Starting December 30th, 2020, REALTORS® can apply for California’s new relief grant program for small businesses affected by the COVID-19 pandemic. The program provides micro grants ranging from $5,000 to $25,000 to eligible small businesses (including independent contractors and sole proprietors) impacted by COVID-19 and the related health and safety restrictions. The grant amount will be based on the business’s annual revenue as documented in its most recent tax return:
- For annual revenue of $1,000 to $100,000, the available grant amount is $5,000.
- For annual revenue of greater than $100,000 up to $1,000,000, the available grant amount is $15,000.
- For annual revenue of greater than $1,000,000 up to $2,500,000, the available grant amount is $25,000.
A small business must satisfy certain criteria to be eligible to receive a grant award — read the criteria in full here. Please keep in mind that even if you meet all eligibility requirements, it is not guaranteed you will receive a grant.
Applications for the program must be submitted through a Community Development Financial Institution (CDFI) that has partnered with the state of California to distribute the funds. The list of partners, organized by location and by language services, can be found here.
The first round for applications opens on December 30, 2020, at 8:00 a.m. and closes on January 8, 2021, at 11:59 p.m. Approval notifications will begin on January 13, 2021. There will be a second round for application submissions and reviews, although the dates for that round have not yet been announced.
See the grant California Small Business COVID-19 Relief Grant Program website for more information.