$4.3M In Funds Available For Santa Clara County Small Business Owners

Press release from EMC:

Sept. 13, 2022

Thanks to the Santa Clara County Board of Supervisors, local small business owners have a new resource available to them: $4.3 million in funding from the California Rebuilding Fund, which offers low-interest, fixed-rate loans up to $100,000 and free business coaching to businesses with 50 or fewer full-time equivalent employees. Santa Clara County small business owners are eligible to apply for the funds starting today.

“Santa Clara County is known for ingenuity and entrepreneurship. But with interest rates up, and small business assistance winding down, a lot of our small business owners are struggling to find the funds they need to keep the doors open,” said Santa Clara County Supervisor Joe Simitian. “This $4.3 million in funding for the California Rebuilding Fund is a big boost for our small businesses and the folks they employ.”

A public-private partnership created in 2020 to help the smallest of California’s small businesses build back from the pandemic, the California Rebuilding Fund has distributed nearly $80 million in funding to approximately 1,300 small businesses around the state – with a particular focus on reaching small businesses that are unable to access traditional bank loans. In Santa Clara County, 98 small businesses have received $6.1 million in loans.

While the statewide fund has been nearly exhausted due to high demand, Santa Clara County’s $4.3 million offers an additional chance at funding for local small business owners. Funds will be available until the closing of the California Rebuilding Fund on Nov. 30 or when funds run out, whichever comes first.

Small business owners can view full loan terms, see if they are eligible, and apply at https://www.caloanfund.org/.

This press release was produced by EMC. The views expressed here are the author's own.