Image via flickr user Jernej Furman
Written by The Business Journal Staff
Applications are live through Jan. 13 for a new grant program announced by Gov. Gavin Newsom called the California Small Business Covid-19 Relief Grant Program.
“Small business owners and our nonprofits serve as the economic heart of every California community,” said Gov. Newsom. “This grant program isn’t the end, it’s the beginning. It’s a bridge to help the millions of Californians whose dreams and livelihoods are now on the line as we work with the State Legislature to create additional support.”
The funding is part of a recent rollout of $500 million in grants. The program is administered by the California Office of the Small Business Advocate (CalOSBA) at the Governor’s Office of Business and Economic Development.
The grant relief is a bridge to stand on until Paycheck Protection Program round two goes live.
The grant targets small businesses that have been impacted by Covid-19, including farmers, ranchers and non-profits.
Grants range from $5,000 to $25,000 depending on annual revenue as documented on businesses’ last tax return.
Grants must be used on expenses such as payroll, overhead costs, medical leave or Covid-related expenses added on to business operations. Recipients are determined based on areas most impacted by Covid-19, with substantial revenue loss, and specialty industries like hair salons, retail and restaurants.
Applicants will either be selected, waitlisted or not selected. If waitlisted, businesses can apply for round two. The date for round two is to be determined.