Small businesses have been especially hit hard during the coronavirus pandemic. On June 2, the Riverside County Board of Supervisors approved $45 million as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act grant funding to aid small businesses enduring hardships due to the coronavirus pandemic.
Monitoring the landscape of the impacts to small businesses, the department made a series of recommendations to adjust the program eligibility requirements, each time expanding the grant program to more businesses in need of assistance.
On October 6, the board authorized an additional $5 million in CARES funding to create a $50 million direct assistance program which provided needed grant funding to 5,000 small businesses.
The third round and final application period concluded on November 13. More than 4,450 small businesses have received grants to date, according to county officials.
The final processing of applications is now in process to finalize the funding of 5,000 small businesses in Riverside County.
