A flurry of State Loan and Grant Programs Announced by California

Date: December 01, 2020

NFIB members encouraged to see if they might be of help

In the past couple of weeks, while it still remained uncertain if Congress will come up with a new round of Paycheck Protection Program loans, California made three major announcements about financial help available to small businesses in the state.

  • On December 1, the California Department of Tax and Fee Administration began accepting applications for the small business hiring credit. The application period will last until Jan. 15, 2021. For more information on which small businesses qualify, how much can be applied for, and to request a credit, click here.
  • On December 30, Gov. Gavin Newsom announced he is extending by three months the deferral of state sales taxes collected by small businesses and owed to the state. Additionally, he is making $500 million in new COVID-19 relief grant funding available, which is good for up to $25,000 per business. More information, including how to apply, can be read here.
  • On November 20, the state launched a California Rebuilding Fund with public/private contributions, which applicants can request as much as $100,000 from. Complete information is available from this story on the Fund’s website.

“These are grim times and I wish I could report that it will change soon,” said John Kabateck, NFIB California state director. “We appreciate Governor Newsom doing what he can but call on him to also continue to make concerted efforts toward the responsible but swift reopening of Main Street enterprises, so we can get jobs and the economy going again.”

More Loan and Grant Information

State Treasurer Fiona Ma has a COVID-19 resources page, which has a Small Business Resources section listing all federal, state, local, private, and nonprofit financial help available.

 

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