Highlights from Video
1. California Small Business Relief Grant Basics
Starting at 0:37 in video
- Application opens on December 30, 2020 at 6am
- Website is CAReliefGrant.com to apply
- First round closes January 8 at midnight
- Not first come, first served!
- Lendistry is intermediary
2. Grant amounts
Starting at 1:49 in video
- $475m is available – $237.5m in round 1
- Up to $25K is available per business based on revenue
- $1K – $100K revenue = $5K grant
- $100K – $1m revenue = $15K grant
- $1m – $2.5m revenue = $25K grant
- Based on latest tax return – probably 2019
- Business must have been active since 6/1/2019
3. Rules & What the Funds Can Cover
Starting at 3:35 in video
- Must be impacted by COVID-19 restrictions
- Use relief grant funds for:
- Payroll (including health insurance)
- Rent, utilities, loan payments
- Reopening expenses
- Costs related to complying with restrictions
- Multiple locations or entities – only 1 application
4. Application Documentation
Starting at 6:11 in video
- Application will ask for:
- Most recent tax return
- Organization documents (Articles of Incorporation, Certification of Organization, etc.)
- Copy of ID
- Bank account information (active in last 90 days)
- Be prepared to answer questions about type of business (NAICS Code), ownership, etc.
5. Who Will Get the Grant?
Starting at 8:00 in video
- Who will get the Grant:
- Locations in hardest hit areas
- Revenue loss
- Industries that are affected the most
- Underserved populations – women-owned, minority-owned, low-income areas
- Be prepared to have revenue figures for 2019 and 2020
- 4/1/2019 – 9/30/2019
- 4/1/2020 – 9/30/2020
6. Details & Tips
Starting at 9:35 in video
- Notifications will be sent via email and text starting January 13 (be sure to check your spam folder!)
- Use Chrome browser
- Don’t use a generic company email like “info@…”
- Use high quality scans of your documents and not photos
- You can apply even if you received PPP or EIDL (!!!)
- California Relief Grant is (probably) taxable
- No receipts are required to be submitted but do keep them for 3 years
- CAReliefGrant.com to apply
- Californiasbdc.org currently offering a daily webinar at 11am going over details of the California Small Business Relief Grants.
You can check out our COVID-19 resource page for additional blog posts, videos and helpful information for businesses related to the Coronavirus pandemic.
