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Riverside County Small Business Grant Program Application

Businesses located within Riverside County that have been adversely impacted by the COVID-19 Pandemic are encouraged to apply for $10,000 COVID-19 Small Business Grant from the County of Riverside

Before you start please note:

  • The deadline to apply is Friday, June 19th, 2020 AT 6:00 PM
  • You can return to your application once you start it.
  • For any questions, please send an email to: rcfaq@mainstreetlaunch.org

View Application

View FAQ Sheet

Menifee Cares Grant Phase II CLOSED

The Menifee Cares Grant Phase II has now closed.

In response to the economic hardships experienced by small businesses, as a result from the COVID-19 pandemic and the recent announcement of additional closures by the State of California, the City of Menifee has released Phase II of the Menifee Cares Grant Program, as part of the Menifee Cares Initiative and Menifee Forward campaign. The program provides eligible businesses between $1,500 to $5,000 in grants to assist with the impacts of the current COVID-19 pandemic.

Grant Amounts Available: $1,500 (Minimum) to $5,000 (Maximum)

Eligible Costs: Basic operating capital for staff salaries, PPE’s, supplies/materials/equipment, leasing space, insurance, and/or utilities.

Grant Open/Close Dates: opens October 28, 2020- closing November 11, 2020 at 4pm

Eligibility:

  • Pre-application must be submitted to the City of Menifee through our web portal and reviewed in advance
  • Business must have an existing City of Menifee Business License and be in good standing
  • For-profit business located in the City of Menifee with less than 15 employees (sole proprietors are permitted to apply)
  • Business has been a business for at least one year from June 17, 2020
  • The majority of staff must live in a household with low to moderate-income levels, as described in the application
  • Owner has a valid employee identification number (EIN)

  • Business or owner is registered with DUNS & Sam.gov, or will have applied by the time the funding is granted (www.dnb.com/duns-number.html  and www.sam.gov)
  • Owner is 18 years or older
  • Business has a bank account
  • After disperse of grant funds, there will be a 2-year monitoring period
  • The business must be able to show a need for funding in order to stay in business, maintain their lease payments, or to retain their staff as a result of COVID-19

Selection Process:

At the close of the pre-application period, the City will hold a lottery to randomly order all complete submitted pre-applications and preliminarily select the businesses that are eligible.

Additional Information

Menifee businesses that are interested in the program can review the pre-application form and review more information on the City of Menifee CDBG website at www.cityofmenifee.us/CBDG-Program or City of Menifee’s Economic Development business page www.menifeebusiness.com/menifee-cares/benefits-for-businesses.

In addition to the City of Menifee CARES Grant, there are loan programs available to Menifee businesses through the County of Riverside, which can be reviewed at www.menifeebusiness.com/menifee-cares/benefits-for-businesses or through the Economic Development Resource Toolkit.

Questions?

Please email/phone the following contacts:

Kayla Charters, Menifee Economic Development Department, Business Ombudsman
kcharters@cityofmenifee.us
951-723-3712

Force Majeure Language Guide

WhyWhatBenefitsMore InformationHow to file

One of the most prevalent contractual clauses that may influence rights, remedies, and obligations of businesses

A force majeure event refers to the occurrence of an event which is outside the reasonable control of a party and which prevents that party from performing its obligations under a contract

A force majeure clause is a contract provision that relieves the parties from performing their contractual obligations when certain circumstances beyond their control arise

Please visit econdev.laquintaca.gov

Please review your contract to determine if there is a force majeure provision

Inland Empire Microenterprise Collaborative

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of training, counseling, and microloans

A collection of microlenders who can provide loans of up to $75,000 to small businesses

Small business loans and a diverse coalition of community leaders dedicated to improving small business development

Please visit microbizinsocial.org

Please visit microbizinsocial.org

Microenterprise Loan Program (MLP)

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of critical and necessary business financing

To provide "appropriate" assistance to businesses, which in turn will allow them to expand and diversify, create and/or retain jobs, and increase the commercial and industrial base of the community

Affordable rates and terms, maximum repayment term of 10 years

Please visit rivcoeda.org

Please visit rivcoeda.org

Facebook Small Business Grants

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of assistance for workforce costs, rent payments, operational costs, and marketing costs.

Facebook has created a small business grant that is set to give $100 million in cash grants and ad credits

Free grant money to businesses experiencing challenged from COVID-19

Please visit Facebook.com

To apply, please visit Facebook.com

Opportunity Fund Loan Programs

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of a working capital loan

Opportunity Fund provides working capital loans from $2,600 to $250,000

The loan term is typically 12 to 60 months depending on the type of loan taken and the amount. There is no application fee or prepayment penalty. The repayment schedule is scheduled to match the business’s cash flow.

