December 5, 2023

Small Business

Business Nes

Grant Funding Deadline Extended for Smaller Corporations Impacted by Pandemic

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Mission Valley Mall is empty
Mission Valley Mall is empty other than for a number of restaurants. Photo by Chris Stone

The deadline for operators of modest firms and nonprofits to utilize for $500 million in point out COVID-19 aid funds has been extended, a San Diego County supervisor and small business officers mentioned Monday.

Assist Situations of San Diego’s development
with a modest monthly contribution

Those people who qualify have right up until 11:59 p.m. Jan. 13 to utilize at, an extension of the first deadline day of Jan. 8. Gov. Gavin Newsom announced the grant money past month for modest firms and nonprofits.

The grants will protect small business costs especially for tiny organizations hit by the pandemic. The grants are not first-arrive, 1st-provide. A evaluate of all purposes will start off right after the application period of time finishes.

Daniel Fitzgerald, regional director of the San Diego & Imperial SBDC Community, said a group of more than 100 business enterprise advisers offered over 20,000 hours of just one-on-1 assistance in 2020, “helping modest small business proprietors obtain catastrophe guidance and get via the pandemic.”

“With the new point out and federal applications, our team will be ready and offered to assist modest firms,” he stated.

Supervisor Nathan Fletcher, co-chair of San Diego County’s COVID-19 subcommittee, stated it was a really challenging calendar year for the small business community, specially tiny companies.

“That is the explanation we have labored tricky to offer aid and assist during this tricky time,” Fletcher stated. “I am energized to operate with the San Diego & Imperial SBDC Community and the San Diego Foundation yet again to deliver funding, info and technological support for businesses and nonprofits.”

The federal government’s new stimulus bundle attributes new and renewed aid for little business enterprise entrepreneurs and nonprofits, including:

— added funding for the Paycheck Defense Method, allowing businesses who did not get a loan to utilize and acquire a personal loan equal to 2.5 periods their month to month payroll.
— choices for corporations that have had at the very least a 25% fall in income to apply for a second PPP personal loan (difficult-hit industries this sort of as restaurants and hospitality, can get up to 3.5 moments their regular payroll).
— $15 billion for grants for shuttered venues, which include theaters and museums.
— an extension of the Financial Injury Disaster Personal loan method, which includes a renewal for the up to $10,000 grant software for firms that did not previously receive the funding.
— availability of PPP loans for nonprofit businesses.

Point out and federal grant dollars “will be critical to the recovery of San Diego County companies in the New Year,” Fletcher claimed.

Mark Stuart, the San Diego Foundation’s president and CEO, said new state and federal funding steps are an chance to bolster the nonprofit sector, which in convert supplies considerably-desired relief for San Diegans impacted by COVID-19.

“We will teach and notify San Diego nonprofits about the SBDC companies and schooling obtainable to them to aid in software enhancement so we can bring federal and condition resources household to San Diego to assistance our local community,” he additional.

The San Diego & Imperial SBDC Network, hosted by Southwestern Faculty, is funded by the U.S. Little Organization Administration and the California Governor’s Business of Company and Economic Progress.

— Metropolis News Service

Grant Funding Deadline Prolonged for Modest Firms Impacted by Pandemic was last modified: January 5th, 2021 by Elizabeth Eire

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