The San Diego County Board of Supervisors voted yesterday to allocate federal CARES Act funding for a Small Business Stimulus Grant Program. The goal of the Small Business Stimulus Grant Program is to provide a lifeline grant to many local small businesses to get them open, keep them open, and help prevent more from going out of business. The County of San Diego’s Small Business Stimulus Grant Funding will provide economic assistance to help businesses and nonprofit entities impacted by COVID-19. Financial assistance will be allocated to eligible, qualified small businesses and nonprofit entities with final award recommendations made by individual district offices based on the availability of funds, program guidelines, and the submission of all required information and supporting documentation.
The Small Business Stimulus Grant Program is LIVE today. Eligible businesses will be determined by the following criteria:
- Are you a private for-profit or non-profit businesses.
- Do you have one hundred (100) or fewer employees, including sole proprietorships and independent contractors?
- Are you headquartered in San Diego County, providing local goods and services to the community?
- Do you have a minimum 1-year operating history as of February 14, 2020?
- Have you experienced financial hardship as a result of COVID-19? These impacts must be documented, quantifiable, and clearly driven by COVID-19.
- Business License
- Prior year applicant corporate tax return
- Letter from IRS showing small business Federal Tax Identification Number (TIN aka Employer Identification Number, EIN) and status as a for-profit corporation or Nonprofit Tax ID form
- Monthly financial statements
- Detailed payroll report as of February 14, 2020
- W-9 Form
- Form 590 (Witholding Exemption Form)