California’s Office of the Small Business Advocate (CalOSBA), part of the Governor’s Office of Business and Economic Development (GO-Biz), announced four new funding rounds for the California Small Business COVID-19 Relief Grant Program.
Guided by a principle of equity, the Program provides a crucial financial lifeline to traditionally underserved small businesses and non-profits. In its first two funding rounds, the Program selected just over 40,000 small businesses and non-profits to receive approximately $500 million in grant funding. More than 350,000 small businesses and non-profits applied in a competitive process, with funding requests totaling more than $4.5 billion.
The recently signed package provides $2.075 billion – a four-fold increase to that initial $500 million – for grants up to $25,000 for small businesses impacted by the pandemic. The new package also includes a $50 million allocation for non-profit cultural institutions. Four competitive funding rounds will be conducted by CalOSBA’s selected intermediary, Lendistry. Learn more
