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Southern California Small Business Grants, Loans, & COVID-19 Resources
The topics below provide Southern California entrepreneurs and business owners with grant and loan information along with resources to navigate through the COVID-19 outbreak.
Check back often or subscribe to our newsletter for updates. We’ll be updating this page as new resource updates for grants, financing, and help become available.
COVID-19 Recovery Loans & Grants
If you don’t find what you are looking for here, sign up for up to date emails regarding time-sensitive grants and current events that impact the California market.
CDC Small Business Finance SBA Microloan Recovery Program
Loan Amount
$10,000 - $50,000 Maximum is $50,000 or 2019 revenue, whichever is less
Interest Rate & Terms
5% fixed rate
60-month term
Learn more at cdcloans.com or talk 800.611.5170
Spanish speaking representatives available throughout the loan process
Requirements
- Business has been impacted by COVID
- Business was solid prior to COVID and is moving towards recovery
- Credit score of at least 640
- Any bankruptcy 3+ years old
- No open liens, judgments collections unless on payment plan for 6 months of on-time repayments
Go to CDCLoans.com and click on the 'Get Started' button at the top right >>
Areas served
California counties:
Alameda, Butte, El Dorado, Fresno, Imperial, Kern, Kings,
Los Angeles, Madera, Merced, Orange, Placer, Riverside,
Sacramento, San Bernardino, San Diego, San Francisco,
San Mateo, Santa Clara, Stanislaus, Ventura
Accessity COVID-19 Relief Loan
Accessity, formerly Accion serving Southern California, opens the doors of financial opportunity for entrepreneurs through access to small business loans from $300 to $100,000 and a community of support and resources in Southern California.
Loan Amount
$2,000 - $50,000
Interest Rate & Terms
First 12 months interest-only; 36 or 60 month total term.
Low, fixed interest rate of 4.25%. Administrative fees waived (State guaranty fee $250 only on loans over $5,500)
No prepayment penalities
Working capital for COVID-19 Recovery Efforts
Talk with Christine Sanchez at accessity.org
Christine Sanchez
Title: Business Development Officer
Phone: 951-206-6299
Email: csanchez@accessity.org
Small Business Grants
Notice: Due to the nature of the emerging and rapidly evolving information from government and non-government relief programs, some requirements and offerings may change before they are listed on this website.
$25,000 Amber Grant for Women
WomensNet founded the “Amber Grant” in 1998. The grant was set up with one goal in mind: to honor the memory of a very special young woman, Amber Wigdahl, who died at just 19 years old — before realizing her business dreams.
Today, WomensNet carries on that tradition, proudly giving away at least $30,000 every month in Amber Grant money. In recognition of the diversity of businesses owned by women, we’ve also expanded our grant-giving to include “Marketing Grants,” “Business Category Grants,” as well as two “$25,000 Year End Grants.”
Applying is simple. Just take a few minutes to tell us about yourself and your business dream. No long, complicated forms to fill out. Submitting one application makes you instantly eligible for all grants related to your business. We announce the grant winners by the 23rd of the following month.
Young Entrepreneur Scholarship Grant
Are you a student? This grant is for you!
You’ve got big ideas, and we want to turn them into a reality. One young scholar with entrepreneurial spirit will receive $2,500 to continue their education.
The 2022 deadlines are September 30th, and December 31st
Requirements
- Must be a high school senior, undergraduate, graduate, or trade school student
- Must attend a U.S.-based high school, trade school or university
- Must hold a GPA of 3.0 or higher
Must have an interest in starting a business
How to Apply
- Complete online application
- Create a short, 2-minute video telling us how entrepreneurship will impact your life
- Submit sample business plan
Fresh Start Business Grant
Are you an aspiring entrepreneur looking to start or grow your business? This grant is for you!
Whether you’re starting over or starting from scratch, Incfile wants to be there to help your business succeed. One adult entrepreneur will receive $2,500 to put toward business startup costs and will also receive free formation services from Incfile.
Recipient Receives
- Incfile's Gold plan for free ($385 value), including incorporation services in your state, free Registered Agent services for a year, and a free tax consultation.
