The Thryv Small Business Foundation announced today the second round of recipients of its Small Business COVID-19 Grant Program, a grant application program that awards immediate grants to struggling small businesses.
“One-hundred percent of this grant is going to go toward our employees,” said Dr. Renee McCoy-Collins, grant recipient and owner of D.C.-based Capitol Dental Services. “The dental industry has been rocked by COVID-19. Your everyday dental services have been deemed non-essential.
“We applied for the Paycheck Protection Program (PPP), but were told by our bank the $349 billion set aside had run out. We hope more money is approved this week for the program.
“As Chairwoman of the D.C. Board of Dentistry we have had to completely change the way we do business. We are now discussing how to reopen and provide a safe environment for our staff and patients. We employ 12 people and consider them vital to our business.”
After announcing the grant program, the Foundation received thousands of submissions from across the United States. Once it selects and notifies grant recipients, the Foundation is wiring the money directly to individual businesses. The grants are sponsored by Thryv, Inc., its leadership team, employees, board members and other donors.
“Many of these businesses have applied for the Paycheck Protection Program or SBA’s EIDL, but the funds just aren’t coming fast enough to give them a fighting chance,” said Matthew Gourgeot, who oversees the foundation. “We know struggling small businesses need the money now. Within 14 days of launching our COVID-19 program we have awarded two waves of small business grants.”
The grants gifted are between $2,500 and $15,000.
“Our revenue is through memberships and daily sales,” said Kat Kelley-Chung, grant recipient and owner of YogaKat in Columbia, Md. “We started feeling the impact of COVID-19 at the end of February/early March with members suspending/cancelling memberships; and since we were shut down by the government on March 16, the rate is exponential.
“I employ nine instructors. Our monthly revenue for March was cut by more than half. The impact of COVID-19 has been catastrophic for my business. I will use the grant to keep them paid. They have great relationships with our clients. If lose my staff I will lose even more customers!”
The Foundation announced it is no longer accepting new applicants due to overwhelming demand.
“While rewarding, this process has been tough,” said Gourgeot. “There are so many deserving businesses out there that need a helping hand, and unfortunately, we cannot help them all.
“We’re proud that our team has been able to move so quickly to help Small Business America.”
The Thryv Foundation welcomes donations from anybody interested in helping small businesses through this crisis. If you wish to donate, please click here. All donations are tax-deductible to the extent allowed by law.
About Thryv Small Business Foundation
The Thryv Small Business Foundation is the 501(c)(3) charitable and educational organization created by small business automation software provider Thryv, Inc. It invests in small businesses through education and efforts like its Small Business Ambassador Program, which offers live webinar and seminar training around the country.
In addition, the Foundation develops entrepreneurs by speaking to and working with Small Business Development Centers, vocational schools and local communities. The Foundation invests in small business America through in-kind donations and small business grants gifting the tools needed to start, run and grow their businesses.
About Thryv, Inc.
Thryv, Inc. builds and owns the simple, easy-to-use software Thryv® that helps small business owners with the daily demands of running a business; and allows them to take control and be more successful.