California Rebuilding Fund Launches to Help Small Businesses Survive
On Friday, the State of California launched the California Rebuilding Fund to help keep small businesses afloat during this awful pandemic. Nearly 4 million small businesses need access to money now that the federal relief is running out and Snitch McConnell is holding up the next stimulus bill in Congress.
According to KTVU, “The California Rebuilding Fund began accepting applications at noon Friday for loans of up to $100,000 with a 4.25% interest rate over five years. To qualify, small businesses must have 50 or fewer full-time equivalent employees (FTEs) and 2019 revenues of less than $2.5 million.”
The direness of the financial situation of many small businesses should not be a surprise to anyone. Entire industries like nightlife, conventions, and tourism have been utterly destroyed while bars, restaurants, and retailers are closing shop in heartbreaking numbers. This is why it is so incredibly important that you do NOT shop on Amazon for the holidays this year.
If you’re looking for more information about the California Rebuilding Fund and you want to apply, you can do that right here.