Individual Grants Are Now Available To Small Businesses In Riverside County
Individual grants of up to $10,000 are now available to Riverside County small business owners thanks to the Coronavirus Aid, Relief & Economic Security, or CARES Act.
The CARES Act provided $431 million to Riverside County, and $45 million of that went to an allotment for small businesses.
President Donald Trump signed the act into law in March.
Riverside County is distributing that money in grants up to $10,000 for businesses hit by the coronavirus.
Rob Moran is the Deputy Director of Business Services for Riverside County.
"Our Board of Supervisors established this Riverside County COVID-19 Business Assistance Grant Program to provide $10,000 grants for eligible businesses,” Moran says.
Moran says there are a few criteria businesses have to meet to be eligible for the grant.
“Well, first and foremost they need to be a private for-profit located in Riverside County. And then be able to demonstrate financial hardship as a result of COVID-19. The eligibility criteria is pretty broad and it can be used for payroll, employee retention, working capital, purchasing of personal protective equipment, paying rent, vendor invoices. So, a variety of different uses,” Moran says.
Those ineligible for these grants includes cannabis-related businesses, adult entertainment-related businesses, casinos, public entities, and non-profits.
Riverside County has set up a different program for providing assistance to non-profits.
You can learn more and apply for the program at rivcobizhelp.org.