SAN RAFAEL, Calif. (KRON) — Marin County small businesses have a chance at additional relief due to the COVID-19 pandemic.
The county said small business owners can start applying on Feb. 22 for grants up to $10,000 or interest-free loans up to $50,000.
The relief payments come out of nearly $1 million in federal funding which was allocated for businesses. The Marin County Community Development Agency recommended dividing the funding by communities who have highest COVID-19 infection rates in the county.
For example, 53% of the funds will be available for businesses in the area of San Rafael, 27% for businesses near Novato, and finally 20% for the remaining areas of the county.
A San Francisco organization is partnering with Marin for the first time to help with distribution. The Mission Economic Development Agency “serves historically under-resourced families throughout the Bay Area, especially those among the Latinx population,” according to a press release.
Here are the qualifications and requirements to apply:
- Providing an Individual Taxpayer Identification Number (ITIN) or Social Security Number (SSN)
- Be a business located in Marin and with a business address in Marin
- Have a valid Marin business license
- Be a for-profit business in good standing
- Have annual business revenues of less than $2.5 million
- Have no town, city, or county tax liens or judgments
- Demonstrate a 25% drop in revenues since January 1, 2020
- Have no more than 50 employees
- Have not previously received a Paycheck Protection Program (PPP) loan of more than $150,000
How are they selecting which businesses get approved?
The county said it will be a lottery system for those that apply, due to high demand. The deadline to submit is by 11:59 p.m. on March 15.