Written by Nicholas Vetrisek
Mayor Kevin Faulconer recently said that there have been more than $300,000 in private donations to the San Diego Small Business Relief Fund. He announced this in order to launch a new partnership that allows the community to make donations to the fund, no matter how much.
During the announcement, Faulconer said, “Small businesses are the backbone of our local economy, and these businesses need our support more than ever.” Qualcomm, Cal Coast Credit Union, and GoFundMe each contributed $100,000 to the new initiative between the City, San Diego Grantmakers, and Cal Coast Cares Foundation, which encourages corporations and individual citizens to contribute to the Relief Fund.
“Cal Coast is honored to partner with the City of San Diego to help local small businesses that are struggling with the fallout from the pandemic,” said President & CEO of California Coast Credit Union Todd Lane.
The fund was created at Mayor Faulconer’s request in order to provide grants and loans to businesses affected by the coronavirus.
“With the help of generous corporate partners and San Diegans alike, we are expanding our Small Business Relief Fund to keep more businesses afloat during these turbulent times,” Faulconer explained.
Over 9,000 businesses submitted for relief and this money is meant to supplement the $6 million already given by the city.
“In times like these, philanthropic efforts lift up the generosity of our region,” said San Diego Grantmakers President and CEO Debbie McKeon.
As a result of the joint effort, the city can now expand aid to more businesses that were previously not covered by the initial program due to strict requirements at the federal and state level. This new program will keep the previous eligibility criteria with several new options to allow relief for entrepreneurs and sole proprietors without employees.
Aid for the new program will range from $1,000 to $10,000, and will be distributed to eligible small businesses based on the availability of funds and program guidelines.
To be eligible, businesses must meet the following requirements:
- Employ less than 100 full-time equivalent employees or independent contractors
- Have a City of San Diego Business Tax Certificate
- Provide documentation that shows the business has been operational for at least six months
- Provide proof of economic hardship due to COVID-19
- Not have engaged in any illegal activity per local, state, or federal regulations
If you are interested in joining the California Health Corps, visit SanDiego.gov/coronavirus.
