California Small Business COVID-19 Relief Grant Program
On December 27, 2020, a fourth federal stimulus bill was approved.
San Diego County COVID-19 Small Business & Loan Program
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CALIFORNIA SMALL BUSINESS
COVID-19 RELIEF GRANT PROGRAM
The California Small Business COVID-19 Relief Grant Program is providing 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.
- Round 1 application period closed January 13, 2021 at 11:59 PM PST
- Round 1 approval notifications are being sent on a rolling basis January 15 – January 22, 2021
- Nonprofits that did not apply in Round 1 can apply for Round 2 consideration February 2 – February 8, 2021
- Round 2 approval notifications will be sent on a rolling basis February 11 – February 18, 2021
Any applicants not awarded in Round 1, but eligible, will be automatically considered for Round 2. You do not need to reapply. Visit CaReliefgrant.com to learn more about the program and review application guidelines, requirements and eligibility criteria.
SBDC is committed to assisting applicants with this grant opportunity. It will help nonprofits and businesses prepare for the application and ensure you have all the needed documentation to be successful in the process.
PPP (Paycheck Protection Program) for Nonprofits Webinar
The U.S. Small Business Administration (SBA) reopened the Paycheck Protection Program (PPP) for first-time borrowers January 11. Nonprofits that already received a PPP loan and can demonstrate at least a 25% loss in revenue during 2020 as compared to 2019 can now apply for a second PPP loan (PPP2), as well.
San Diego & Imperial Small Business Development Center (SBDC) will host a live webinar with a Q&A session to review how PPP and PPP2 loans work and how nonprofits can apply.
Monday, January 25, 2021
Registrants will receive a Zoom link prior to the event. For questions, please contact Desiree Dolores at [email protected].
FEDERAL STIMULUS PACKAGE
On December 27, 2020, a fourth federal stimulus bill was approved in response to the coronavirus pandemic. The $900 billion stimulus package includes new and renewed assistance for small business owners and nonprofits, including:
- Additional funding for the Paycheck Protection Program (PPP), allowing businesses and nonprofits that did not receive a loan to apply and receive a loan equal to 2.5 times their monthly payroll
- Options for businesses and nonprofits that have had at least a 25% drop in revenue to apply for a second PPP loan. Certain industries hardest hit, such as restaurants and hospitality, can receive up to 3.5 times their monthly payroll
- $15 billion for grants for live venues that have been shuttered, including theaters, museums and other cultural institutions
- An extension of the Economic Injury Disaster Loan (EIDL) program, including a renewal for the up to $10,000 grant program for businesses and nonprofits that did not previously receive the funding
- Availability of PPP loans for nonprofit 501(c)(6) organizations in addition to 501(c)(3) organizations
SBDC has helped nonprofits obtain disaster assistance through its trainings and one-on-one advising, including help securing both PPP loans and EIDL loans from the federal government.
San Diego Resources
SAN DIEGO COUNTY COVID-19
SMALL BUSINESS & NONPROFIT LOAN PROGRAM
The San Diego County COVID-19 Small Business & Nonprofit Loan Program (SBNLP) is a collaborative initiative to provide low-interest and no-interest loans to San Diego County small businesses and nonprofit organizations and aid in the region’s economic recovery from the coronavirus.
The nonprofit loan pool has new expanded eligibility. The annual maximum revenue has increased to $25 million, and the maximum loan amount has increased to $500,000.
This loan program was launched by County of San Diego Supervisor Nathan Fletcher in collaboration with The San Diego Foundation, Mission Driven Finance, Accion Serving Southern California, the San Diego & Imperial Small Business Development Center Network, and the California Southern Small Business Development Corporation.
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In March 2020, COVID shook the world and it has been a devasting reality for small businesses and entrepreneurs. A month later hyprlocal | 501c3 was formed in response to the wide shutdown and rapidly growing unemployment. Our organization is meant to be a resource center for small businesses and entrepreneurs. At the core of our organization is the belief that communities should have the resources to advance economically. Our platforms are strategically designed to build community-based infrastructure that enable ongoing funding to support community-based initiatives.
hyprlocal is a 501(c)(3) nonprofit organization making all donations tax-exempt.