State Funding & Support Available for Businesses
Dec 04, 2020
State Funding & Support Available for Businesses
Small Business Relief Grant Governor Newsom and the Legislature announced a package of assistance for small businesses impacted by COVID-19, including $500 million in grants. While the program is being created, please sign up here to receive an update when launched. Additional assistance announced: tax relief (click here); and recovery loans through the California Rebuilding Fund.
- Sales Tax Deferrals:
- Automatic 1 month extension for tax payers with less than $1M in sales tax
- Expand interest-free payment agreements to larger companies with up to $5M in sales tax
- 6% of businesses qualify for the extension
- $100 Million Main Street Hiring Tax Credit
- $1,000 per qualified employee
- Up to $100,000 for each business employer
- Applications opened December 1st - apply ASAP!
- Emergency Relief Package For Small Business
- $500 million in COVID relief funds
- Grants up to $25K for small businesses/ non-profits/cultural institutions
- Program will launch soon - get notified when it does here.
- California Rebuilding Fund:
- $125 million for low interest loans for small businesses
Loans up to $100,000 with affordable and flexible terms
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