Unprecedented challenges ahead for small businesses

We’ll continue to update this page as the situation evolves, so visit regularly for updates

The worldwide COVID-19 outbreak is a quickly changing, uncertain situation.

And at Capital Lynk, we’re here to help. Keep reading for information related to available funding resources, practical tips on managing your business through uncertain times and recommended resources available from trusted sources.

Government Response to Coronavirus, COVID-19

State Government Assistance Programs for Small Business


Florida has initiated the Small Business Emergency Bridge Loan Program. Florida Disaster Loan site.


Iowa has launched a new Iowa Small Business Relief Program for businesses affected by the COVID-19 outbreak. More information about this program can be found here.


The state has launched a $50 million Emergency Relief Grant Fund that offers grant amounts up to $10,000 for businesses with fewer than 50 employees. They have also launched a $75 million Emergency Relief Loan Fund that will provide businesses with 50 or fewer employees loans up to $50,000. You can apply for both programs, as well as existing Maryland small business support programs, on the Maryland OneStop portal.


They have not disclosed rates at this time. More information about this program can be found here.


The program will provide both grants and loans to small businesses who have been affected by COVID-19. They expect to have funds available starting in early April. More information about the program can be found here.


The Minnesota Department of Employment and Economic Development will be providing interest-free emergency loans ranging from $2,500 to $35,000 to Minnesota-based businesses in need. To qualify, a business must prove that they have experienced hardship as a result of the COVID-19 outbreak. Learn more about the program here.

New Jersey

The package of initiatives targeted towards small businesses include a grant program and funding for entrepreneurs. The initiatives are meant to complement recently announced federal economic recovery initiatives. Learn more about the programs here.

New Mexico

The New Mexico Economic Development Department created the COVID-19 Business Loan Guarantee Program to aid small businesses seeking emergency loans or lines of credit. The program can guarantee a portion of a loan or line of credit up to 80% of principal or $50,000. Learn more about the program here.


Wisconsin has launched the Small Business 20/20 Program. The program will provide grants of up to $20,000 to assist targeted businesses with cash flow challenges resulting from COVID-19. Program funds will be made available through approved community development financial institutions (CDFIs).  Wisconsin is also working to expand access to funding through other programs as more resources become available. Learn more about the program and other small business support efforts here.

What is the Federal Government Doing in Response to COVID-19?

Health and Safety


Money and Taxes