Federal, state, and local governments along with private corporations are moving quickly to provide financial assistance to small businesses in the face of the COVID-19 pandemic. Here is a summary of the public and private loans, grants, and support programs for small businesses and employees, along with how you can take action and advocate for dedicated funding for child care programs. This article will be updated as more information becomes available.

Federal Assistance

  • The Federal Reserve announced that it is cutting interest rates to 0% and launching a $700 billion quantitative easing program.
  • The Small Business Administration (SBA) is offering $7 billion in low-interest federal loans to small businesses in designated states and territories impacted by COVID-19. Businesses can receive up to $2 million in assistance with interest rates of 3.75% and repayment terms up to 30 years. Check the SBA website to see if your area is eligible.
  • The U.S. Department of Labor issued guidance for state unemployment insurance programs to extend benefits to individuals whose employment status is impacted by COVID-19. Use this tool to find the agency that manages unemployment insurance in your state and visit their website for more information about eligibility and how to apply for benefits.
  • The federal government passed an economic relief bill to ensure that working people are able to access paid leave should they become infected or need to give care. It also strengthens existing unemployment insurance and food assistance programs, and will provide free diagnostic testing for the virus.

State Programs

Many states are offering their own recommendations and relief programs for businesses in response to COVID-19. View this comprehensive spreadsheet compiled by employer software platform Gusto to search your state’s available resources. 

Highlighting some of the resources for impacted states below:



  • The City of Denver is launching an emergency relief fund to address the most immediate needs of the business community. This program provides up to $7,500 in cash grants to assist eligible small businesses that may have had to temporarily close, have difficulty with paying their rent and utilities, or have had to lay off staff.





  • The $10 million Small Business Recovery Loan Fund will provide emergency capital up to $75,000 to Massachusetts-based businesses impacted by COVID-19 with under 50 full- and part-time employees, including nonprofits. Loans are immediately available to eligible businesses with no payments due for the first 6 months.


  • The Michigan Economic Development Corporation is providing up to $10 million for small business loans for small businesses statewide that have realized a significant financial hardship as a result of the COVID-19 outbreak. Loans to eligible borrowers must be $50,000 or more and are capped at $200,000. 


New Mexico

  • New Mexico Economic Development Department (NMEDD) has created a program to assist businesses seeking emergency loans or lines of credit to deal with negative economic impacts from COVID-19. NMEDD can guarantee a portion of a loan or line of credit up to 80% of principal or $50,000. Loan proceeds are flexible and can be used for working capital, inventory, payroll, and more.

New York

  • New York City will provide relief for small businesses across the City through zero interest loans of up to $75,000 to help mitigate losses in profit. Small businesses with fewer than 5 employees a grant to cover 40% of payroll costs for two months to help retain employees.


  • The Salt Lake City emergency loan program aims to provide financial relief to small businesses that will most likely see a downturn in business due to an unforeseen emergency. The program will fund loans up to $20,000 at 0% interest. The application will be open until Monday, March 23rd at midnight.



  • The Small Business 20/20 Program will provide grants of up to $20,000 to assist targeted businesses with cash-flow challenges resulting from COVID-19.

How to Take Action

  • Child Care Aware of America is rallying early education providers to send letters to Congress to urge them to provide significant and dedicated funding for child care programs during this public health crisis.
  • The National Association for the Education of Young Children (NAEYC) has published a survey to collect stories of how early education programs have been impacted by COVID-19 in order to inform local and state policymakers.