Mayor London Breed Announces Expansion in Financial Relief for Small Businesses Impacted by COVID-196/4/2020 On June 4, 2020, Mayor London N. Breed and the Office of Economic and Workforce Development announced the opening of the application process for $6.5 million in funds to support small businesses., including: (1) $1.5 million for the San Francisco’s Small Business Resiliency Fund, and (2) $5 million for the Hardship Emergency Loan Program (SF HELP) in the form of grants and 0% interest loans to support over 300 small businesses.
The second phase of San Francisco Resiliency Fund grant program will provide a total of $1.5 million to at least 190 struggling small businesses of up to $10,000 in aid. The funds may be used to support business expenses such as rent, payroll, and utilities or to supplement their income resulting from a direct loss of business revenue. An additional $5 million to SF HELP will provide approximately 110 small businesses up to $50,000 in zero interest loans. SF HELP provides flexible funding to businesses unable to access other types of government loan products. Finally, the City also announced the awarding of nearly $800,000 in Neighborhood Small Business Mini Grants to 276 small independently-owned businesses in the Bayview, Central Market and the Tenderloin, Excelsior, Japantown, Fillmore, Mission, South of Market, and the Oceanview Merced Ingleside neighborhoods. An additional $200,000 is currently being processed as part of the Women Entrepreneurship Fund. For more information about the application process and funding, please visit: https://sfmayor.org/article/mayor-london-breed-announces-expansion-financial-relief-small-businesses-impacted-covid-19 Smith Shapourian Mignano PC is available to answer any questions or concerns you may have regarding San Francisco’s Small Business Resiliency Fund and the Hardship Emergency Loan Program. This blog does not constitute solicitation or provision of legal advice, and does not establish an attorney-client relationship. This blog should not be used as a substitute for obtaining legal advice from an attorney licensed or authorized to practice in your jurisdiction. You should always consult a suitably qualified attorney regarding any specific legal problem or matter in a timely manner, as statutes of limitations may bar your claim.
1 Comment
Edwin Castro
2/26/2023 10:38:35 am
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