Four new rounds to address ongoing need. Funding will support small businesses and non-profits that have struggled due to the COVID-19 pandemic.
Sacramento, CA – California’s Office of the Small Business Advocate (CalOSBA), part of the Governor’s Office of Business and Economic Development (GO-Biz), announced today four new funding rounds for the California Small Business COVID-19 Relief Grant Program following Governor Gavin Newsom signing into law a comprehensive package of immediate actions that speeds much-needed relief to individuals, families, and businesses suffering the most significant economic hardship due to COVID-19.
Guided by a principle of equity, the Program provides a crucial financial lifeline to traditionally underserved small businesses and non-profits. In its first two funding rounds, the Program selected just over 40,000 small businesses and non-profits to receive approximately $500 million in grant funding. More than 350,000 small businesses and non-profits applied in a competitive process, with funding requests totaling more than $4.5 billion. Additional preliminary data can be found here.
The recently signed package provides $2.075 billion – a four-fold increase to that initial $500 million – for grants up to $25,000 for small businesses impacted by the pandemic. The new package also includes a $50 million allocation for non-profit cultural institutions. Four competitive funding rounds will be conducted by CalOSBA’s selected intermediary, Lendistry. Additional information can be found at CAReliefGrant.com and below:
The California Small Business COVID-19 Relief Grant Program is administered by CalOSBA through a competitive bid award to its intermediary, Lendistry, and its statewide network of community-based lenders and partners. Many of the state-supported small business centers, which prioritize the expansion of technical assistance to underserved business groups, are also available to help small businesses with the application process in multiple languages and formats.
For more information on grant requirements and eligibility, along with links to application tips and webinars, visit CAReliefGrant.com.