- $2,500 to put towards business startup costs
The 2022 deadlines are September 30th, and December 31st
Requirements
- Must be 21 years or older
- Must be a U.S. resident
- Must be planning to start a new business or grow an existing business in a significant way
How to Apply
- Complete online application
- Create a short, 2-minute video telling us how entrepreneurship will impact your life
- Submit sample business plan
Small Business Readiness for Resiliency Program
The U.S. Chamber of Commerce Foundation and FedEx have teamed up to create the Small Business Readiness for Resiliency (R4R) Program. This program helps small businesses prepare for a disaster and offers immediate relief funding for those prepared businesses when a disaster strikes their region. More than 100 grants of $5,000 each are expected to be distributed between June 2022 and May 2023.
How it Works
This program is designed to encourage preparedness and resiliency. We want to ensure that all small businesses have what they need to deal with the impacts of a disaster in their community.
The R4R program provides resources and incentives for small businesses to take the actions they need to become more resilient, including the distribution of grants following a disaster.
MICROBUSINESS COVID-19 RELIEF GRANT PROGRAM
County of Riverside
Application Portal Open Now!
Applications accepted until funds are exhausted.
The San Bernardino County Microbusiness COVID-19 Relief Grant is designed to assist businesses that have experienced economic barriers due to the effects of the global pandemic. The San Bernardino County Board of Supervisors approved $2,500 to be disbursed to qualified businesses.
Businesses Must Meet the Following Criteria:
- Be located within Riverside County
- Less than five employees
- In operation since 12/31/2019
- Business must be the source of primary income in 2019
- Less than $50,000 in Revenues in 2019
- Haven’t previously received a small business relief grant from the State of California
Eligible Uses of Funds Include:
- Payroll/Employee Retention
- Working Capital
- Purchase of Personal
- Protective Equipment
- Rent or Mortgage Payments
- Paying Vendor Invoices
The intent of the Riverside County Microbusiness COVID-19 Relief Grant Program is to provide relief to the hardest to reach microbusinesses and entrepreneurs located throughout the county.
Applications will be accepted on a first-come, first-served basis for qualifying microbusinesses. Applicants will be notified within 14 business days from point of application submittal as to approval status. Awardees will receive funding once the County of Riverside receives funding from the California Office of the Small Business Advocate which is expected no later than early April 2022.
Small Business Loans
If you don’t find what you are looking for here, sign up for up to date emails regarding time-sensitive grants and current events that impact the California market.
AmPac Business Capital Best Loan Match Option
AmPac provides support for small businesses seeking to scale in the Inland Empire. You can apply through our portal, and they will be able to direct you to the "best fit" loan product.
Finding the best loan is possible for your business.
AmPac will serve your small business from the newly started business to the seasoned small business and anywhere in between. Are you ready to grow and need extra capital? Let AmPac help you make your community better and your family stronger as we champion your ability to make jobs happen within your business.
Apply now to get connected with an AmPac Business Champion >>
LOAN OPTIONS
AmPac Community Lending Program
Businesses with a strong business plan for pivoting in the pandemic, two years of business history, business financial statements that are showing positive trends are great candidates for the AmPac Community Lending Program.
SBA 504 Program
A Real Estate Advantage Loan (also known as a REAL or 504 Loan) is a 10-percent down, fixed-rate, long-term loan designed to expand capital access – filling a market gap in long-term financing for America’s small businesses. Since it is fixed-cost and long-term as well as SBA-backed, the 504 is one of the best financing options available for small business owners today.
Small Business AssociationLender Match
Lender Match is a free online tool that connects small businesses with SBA-approved lenders.
Get matched to potential lenders offering SBA-backed funding.
NPHS The Pivot Microloan
This PIVOT Microloan is not a COVID relief loan or grant. This program is only accepting Southern California businesses that are located in San Bernardino, Riverside, and East Los Angeles County.
The spirit behind PIVOT is to help small businesses adapt and evolve in todays environment. The marketplace may be changed forever, and small business owners have immediately begun to look at options for modifying their business models. Entrepreneurs need to pivot and adapt to ensure their long-term growth and survival. PIVOT provides capital to new and existing small businesses to finance the adjustments they need for their operations to grow and thrive.
Businesses must demonstrate that they have a working business model that will use the loan to “pivot” its business operations to adapt and grow. The PIVOT Microloan offers up to $25,000 with 7-8% APR based upon qualified credit applicants.
