Expansion of Financial Relief for Small Businesses
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. It includes the Small Business Resiliency Fund and the Hardship Emergency Loan Program (SF HELP).
San Francisco Resiliency Fund
The second phase of SF Resiliency Fund grant program is now open with grants for up to $10,000 for San Francisco small businesses affected by COVID-19 with less than 5 employees. The funding can be used for payroll, rent, utilities, and inventory. Businesses who have applied for the Phase One of the Resiliency Fund but were not selected for funding will automatically be entered into Phase Two. You do not need to reapply. For more information, eligibilities and to apply, visit https://sf.gov/get-small-business-grant-resiliency-fund. Applications will be accepted until June 17, 2020.
SF Hardship Emergency Loan Program (HELP)
An additional $5 million has been added to the SF HELP to provide small businesses with up to $50,000 in zero interest loans. The program provides flexible funding to businesses unable to access other types of government loan products. SF businesses who have been financially impacted by the pandemic and have not received a federal Paycheck Protection Program (PPP) loan are encouraged to fill out a loan inquiry form which will be open until 11:59pm on June 18, 2020. Businesses who have submitted a loan inquiry in the first round of SF HELP with Main Street Launch but were not selected for funding will need to resubmit another inquiry form with Mission Economic Development Agency (MEDA). For more information, eligibilities and to submit an inquiry form, visit https://medasf.org/sfhelp/.