Amazon Launches $5 Million Relief Fund for Small Seattle Businesses

Small businesses are bearing the brunt of the coronavirus outbreak more than larger companies, as self-isolating consumers are causing sales to dry up. Without the deep pockets to weather an extended downturn, they face the prospect of being wiped out.

Amazon.com (NASDAQ: AMZN) announced it will create a $5 million relief fund for small businesses with fewer than 50 employees and less than $7 million in annual revenue near the e-commerce giant's Seattle offices. Applicants for a grant will need to estimate how much money they expect to lose in March and will need to provide some sort of record to back up the claim.

Image source: Getty Images.

Source Fool.com