving 5 million in grants. The catch is, only to local Seatle businesses (Amazon is based in Seatle, Washington).
From March 26- April 30 Amazon is also pausing repayment of Amazon Seller loans, without any penalties.
To be eligible for a grant
Recipients must have fewer than 50 employees or less than $7 million in annual revenue.
Bumble
There are 200 $5,000 grants up for grabs from Bumble. You need to first download the app, fill out a profile, and swipe a few times. You will be prompted after a few test swipes to then swipe right to apply for the grant.
Quick tip
Be camera ready! Part of the application process is filming a short video of yourself and what you will do with the grant money if you receive it.
My two cents
Also, I did not know this, but apparently Bumble can be used for making and finding business connections and friendships now. Not going to lie, after being in a relationship for almost 8 years I felt a little weird downloading an app notorious for matching singles. But, was pleasantly surprised that they had expanded beyond romance and hookups into more of a networking platform.
Council of Fashion Designers of America - A Common Thread
The CFDA/Vogue Fashion Fund is now, A Common Thread, and the focus is to help fashion designers and brands during the COVID pandemic.
You do not need to be a CFDA member to apply, and applicants are open to everyone including designers, retailers, fashion manufacturing factories (one of the only grants on the list supporting the manufacturing initiative) and other fashion businesses.
Grants of up to $100,000 will be awarded from the $3 million that has been raised so far.
I just filled out the application, here what I learned in the process...
It seems like they want small businesses that have been around for the past two years. And, no more than thirty full-time employees, with under ten million in revenue.
Eileen Fisher
Supporting Women in Environmental Justice - more info coming soon
Eileen Fisher is awarding $10,000-$40,000 grants.
Criteria to apply
This grant is closed for 2020, but keep it on your radar for 2021
- Be an IRS-recognized 501(c)(3) nonprofit organization*
- Provide direct services**
- Address one or more of the above key points
- Program’s mission focuses primarily on individuals who identify as female
- Executive leadership reflects the demographics of the program’s beneficiaries
- Program has been generated by and/or co-designed with the communities it serves
- Able to provide financial statements for one full year of operations
- Able to complete an application and participate in an interview in English
- Organizations without 501(c)(3) status may apply with a fiscal sponsor provided they meet all other eligibility criteria and upload financials representing their operations. While organizations must have 501(c)(3) status or a fiscal sponsor, there is no geographic restriction on the programs for which they are applying.
Almost two weeks ago Facebook announced that they will be giving away 100 million in grants to small businesses. But, since then there have not been any new details about how to apply.
However, they have updated some stipulations on the grant money.
Businesses applying must
- Have between 2 and 50 employees
- Been in business for over a year
- Experienced challenges from COVID-19
- Be in or near a location where Facebook operates
Freelancers Union
Apply for a micro grants up to $1000 for households whos primary income is from freelance work. This grant is less about keeping your business going and more about keeping your life together. Money can and should be spent on things like food/food supplies, utility payments, and cash assistance to cover income loss.
What you need to apply (taken directly from the Freelancers Union website)
- Be a freelancer who primarily resides in the United States. To qualify, an eligible freelancer must have performed freelance work as their primary source of income for at least one year prior to their application. Eligible freelance businesses include sole proprietors, limited liability companies, or other entity provided there is no more than one employee.
- Experience a sudden decrease of at least 50% of income as a direct result of the COVID-19 pandemic, including those experiencing contract cancelations or loss of work due to social distancing measures, experiencing COVID-19 illness or caring for immediate family members infected with COVID-19. Your application must include a narrative and provide tangible documentation of income loss.
- Provide tangible documentation of freelance income and income loss by providing the following supporting documents:
- 2019 tax filings or annualized financial statements
- Two consecutive months of 2020 financial statements
- Canceled contracts or relevant client communications
- Financial documents can include: tax returns (including schedule C statements if applicable), bank statements, or CPA-certified profit & loss statements.
$15,000 grants + exposure from the Girlboss platform. Because who couldn't benefit from a little extra support with their business development these days?
Applications open back up June 1, 2020 so get ready!
