This table shows the most common available relief programs and expenses they can be used for. For more details on available programs,
click here.
The deadline to apply for the current PPP round is March 31. Please note that not all financial institutions are processing PPP loans. If you are interested in applying for a PPP loan, but are having trouble finding a lender, try
this resource. You are not obligated to use a local lender.
American Rescue Plan
As was noted in our City Manager’s Update earlier today, the President signed the American Rescue Plan into law, today. The Associated Press has a
good summary of what’s included, from direct payments to individuals, extended unemployment benefits, aid for schools and business, plus a lot more. This will be welcome news to everyone who has been impacted by this year-long pandemic.
Restaurant Relief
Part of the American Rescue Plan includes grants equal to the amount of a restaurant’s revenue losses, up to a maximum of $10 million per company and $5 million per business location. Eligible companies cannot own more than 20 locations, and they cannot be publicly traded. This program sets aside $5 billion for the smallest restaurants, whose annual revenue is $500,000 or less. As program details become available, we will include in a future Joint Communication.
Funding for the Small Business Relief Grant Program was recently quadrupled to $2 billion, with multiple funding rounds announced. The program, which has grants between $5,000 and $25,000, prioritizes small businesses in disadvantaged communities. Businesses that do not get funded in a particular round are automatically waitlisted for subsequent funding rounds. New applicants will need to apply through the program website.
- The fourth funding round for this grant program will open March 16 and will close March 23. It is reserved specifically for non-profit cultural institutions.
- The fifth round will open March 25 and close March 31. Waitlisted applicants will also be considered in this round.
- The sixth round has been announced but no specific dates have been cited. New and waitlisted applicants will be considered in this round.
Other state programs
The Carlsbad Business Loan Program has been updated to provide increased access to relief and rebuilding funding for Carlsbad small businesses to keep operations going. There are two loan types for Carlsbad small businesses.
- Small business microloans of between $5,000 -$10,000 for businesses with $2,000,000 or less in gross revenue or 15 or fewer employees
- Small business recovery loans of between $10,000 - $50,000 for businesses with $5,000,000 or less in gross revenue and 50 or fewer employees
- Both loans types include scaled interest rates depending on how quickly the loan can be repaid. Neither loan type is forgivable. Access the application here.
Applicants may also apply for multiple loan products if they meet all eligibility requirements. Those that have been approved for a loan, may reapply for a second loan up to the current total limit. No business may receive more than $60,000 total between all loan products.
The city’s communications team has been diligently promoting ways that residents and guests can safely patronize our Carlsbad merchants. With ads being featured on platforms across North County, and resources being developed for Carlsbad businesses to help promote our safe environment, the campaign shows both how we can all support our business community and how some of our Carlsbad businesses are going the extra mile to keep us safe. Keep checking back as this program evolves to feature new resources.
Inclusive Recovery – Stakeholder Engagement Opportunity
Between February and May 2021, the City of Carlsbad Office of Innovation and Economic Development (OIED) is assessing COVID-related impacts and response for future economic strategy and programming. As part of the process, a series of stakeholder engagement sessions with local businesses and intermediaries will provide essential context on COVID impact, city response, and potential gaps to address.
The week of March 22, OIED will be hosting a series of stakeholder input sessions, with emphasis around business support organizations, innovation companies and start-ups, tourism businesses, local small businesses, and disables, veteran, minority, and women-owned businesses. To participate, please contact us at
business@carlsbadca.gov for more information.
With the anticipated tier change and continued progress toward further reopening, the Office of Innovation & Economic Development is available to assist businesses with challenges they may be facing through the recovery. Please email us at
business@carlsbadca.gov with any questions.