Governor Gavin Newsom has signed a budget package that includes several critical provisions to help small businesses in California stay afloat.
SMALL BUSINESS SUPPORT:
· $1.5 billion to renew the state’s small business grant relief program and provide three additional rounds of grants to small businesses
· $50 million for I-Bank lending programs that will leverage federal dollars to help small businesses to expand their enterprises, including the California Rebuilding Fund, which will help business owners access capital for long-term recovery
· $50 million one-time for grants to local governments and nonprofits to provide direct relief to eligible microbusinesses
· $35 million for one-time microgrants of up to $10,000 to seed small business creation, particularly for underserved entrepreneurs facing opportunity gaps
includes support for the Office of Healthcare Affordability to help establish accountability to lower costs for healthcare for small business owners and their employees.
What to learn more.........on Friday July 30th @ 12PM join Small Business Majority and CAMEO as they discuss what we know and still don't know about the programs in the Comeback Plan. Topics of discussion will include:
· The additional $1.5 billion COVID-19 Relief Grant Program
· The new California DREAM Fund for new entrepreneurs
· The new "Microbiz" Grant Program for local governments and non-profits
· The California Venues Grant Program within the California Office of the Small Business Advocate (CalOSBA)
· Learn how you can get your city involved in the California Rebuilding Fund to enable more loans in your area
Morgan Hill Chamber of Commerce