Please visit Opportunityfund.org

To apply, please visit Opportunityfund.org

Kiva Loan Program

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of a new loan

They provide up to $15,000 for 0% interest for U.S. entrepreneurs. Their loans are crowdfunded

No minimum credit score or collateral required

Please visit kiva.org

To apply, please visit kiva.org

ACCION Loan Program

WhyWhatBenefitsMore InformationHow to file

If your business is unlikely to get a traditional loan

Micro-lender who could give loans from $300 to $250,000

The loan requirements differ depending on the location of the business and the type of loan

Please visit us.accion.org

To apply, please visit us.accion.org

Lendistry Loan Program

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of a new loan

Lendistry offers different types of loans including term loans, express business line of credit loans, and revolving line of credit loans

Their APR is typically between 6.75% and 16%. The repayment schedule is fixed monthly payments

Please visit lendistry.com

To apply, please visit lendistry.com

Pacific Community Ventures Small Business Loans and Microloans

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of access to capital

Loans provided are between $10,000 and $200,000, with terms around 1-5 years and 7-13% fixed interest rate depending on circumstances

There is no minimum credit score requirement, but Pacific Community Ventures prefers for the businesses to have proof they are profitable

Please visit pacificcommunityventures.org

To apply, please visit pacificcommunityventures.org

Main Street Lending Program Expanded Loan Facility

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of a new loan

The maximum size of a loan made in connection with the MSELF cannot exceed (i) 35% of the Eligible Borrower’s existing outstanding and undrawn available debt that is pari passu in priority with the Eligible Loan and equivalent in secured status

This loan is for 4 years with the 1st year deferred. It has a 5% risk retention and a LIBOR rate of +3%. The loan is nonforgivable and must be repaid 15% in the 2nd year, 15% in the 3rd year, and 70% in the 4th year.

Please visit iscs.com

To apply, please visit iscs.com

Main Street Lending Program Priority Loan Facility

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of a new loan

The maximum size of a loan made in the Eligible Borrower’s existing outstanding and undrawn available debt, exceed six times the Eligible Borrower’s adjusted 2019 EBITDA

This loan is for 4 years with the 1st year deferred. It has a 15% risk retention and a LIBOR rate of +3%. The loan is non-forgivable and must be repaid 15% in the 2nd year, 15% in the 3rd year, and 70% in the 4th year

Please visit icsc.com

To apply, please visit icsc.com

Main Street Lending New Loan Facility

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of a new loan

The maximum size of a loan made in the Eligible Borrower’s existing outstanding and undrawn available debt, exceed four times the Eligible Borrower’s adjusted 2019 EBITDA

The loans are for 4 years with the 1st year deferred. In the last 3 years, 33.33% of the loan amount must be repaid annually. This loan is not forgivable and has risk retention of 5%. It has a LIBOR rate of +3%

Please visit icsc.com

To apply, please visit icsc.com

Cares Act - Federal Work-Study

WhyWhatBenefitsMore InformationHow to file

If you are currently enrolled in school and were receiving work-study grants and actively working in a work-study job prior to COVID-19

Relief provided through the CARES Act that offers funding for students in work-study programs that were impacted by COVID-19. 

The federal work-study program provides part-time jobs to students with financial needs allowing them to earn money to help pay education expenses. The program is offered through the Department of Education and administered directly by the financial aid office at participating schools. 

Students in the program may be eligible for payment for lost wages due to COVID-19. Eligible students may be paid all or part of the wages they would have made had they continued working. 

Students who believe they are eligible should contact their school’s financial aid office. Additional information about this program can be found online at studentaid.gov

SBA Disaster Assistance

WhyWhatBenefitsMore InformationHow to file

If you are in need of economic support to help overcome the temporary loss of revenue

Low interest disaster loans to help business recover from declared disasters

SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance. The interest rate is 3.75% for small businesses

Please visit SBA.gov

SBA Disaster Loan Application

Jewish Free Loan Program

WhyWhatBenefitsMore InformationHow to file

If you are a business or individual with urgent financial needs

Jewish Free Loan offers interest-free loans on a non-sectarian basis to those affected by Coronavirus

Loans up to $10,000 can be turned around in a matter of days. No fees. No interest

Please visit JFLA.org

JFLA Pre-Loan Application

CA iBank Disaster Relief Loan Guarantee Program

WhyWhatBenefitsMore InformationHow to file

If your business is experiencing capital access barriers in light of a declared disaster

Provides loan guarantees and direct loans for small businesses

Loans up to $20 million; max guarantee $1 million, guaranteed up to 7 years (term can be longer); and guarantees up to 80-95% of loan

Please visit iBank.ca.gov

Please visit pcrcorp.org/california-small-business-loan

CA iBank Jumpstart Loan Program

WhyWhatBenefitsMore InformationHow to file

If you are a low-to-moderate income (LMI) business owner or operate a business in a LMI community

Provides microloans, technical assistance and financial literacy training

Loan amounts range from $500 to $10,000. Term up to 5 years, fully amortized

Please visit iBank.ca.gov

Please visit iBank.ca.gov to apply

C-19 Microloan

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of financial assistance to cover shortfalls

Provides a microloan to assist with rent, payroll, utilities, and insurance payments due to COVID-19

Loans up to  $50,000,  and can be received in  5-7  days.  The interest rate is 3.25%. for small businesses

