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State opens new round of small business aid

By   /   Friday, March 5th, 2021  /   Comments Off on State opens new round of small business aid

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Small businesses that didn’t receive funding in earlier rounds of a state program designed to give those businesses a boost have additional chances to get help.

On Feb. 23, Gov. Gavin Newsom signed a law that provided an extra $2 billion for grants of up to $25,000 for small businesses impacted by the pandemic. The law allocates $50 million of that total for non-profit cultural institutions.

Lendistry, which is working to administer the CA Small Business COVID-19 Relief Grant Program, will be opening four additional rounds of applications. The third round is a closed round, and it is only available to eligible applicants that were waitlisted in the first two rounds of the program. The third round opens on March 5 and closes March 11.

The fourth round, which is The Arts & Cultural Program, will benefit California eligible nonprofit cultural institutions. Those institutions must be registered 501(c)(3) nonprofit entities that satisfy the criteria for a qualified small business, but there is no limitation on annual gross revenue. Said nonprofits must be classified as part of the art, theater, dance, music, performing arts, museums, historical site, zoo, nature park, botanical garden or related industries. To apply for this round, non-profit organizations must complete a new application, even if they already applied for the first rounds.

Application dates for round four open March 16 and close March 23. Information about the fifth and sixth rounds of the program is not yet available.

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