The Recording Academy and MusiCares have contributed $1 million each to help musicians and those in the industry during this challenging time. A total of $2 million is available to those who have been affected from lost performance and event revenue.

People can also contribute to the fund as well.
They can do so here: https://www.grammy.com/MusiCares/CoronavirusReliefFund

MusiCares chair Steve Boom said, “The music industry is built on the work of musicians, artists, and music professionals. It is in times like these, that the industry needs to come together to support those who are struggling, particularly those who rely on touring incomes to survive. We know this fund will need to be significant. We will not be able to do it alone, and that’s why we are asking the entire music community including labels, streaming services, and anyone who is able to join us in this important effort. We’re all in when the good times roll, and it’s important that we’re all in when times are tough, too.”

Announcement

https://www.grammy.com/grammys/news/recording-academy-and-musicares-establish-covid-19-relief-fund

Application
https://www.grammy.com/musicares/get-help/covid-19-relief-fund-faq