Community News: From time to time we let you know about community events and resources of interest to business owners.
The California Rebuilding Fund is a new program built to support California’s small business owners as they adapt, reopen safely, and recover from the effects of COVID-19.
You may be eligible for a loan if you:
- Own a small business in California with 50 or fewer employees
- Had revenues under $2.5 million in 2019
- Meet the program’s standard underwriting guidelines (includes at least a 25% reduction in revenues compared to a prior one-year period)
- For full eligibility details, please see the website
About the loans:
- Loans are being made through local community lenders who can help you understand the terms and determine if a loan is the right option for your business
- Loans will range from $2,000 to $100,000; can be used for various business purposes
- Current loan terms include a fixed 4.25% interest rate and a 3- or 5-year term option
- For full product details, please see the website
This program has been built in partnership with public, private, and nonprofit leaders across the state to ensure California’s smallest businesses can access the resources and capital they need to get through these challenging economic times.