HELPFUL INFORMATION FOR YOUR BUSINESS DURING COVID-19

Facebook
Reddit
Twitter
LinkedIn
Digg
Email

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.

About the Author

Andy Smith

Andy Smith

Andy Smith, Founder of Numberwise, has been a CPA since 2004 (pretty impressive, huh?). He leads the strategic vision of the company, signs all those fun tax returns, and tries not to get in the way too much. Learn more about Andy and the rest of the team on the About Us page.
Andy Smith

Andy Smith

Andy Smith, Founder of Numberwise, has been a CPA since 2004 (pretty impressive, huh?). He leads the strategic vision of the company, signs all those fun tax returns, and tries not to get in the way too much. Learn more about Andy and the rest of the team on the About Us page.
SHARE THIS POST
Facebook
Reddit
Twitter
LinkedIn
Digg
Email

More Blogs to Explore...

Human Resources
Rachel Law

How to Fix a Staff Shortage

You’ve seen the headlines about “The Great Resignation” in which masses of people resigned from their jobs. The Great Reshuffle would be a more accurate

Read More »
Stressed Business Owner
Business Management
Steve Turk

Get Out of My Head

Running a business is stressful! You worry about your company, employees, and customers. It can feel like the weight of the world is on your

Read More »

Leave a Reply

Your email address will not be published.

Owl-1-yellow-transparent

Ready to get started?

We would love to help! Send us a message and we will get back you you shortly.

Stay Informed!

Sign up for our newsletter and stay up-to-date on all things Numberwise.

Name(Required)
This field is for validation purposes and should be left unchanged.

This website uses cookies to ensure you get the best experience on our website.