Thursday, June 24, 2021

California Announces Four Rounds of Funding For Small Businesses

Funding will support small businesses and non-profits that have struggled due to the COVID-19 pandemic

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California’s Office of the Small Business Advocate (CalOSBA), part of the Governor’s Office of Business and Economic Development (GO-Biz), announced today, March 3, four new funding rounds for the California Small Business COVID-19 Relief Grant Program following Governor Gavin Newsom signing into law a comprehensive package of immediate actions that speeds much-needed relief to individuals, families, and businesses suffering the most significant economic hardship due to COVID-19.

Guided by a principle of equity, the Program provides a crucial financial lifeline to traditionally underserved small businesses and non-profits. In its first two funding rounds, the Program selected just over 40,000 small businesses and non-profits to receive approximately $500 million in grant funding. More than 350,000 small businesses and non-profits applied in a competitive process, with funding requests totaling more than $4.5 billion. Additional preliminary data can be found here.

The recently signed package provides $2.075 billion – a four-fold increase to that initial $500 million – for grants up to $25,000 for small businesses impacted by the pandemic. The new package also includes a $50 million allocation for non-profit cultural institutions. Four competitive funding rounds will be conducted by CalOSBA’s selected intermediary, Lendistry. Additional information can be found at CAReliefGrant.com and below:

  • Round 3 (waitlisted applicants from Rounds 1 and 2): Friday, March 5th through Thursday, March 11th, 2021
    • Eligible applicants: This is a closed round and only available to eligible applicants who were waitlisted in Rounds 1 and 2 – only existing applicants will be selected. If you were waitlisted, you do not need to reapply. New applications will not be accepted in this round.
    • Eligible grant award: $5,000 to $25,000
    • Details: This is a closed funding round; no new applications will be accepted  

  • Round 4 (non-profit cultural institutions only): Tuesday, March 16th through Tuesday, March 23rd, 2021
    • Eligible applicants: Only non-profit cultural institutions with any revenue size that meet eligibility criteria found at CAReliefGrant.com
    • Eligible grant award: $5,000 – $25,000
    • Details: Eligible non-profit cultural institutions must complete a new application even if they already applied in Rounds 1 and 2; grants will only be available to non-profits cultural institutions  that did not receive funding in Rounds 1, 2 or 3; grants will be prioritized based on the documented percentage revenue declines based on a reporting period comparing Q2 and Q3 of 2020 versus Q2 and Q3 of 2019
  • Round 5: Thursday, March 25th through Wednesday, March 31st
    • Eligible applicants: current waitlisted small businesses and non-profits not selected in Rounds 1, 2, or 3 and new applicants that meet eligibility criteria found at CAReliefGrant.com
    • Eligible grant award: $5,000 – $25,000
    • Details: Applicants not selected to receive a grant in Rounds 1, 2, & 3 do not need to reapply as they will be automatically moved into Round 5. New applicants will need to apply at CAReliefGrant.com  

  • Round 6: Date to be announced soon
    • Eligible applicants: current waitlisted small businesses and/or non-profits not selected in Rounds 1, 2, 3, 4 or 5 and new applicants that meet eligibility criteria found at CAReliefGrant.com
    • Eligible grant award: $5,000 – $25,000
    • Details: Applicants not selected to receive a grant in Rounds 1, 2, 3 & 5 do not need to re-apply and will be automatically moved into Round 6. New applicants will need to apply at CAReliefGrant.com

The California Small Business COVID-19 Relief Grant Program is administered by CalOSBA through a competitive bid award to its intermediary, Lendistry, and its statewide network of community-based lenders and partners. Many of the state-supported small business centers, which prioritize the expansion of technical assistance to underserved business groups, are also available to help small businesses with the application process in multiple languages and formats.

For more information on grant requirements and eligibility, along with links to application tips and webinars, visit CAReliefGrant.com.

About GO-Biz
The Governor’s Office of Business and Economic Development (GO-Biz) serves as the State of California’s leader for job growth and economic development efforts. GO-Biz offers a range of services to business owners including: attraction, retention and expansion services, site selection, permit streamlining, clearing of regulatory hurdles, small business assistance, international trade development, assistance with state government, and much more. For more information visit, www.business.ca.gov.   

About CalOSBA
The Office of the Small Business Advocate (CalOSBA) helps support economic growth and innovation by working to ensure that California’s small businesses and entrepreneurs have the information, tools and resources they need to plan, launch, manage and grow their businesses successfully and be resilient. The CalOSBA serves to elevate their voices in state government and to advocate on their behalf to help ensure all aspiring and current small business owners and entrepreneurs are provided with the opportunity to access capital, access markets, and connect to the networks and resources they need to succeed. For more information visit the website.

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