November 30, 2020 Governor Newsom announced the following immediate support and relief: 1.) Tax Relief for Businesses Impacted by COVID-19 2.) $500 Million for New COVID Relief Grant for Small Business 3.) Increase Funding for the California Rebuilding Fund by $12.5 million.
Starting November 20, 2020 Governor Newsom launched the California Rebuilding Fund, which includes non-forgivable loans for micro-business owners backed by the iBank at 4.25%. The California Rebuilding Fund is a loan program to support California’s small businesses—especially those located in economically disadvantaged and historically under-banked areas of the state. Businesses who employed 50 or less full-time equivalent employees (FTEs) and had gross revenues of less than $2.5 million or below in 2019 are eligible to apply. Full eligibility requirements are included in the Business Requirements tab.
We are driven by the fundamental belief that when businesses succeed, our community thrives! We are a convener of leaders and influencers. A catalyst for business growth, and a champion for a stronger community.