$50M In Grants For RivCo Small Businesses: Framework Underway

RIVERSIDE COUNTY, CA — A proposal on how to allocate $50 million to Riverside County small businesses impacted by the coronavirus shutdown will be laid out at the next board of supervisors meeting, Riverside County Board Chair V. Manuel Perez announced Thursday.

The money is part of $431 million in CARES funding from the federal government to the county in response to the COVID-19 pandemic.

The $50 million could provide grants of up to $10,000 to local businesses that would not need to be repaid, according to Perez. The county’s Business & Community Services department plans to present a program for approval at the June 2 board meeting, which will also lay out guidelines for businesses that want to apply.

“It is very important that we make support available to businesses that have been struggling and are in great need of assistance,” Perez said. “This funding is an economic response to COVID-19 that will benefit workers, families and the economy and communities of Riverside County. We see this program as a start that will help small businesses keep the dreams they have worked so hard to build.”

The program will be available to Riverside County small businesses located in cities and unincorporated areas, with the aim of helping to keep them solvent, according to Perez's office.

The program will require businesses to submit a plan for how they will protect the health of employees and customers.

Recently, the county established the COVID-19 Business Assistance Loan program allocating $1 million to assist small businesses impacted by the pandemic. Funding for microloans is still available for up to $15,000 for small businesses with five employees or less. More information is available at www.RivCoBizHelp.org.