The State of California has launched the website for the CA Small Business COVID-19 Relief Grant Program. The first round of applications will be accepted from December 30, 2020 – January 8, 2021. The city of Escondido is encouraging as many local businesses as possible to apply.
Amber V. Tarrac, deputy director of economic development for the City of Escondido, said she is trying to spread the word about CaReliefGrants.com with local businesses now so they can prepare to apply when the application is live on December 30. “The goal with the outreach is to encourage as many as possible to put their names in the hat ASAP when the period opens tomorrow to help them during this difficult time.”
She added, “We have a grand total of 6,128 Escondido-based for-profit businesses and non-profit organizations that may meet the grant criteria to qualify for the CA state grant program.” That breaks down to 3,412 and 12 nonprofits that have an annual revenue of $100,000 or less; 2,141 for profits and 23 nonprofits that have an income between $100,000 and $1 million and 532 for profit and eight non profits that have an annual revenue of between $1 million and $2.5 million.
The FAQ page is being updated regularly, so check there with questions. For assistance applying when the application period opens on Dec 30, please find the program partners for San Diego County here.
The California Small Business COVID-19 Relief Grant Program (the “Program”) provides micro grants ranging from $5,000 to $25,000 to eligible small businesses and nonprofits impacted by COVID-19 and the related health and safety restrictions.
On November 30, 2020, Governor Newsom and the State Legislature announced the allocation of $500 million to the Program to be administered by the California Office of the Small Business Advocate (CalOSBA) at the Governor’s Office of Business and Economic Development. Lendistry has been designated by the state to act as the intermediary for the Program to disburse the grant funds.
Lendistry is a minority-owned and technology-enabled small business and commercial real estate lender. Certified by the United States Department of Treasury as a CDFI and a Community Development Entity (CDE), and a member of the Federal Home Loan Bank of San Francisco, Lendistry can secure key sources of long-term and low-cost capital such as the New Markets Tax Credit, CDFI Bond Fund, and loan guarantees. Lendistry and its nonprofit partner organization, The Center by Lendistry, supports small business owners because when locally-owned businesses grow, their communities thrive with them.