Small businesses and certain nonprofits now have the opportunity to apply for new California business grants through the California Small Business COVID-19 Relief Grant Program administered by California’s Office of the Small Business Advocate.
The first round of applications for funding closed January 13, 2021, but the second round of funding will open at 8 a.m. on February 2, 2021 and run until 6 p.m. on February 8, 2021.
The California Small Business COVID-19 Relief Grant Program is not related to the Paycheck Protection Program, but similarly is designed to provide small organizations impacted by the pandemic.
The grant amounts range between $5,000 and $25,000, meaning many California businesses and nonprofits could benefit from the program.
But business and nonprofit leaders should keep a few items in mind before applying for the grants, as the application process is lengthy.
- Ensure eligibility, including having a yearly gross revenue of $2.5 million or less based on most recent available tax return (2018 or 2019) and a minimum yearly gross revenue of $1,000.
- This presentation about the California Small Business COVID-19 Relief Grant Program has outlined the eligibility requirements.
- Keep in mind the nearing deadline. If you miss it, starting preparing now for when round two is announced.
- Determine your potential grant amount of $5,000, $15,000 and $25,000, which is based upon the business’s annual revenue.
- Confirm you have access to required documentation (refer to the California Small Business COVID-19 Relief Grant Program presentation).
For more information about these new California business grants and access to the application, visit careliefgrant.com. Reach out to your BPM tax advisor to ask questions or more details.