Please visit C-19 Microplan

Please visit CDCloans.com to apply

C-19 Working Capital Loan

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of financial assistance to cover shortfalls

Provides a microloan to assist with rent, payroll, utilities, and insurance payments due to COVID-19

Loans up to $150,000. The interest rate for small businesses depends on personal credit history.  It  will be between Prime + 2.75-6.0%

Please visit C-19 Microplan

Please visit CDCloans.com to apply

General Microloan

WhyWhatBenefitsMore InformationHow to file

If you are in need of financial support to cover general business needs

Provides a general microloan to assist with small business needs such as inventory and working capital

Loans up to $50,000. The interest rate is generally around 8%. Funds can be received in 2-4 weeks

Please visit CDCloans.com

Please visit CDCloans.com to apply

Community Advantage

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of general financial assistance

Provides a general microloan to assist with small business needs such as inventory and working capital

Loans up to $250,000. The interest rate is prime + 2.75-6.0%. Funds can be received in 4-8 weeks

Please visit CDCloans.com

Please visit CDCloans.com to apply

CA Employment Development Department Worker Adjustment and Retraining Notification

WhyWhatBenefitsMore InformationHow to file

To protect employees by requiring that employers give a 60-day notice to the affected employees

An employer that fails to provide notice as required to a unit of local government is subject to a civil penalty not to exceed $500 for each day of violation

Rapid Response Teams to assist employers and workers during a mass layoff or plant closing

Please visit EDD.ca.gov

Email eddwarnnotice@edd.ca.gov

CA Employment Development Department Work Sharing Program

WhyWhatBenefitsMore InformationHow to file

If business interruption or slowdowns are causing you to consider layoffs

Business assistance to employees and employers

Full-time employees receive UI benefits, keep current job, and avoid financial hardships

Please visit EDD.ca.gov

Work Sharing Unemployment Insurance Plan Application

Express Bridge Loan (EBL) Pilot Program

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of financial assistance to cover disaster-related purposes

Provides direct loan assistance to small businesses located in communities impacted by Presidentially-declared disasters and disasters declared by SBA under its own authority

Up to $25,000 in loans for disaster-related purposes. The interest rate throughout the  term of  the  loan cannot exceed  the maximum SBA Express interest rate  allowed of Prime + 6.5%

Please visit EBL Program Guide

Please visit EBL Program Guide to apply

Paycheck Protection Program (PPP) Loan

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of financial assistance to cover payroll and a quicker snap-back after a crisis

If employers maintain their payroll, the loans would be forgiven, as well as helping businesses and the economy snap-back quicker after the crisis

Forgiveness of up to 8 weeks of payroll based on employee retention and salary levels, no SBA fees, and at least six months of deferral with maximum deferrals of up to a year

Please visit PPL Loan Guide

Please visit PPL Loan Guide to apply

Economic Injury Disaster Loans and Emergency Economic Injury Grant

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of financial assistance to cover substantial economic injury

These grants provide an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan

Forgiveness of up to 8 weeks of payroll based on employee retention and salary levels, no SBA fees, and at least six months of deferral with maximum deferrals of up to a year

Please visit EIDL Guide

Please visit EIDL Guide to apply

Small Business Debt Relief Program

WhyWhatBenefitsMore InformationHow to file

This program will provide immediate relief to small businesses with non-disaster SBA loans, in particular 7(a), 504, and microloans

SBA will cover all loan payments on these SBA loans, including principal, interest, and fees, for six months

This relief will also be available to new borrowers who take out loans within six months of the President signing the bill into law

Please visit Small Business Dept Relief Program Guide

Please visit Small Business Dept Relief Program Guide to apply

Counseling and Training

WhyWhatBenefitsMore InformationHow to file

If your small business is in need a business counselor to help guide you through this uncertain time, you can turn to your local Small Business Development Center (SBDC), Women’s Business Center (WBC), or SCORE mentorship chapter

These resource partners, and the associations that represent them, will receive additional funds to expand their reach and better support small business owners with counseling and up-to-date information regarding COVID-19

Counseling is free and training is low-cost with these partners. The additional funds that Congress provided will help keep this possible. Mentor-ship through SCORE is always free

Please visit Counseling and Training program guide

To apply, Please visit Counseling and Training program guide

Tax Relief

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of tax relief resources for business related taxes.

These tax resources help cover relief for business taxes, payroll taxes, sales taxes, property taxes, use taxes, and other special taxes

Each tax relief resource has various benefits  including waived penalties and tax extensions

Please visit the tax relief guide

To apply, please visit the tax relief guide

Labor and Workforce Guidance

WhyWhatBenefitsMore InformationHow to file

If your small business is in need of resources to understand what your employees are entitled to

The Labor & Workforce Development Agency (LWDA) wants to keep workers, employers, co-workers, and families safe by assisting with their informational guide

They are trying to make it easier and spread awareness through this centralized source of info to help businesses understand what employees are entitled to

Please visit the Labor and Workforce Development guide

To learn more, please visit the Labor and Workforce Development guide