There is no information for this section at this time.
The Inclusivity Project
SBDC is connecting 1000 black entrepreneurs and black-owned small businesses in underserved and socially disadvantaged communities with lifetime business mentorship and $100 Million dollars in capital to start their very first business or take their existing business to the next level.
Success takes more than passion. It takes real knowledge and a support system that can adapt with you. We’ll meet you wherever you’re at in your entrepreneurial journey and help give you the mentorship and the access to tools you need to realize your business potential.
Additional Southern California Small Business Resources
Need help figuring out the best way to manage your needs and finances through the coronavirus pandemic? Here is a list of providers to help connect you with assistance and questions you might have.
Sign up for our newsletter to receive up to date emails on impactful resources to help you successfully run your business.
Small Business Administration
The Small Business Administration (SBA) provides small business guidance and loan resources that are or will be available to address the needs of a small business, as well as guidance to planning and growing a great business.
SBA is also available to help you sustain your small business when health crises, hurricanes, and other disasters arise. Get started by checking out their ‘Recovery Hub’. Once there, you can reach out to a local SBA office for counseling and advice.
Inland Empire Women’s Business Center
If you are in need of one on one assistance, you can speak to one of the Women’s Business Center’s counselors. It’s free!
IEWBC hosts and instructs a variety of business development workshops to meet your goals. View our upcoming courses and get US on YOUR calendar.
Small Business Majority Resources
Center for Disease Control Post Pandemic Workplace Guidance and Strategies
The CDC has provided guidelines on how to operate post-pandemic. Here are some ways small business owners can keep their businesses, employees, and customers safe.
To learn more about payment assistance and new programs in development for new clients, visit Accessity’s to gain more information about loans and resources.
TAKE TIME TO PREPARE BEFORE YOU APPLY FOR A BUSINESS LOAN
Great Advice From Our Micro-Lenders
- Be prepared to justify your income and expense projections; be able to show that the income is based on X number of units or services sold over a period of time for each month, i.e. you are open 300 hours a month and expect to sell an average of 20 units every hour with an average price of $10.00. What are the costs based on? Include details such as hours of opening, cost of raw materials, rate of pay?
- If you are a new business, expect to show you have funds to contribute to the project and support your personal income needs.
- Check your personal credit score, use an online service to be sure there are no surprises. Pay down revolving debt to 30% or below the maximum allowed to maximize our credit score presentation.
- Have your accountant look over your internal bookkeeping to be sure it is correct.
– Stacey Sanchez, Senior Community Loan Officer for CDC Small Business Finance
- Monitor your personal credit by paying bills on time, not having more than 3 inquiries in 6 months, and keeping credit card utilization at 30% or below. Lenders require a personal guaranty and your personal credit is important to be eligible for a loan.
- Save money before your start your business so you can show you have capital to invest if needed. Lenders don’t like to take 100% of the risk, they want to know you have “skin in the game.” Carry a cash reserve so you can use your money to get more money.
- Keep good records for your business transactions using an accounting software like QuickBooks so you can print a Balance Sheet and Income Statement when you need it. Also, understanding what happened earlier, can help you forecast for the future and prepare for it. If you foresee that you will need funds during the holiday season, you can start the process now and not when your funds are depleted.
- If you are a startup, draft a business plan to include a description of the business, your experience & knowledge of the industry, a detail of the business capital needs, a marketing plan, and the financial projections. Some lenders require a business plan for young businesses as well.
- File your taxes timely, most lenders will ask for 2 most recent tax returns (personal and business) and might reject your application if you have not filed them.
Don’t be discouraged by the process, especially if it’s the first time you’ve tried for a business loan. The micro-lenders can put you in touch with business counselors to help you determine what type of loan is best for you, when is the best time to borrow, and how much. Using business capital effectively to grow your business is an important step to success.
At some point you’ll seek a business loan, to take on a new contract, hire employees, or finance an expansion to a new location. Whatever you do, be on the lookout for bad lenders. Online predators make huge profits from unwary borrowers anxious to get started with their business and reluctant to take the right steps to get a good loan.
Trust worthy lenders will need to see you have a good history of repaying your loans (credit score) and reporting your income (tax returns.)
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