Microbusinesses in Yolo County that have been severely impacted by the COVID-19 pandemic are now eligible for grant funding.
Back in January, the California Office of the Small Business Advocate awarded Yolo County funding to administer the Microbusiness COVID-19 Relief Grant Program, which aims to prioritize $2,500 in grant funding for underserved small business groups.
“These businesses have faced historic barriers to accessing capital, including majority-owned and operated by women, minorities or persons of color, veterans, undocumented individuals, and individuals living in rural or low-wealth areas on low incomes,” the county said in a press release on Tuesday.
Eligibility requirements include:
* Business had less than $50,000 in revenues in the 2019 tax year
* Business began operations before Dec. 31, 2019
* Business currently has fewer than five full-time equivalent employees and had fewer than five full-time equivalent employees in the 2019 and 2020 tax years
* Business was significantly impacted by the COVID-19 pandemic
* Business is currently operating or has clear plans to reopen once permitted to do so
* Business owner is the majority owner of the qualified business
* Business owner’s primary means of income in the 2019 taxable year was the business
* Microbusiness owner did not receive a grant under the California Small Business COVID-19 Relief Grant Program
Documentation to verify eligibility includes a local business permit or license, bank statement, tax return, or trade account and more.
Eligible uses of funds are limited to costs incurred due to the COVID-19 pandemic and health and safety restrictions, such as business interruptions or business closures incurred due the COVID-19 pandemic.
Applications are reviewed and processed on a first-come, first-serve basis and the program will be open through Oct. 15, 2022, or until all available funds are distributed.
For online and printable applications available in English, Spanish, and Russian and information on the Microbusiness COVID-19 Relief Grant Program, visit www.yolocounty.org/microbusinessgrant.