The California Small Business COVID-19 Relief Grant Program has announced that it will take applications from California small businesses impacted by COVID-19 for grants of between $5,000 and $25,000. The application period begins at 8 a.m. on December 30, 2020, and continues until 11:59 p.m. on January 8, 2021.
Eligible businesses are those with between $1,000 and $2.5 million in annual gross revenues based on their most recently filed tax return, and include sole proprietorships and nonprofits.
The grant amount that will be awarded is:
- $5,000 for businesses with annual revenue of $1,000 to $100,000;
- $15,000 for businesses with annual revenue greater than $100,000 up to $1 million; and
- $25,000 for businesses with annual revenue greater than $1 million up to $2.5 million.
Grants will be awarded based on the following prioritization:
- Geographic distributions based on COVID-19 health and safety restrictions;
- Industry sectors most impacted by the pandemic; and
- Underserved small business groups (e.g., veterans, low-income or rural communities, and women or minority owned businesses).
Grant awards will be announced beginning the week of January 13, 2021.
Details about the program and how to apply are available at:
Spidell Publishing will be closed from 5 p.m. tonight, December 23, until 7 a.m. Monday, December 28. Happy holidays!
Sign up for Spidell’s Flash E-mail — Get breaking news delivered to your inbox, plus other free analysis and information for tax professionals. Join our community and stay at the top of your game. Click here to sign up.