$56.5 Million in New Funding Available to Help Small Businesses Build Back From COVID-19 Pandemic.
California Rebuilding Fund – $56.5 Million in New Funding Available to Help State’s Smallest Businesses Build Back From COVID-19 Pandemic.
The California Rebuilding Fund is a loan program to support California’s small businesses—especially those located in economically disadvantaged and historically under-banked areas of the state. Businesses who employed 50 or less full-time equivalent employees (FTEs) and had gross revenues of less than $5 million or below in 2019 are eligible to apply. Full eligibility requirements are included in the Business Requirements tab.
The loans are flexible, transparent and are designed to help businesses access the capital and advisory services they need to get through these challenging economic times.
To fill out a pre-application and match with a participating community lender, please click here.
Please note, this program is not associated with the federal Paycheck Protection Program (PPP) or any other SBA program. The loans are not forgivable in part or whole. The loans will need to be paid back over a 3- or 5-year term with a fixed annual interest rate that is currently 4.25%.
Full Details at: https://www.connect2capital.com/p/californiarebuildingfund/