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California Small Business COVID-19 Relief Grant Deadline Extended
The State of California Small Business COVID-19 Relief Grant Program, which offers grants of $5,000 to $25,000 to eligible small businesses and nonprofits adversely affected by the pandemic, has extended the deadline for the first round of applications to January 13th, 2020. Start a grant application here: https://careliefgrant.com/partners/county/
Basics of the COVID-19 Relief Grant ProgramThe program, which allocates $500 million in financial relief to small businesses and nonprofits that have been impacted by the COVID-19 pandemic, was first announced by Gov. Newsom and the California state legislature on November 30th, 2020. All California-based small businesses (including sole proprietors, home-based businesses, and independent contractors) and not-for-profits with a yearly gross revenue of $2.5 million or less, and have been in operation since at least June 1, 2019, may be eligible for the grant. It is worth noting that applicants with multiple business entities/franchises/locations, etc. are not eligible for multiple grants and are only allowed to apply once using their eligible small business with the highest revenue.
Grant Awards by Entity RevenueThe grant award ranges from $5,000 to $25,000 based on your operation’s annual gross revenue as reported in the most recent federal tax return. Gross Annual Revenue - Grant Award $1,000 to $100,000 - $5,000 Greater than $100,000 up to $1,000,000 - $15,000 Greater than $1,000,000 up to $2,500,000 - $25,000 The award is a true grant, not a loan that has to be forgiven. The funds are intended to be used as working capital for your business’s operating expenses – payroll, rent, loan payments, COVID-protective measures, etc.
Award Selection ProcessThe grants are not issued on a “first-come, first-served” basis; rather all applications will be assessed following the close of each application round. The program prioritizes distribution based on key factors, including:
- Geographic distribution based on COVID-19 health and safety restrictions;
- County status and regional stay-at-home orders;
- Industry sectors most impacted by the pandemic;
- Underserved small business groups:
- e.g., majority-owned and run by women, persons of color, or veterans, or located in low-to-moderate income and rural communities.