GoFundMe
To date, GoFundMe has raised over 2 million dollars on its own GoFundMe. The money will be given away $500 grants. Their goal is to try and give as many people as possible a little something. So to be clear, so far they have collected enough money for 4,000 $500 grants to help our small businesses.
Here is how it works
The Small Business Relief Fund will provide one-time matching grants to qualifying small businesses to help alleviate the financial burdens during these pressing times.
Basically all you need to do is start a GoFundMe for your business, use the hashtag #SmallBusinessRelief, and raise $500 to be matched.
To qualify, your small business must be independently owned and operated, and must not be nationally dominant in your field of operation. Each recipient of the matching grant must intend on using the funds to help care for your employees or pay ongoing business expenses.
Goldman Sachs
Has pledged 25 million in small business grants (and 250 million in small business loans). Like with Facebook, there is a catch here. All applicants must qualify in one of the below ways.
- Assisting health providers on the front lines
- Providing assistance to the most vulnerable populations
- Providing economic relief for reduced and lost work
- Supporting children and families in the wake of school closures
- Supporting medical research
No word yet on exactly how. toapply, but I will keep you updated as I learn more
Google has pledged over 800 million in relief funds. But, don't get too excited, a lot of that is free ad money.
The most interesting part of the package is "A $200 million investment fund that will support NGOs and financial institutions around the world to help provide small businesses with access to capital."
No word on how to apply yet, but stay tuned.
The Halstead Grant
For the jewelry industry only, the deadline is August 1st, 2020, so there is still some time to apply
The grant consists of $7,500 in start-up capital and $1,000 in merchandise as well as recognition in the industry.
Hello Alice Community Grant
$250,000 in grants will be awarded, but not all grants are the same…
- One grand prize winner will receive a $50,000 business grant
- Two runners up will each receive a $25,000 business grant
- Twelve finalists will each receive a $10,000 business grant
- Three business / entrepreneur support organizations (nominated by you!) will each receive a $10,000 grant to continue their work in supporting business owners
To apply, you must…
- Be a legal resident of the U.S., excluding Puerto Rico
- At least 18 years of age or older
- Be a legal for-profit business entity based in the U.S.
- Applicants must be the business owner and founder
JPMorgan
Has pledged 50 million, with the first 15 million be broken up as follows
- $5 million to provide immediate healthcare, food and other humanitarian relief globally;
- $2 million to existing nonprofit partners around the world that are responding to the COVID-19 crisis in their communities
- $8 million to assist small businesses vulnerable to significant economic hardships in the U.S., China and Europe.
Still waiting on details of how to apply
Kerbito of Pyer Moss
Awarding $50,000 of grant money to minority and women-owned businesses.
Send an email to wanttohelp@yourfriendsin.nyc
New York City Grant Program
Grants are awarded to help with employee retention.
SheaMoisture
1 million dollars awarded to minority-owned businesses. More info coming soon. For now, the website just reads
"SheaMoisture will award minority-owned businesses that are finding creative ways to support their communities through COVID19. If you are a business who has a social impact mission and are doing something to support your community at this time. We want to hear from you!"
Spanx Red Backpack Fund
Spane has always felt a little cringy to me, a woman made millions basically by telling women they needed to wear modern day corsets to be more appealing. At least they are doing something good with that money now.
1,000 $5,000 grants are up for grabs. But there are some restrictions to apply.
Before beginning your application, please confirm you meet the following criteria:
- At least 51% majority-women owned
- You have withheld payroll taxes for at least one employee in addition to yourself (unfortunately, we are unable to accept applications from sole proprietors, or individuals who exclusively employ contractors at this time)
- Registered as a legal entity and have a valid EIN number
- Have fewer than 50 employees
- Your annual revenues did not exceed $5M in any of the past three years
Kiva
To be clear, this is technically a loan. But there is a 0% interest-free loan for up to $15,000, and a grace period for new borrowers for up to 6 months
Paycheck Protection Program (PPP)
Another loan.
Remember that $2 trillion Coronavirus Stimulus Package? Well, $350 billion of that is going into a federal small business loan program.
Do you have less than 500 employees? Businesses that keep their employees on payroll for eight weeks will be eligible for partial or total loan forgiveness.
We are not sure what this means for sole proprietors and freelancers yet.
Update - if you got a PPP loan, make sure to get it forgiven!