New Programs to Assist Small Businesses
OC BOARD OF SUPERVISORS ANNOUNCE GRANT PROGRAM TO SUPPORT LOCAL RESTAURANTS PROVIDING OUTDOOR DINING
In response to the State's action to place additional restrictions on Orange County related to COVID-19, the Orange County Board of Supervisors took immediate action and is launching the Orange County (OC) Restaurant Outdoor Dining Grant Program to support local restaurants providing outdoor dining as required by the State's purple tier guidelines.
The OC Restaurant Outdoor Dining Grant Program will make funds immediately available to award $1,000 grants to 1,000 eligible restaurants through CARES Act federal funding. These urgently needed dollars are intended to help alleviate financial hardships local restaurants are facing following the State's announcement of Orange County moving back to the purple tier. Awardees must use the funding solely to purchase outdoor heaters/warmers, lighting, or canopies/tents to provide for outdoor dining.
Restaurants are required to submit an application on the County's website to be considered for the grant funding. Eligible applications will be funded on a first-come, first-served basis, and incomplete applications will be automatically disqualified.
Due to the overwhelming response of previous County business grant programs, restaurants are strongly encouraged to review the program criteria and gather required documentation in advance, which can be found at https://www.oconestop.com/small-business-relief-programs. This is just another in a series of grant programs and initiatives spearheaded by the Orange County Board of Supervisors to bring economic relief to businesses suffering impacts due to COVID-19.
Applications will open beginning Friday, November 20, 2020, at 9 a.m. PST
STATE ANNOUNCED NEW SMALL BUSINESS LOAN PROGRAM
On November 20, Governor Newsom announced the creation of the California Rebuilding Fund, a loan program to support California’s small businesses. To be eligible, a business must have 50 or less full-time equivalent employees (FTEs) and gross revenues of less than $2.5 million in 2019. Please visit the Fund’s website for more eligibility details.
The program offers loans of up to $100,000 with a fixed rate of 4.25%. Interested small business owners can apply at www.CALoanFund.org.
The portal will begin accepting applications at 12:00 p.m. PST on Friday, November 20 and can be accessed through the Fund’s website.