As we make our way through this holiday season, we wanted to take this opportunity to provide an update to our business community about new information regarding financial relief resources announced by the state and county. If you have any questions, please do not hesitate to reach out to us at [email protected].
California Small Business COVID-19 Relief Grant Website Launches
In early December, Governor Newsom announced the formation of the California Small Business Relief Grant. This program supports small businesses and nonprofits impacted by COVID-19.
Today, Dec. 23, the state launched the new website CAReliefGrant.com so that businesses can review information on eligibility, prepare business documents and get ready to apply.
Applications for Round 1 will open on Wednesday, Dec. 30, 2020, and close end of day on Friday, Jan. 8, 2021. Round 2 will be announced in the near future. Eligible small businesses and nonprofits may apply during these times, directly, at CAReliefGrant.com, or with assistance from a partner.
One of the state’s Community Development Financial Institutions (CDFIs), Lendistry, is supporting the state to distribute these grants and partnering with other CDFIs and small business centers to assist businesses with applications. To connect to a partner or find more information on the program and requirements, visit CAReliefGrant.com or join a small business webinar available daily in multiple languages. If interested in a webinar briefing on the grant program, register here.
Other State Relief Programs for Businesses
In addition to the California Small Business COVID-19 Relief Grant, the State of California also has the following relief programs that can assist small businesses.
Tax deferrals
- Automatic three-month extension for business taxpayers with up to $1 million in sales tax
- Expand interest-free payment agreements to larger companies with up to $5 million in sales tax
- Expand eligibility to industries heavily impacted by operations restrictions including bars & restaurants, hair salons, hospitality industry, etc.
- The credit provides $1,000 per qualified rehired employee, up to $100,000
San Diego County Small Business Stimulus Grant Program
The County of San Diego announced an additional $20 million in small business grant funds to support small businesses. Each county district has its own pool of funds for businesses. To apply, determine eligibility, or learn more about the program, click here.
Carlsbad Business Loan Program
The Carlsbad Business Loan Program provides funding to 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 - $25,000 for businesses with $3,000,000 or less in gross revenue and 50 or fewer employees
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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.
Gift Carlsbad this Holiday Season
Looking for last minute ways to safely support a local Carlsbad business while doing your holiday shopping? Check out Gift Carlsbad. The shop local program gives you a bonus amount when you purchase a gift card to a participating merchant. A win-win for merchants and patrons!
Throughout this holiday season, we continue to be amazed by how our businesses have remained resilient and determined to get through these challenging days. We appreciate our businesses’ efforts to keep our residents, patrons and visitors safe.
The Office of Innovation & Economic Development is available to assist businesses with challenges they may be facing. Please email us at [email protected] with any questions.
