Nearly $ 1 million in business relief loans, grants available to Marin
MARIN COUNTY, Calif .– Small business owners in Marin County will soon be able to apply for nearly $ 1 million in grants and interest-free loans from the county’s federal COVID-19 pandemic relief fund, have county officials announced Thursday.
Starting Monday, qualified small business owners will have access to grants of up to $ 10,000 and loans of up to $ 50,000 through the Marin County Small Business Fund.
County officials say $ 800,000 in loans and $ 115,000 in grants will be made available through the fund. The county has contracted with the Mission Economic Development Agency in San Francisco to distribute loans and grants.
The funding comes from the federal coronavirus aid, relief and economic security law, which lawmakers approved last March just after the pandemic began in earnest.
According to the county, 53 percent of the funding will go to businesses in and around the county seat of San Rafael and 27 percent will be targeted to businesses in and around Novato.
The remaining 20 percent will go to the rest of the county. Allowances are tied to local rates of coronavirus infection, according to the county.
Small businesses can submit loan and grant funding applications between Monday and March 15 and must meet several criteria, including a demonstrated 25% or more drop in revenue since January 1, 2020, employing less than 50 people and having an annual turnover. less than $ 2.5 million.
Small business owners can contact MEDA at marinfund[email protected] to be notified when applications open on Monday.
By Eli Walsh / Bay City News Foundation
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