CA Relief Grant Program Updates | PPP Round 2 Updates

In this Must Know… 

CA Relief Grant Program – Round 1 Ends

#CAReliefGrant

The first round of applications for the California Small Business COVID-19 Relief Grant Program officially closed yesterday. They are working with a few lingering applicants. Applicants who are selected to receive a grant will be notified between January 15 and January 22, 2021. Check spam folder! Be patient, dispersal of funds will start on January 22 and continue over a 45-day period.

Those applicants that are not awarded a grant in this round will be moved to Round 2, which opens at 8:00am on February 2, 2021 and goes until 6:00pm on February 8, 2021.

We are holding a Train-the-Trainer webinar on January 21, 2021 at 10:00am PST for those members that didn’t participate in this first round or want more training and knowledge on how to best prepare your clients (note: this training is for business coaching staff, not business owners).


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Paycheck Protection Program

SBA will reopen the Paycheck Protection Program to small lenders tomorrow and to all lenders on Tuesday, January 19.

Yesterday, we held a Listening Session where we dove into this new round of PPP and how it differs from the first round. You can watch the recording here, and check out our COVID-19 Resources page for the latest updates from SBA and Treasury.


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ICYMI: FY2020-21 Federal Budget

The $900 billion FY2021 Omnibus Appropriations bill that passed last month includes $12 billion in emergency COVID-19 relief programs for CDFIs. CAMEO’s FY2021 funding requests were met for several programs. Some highlights:

  • Microloan Program for Technical Assistance (SBA) – $35 million
  • WBCs (SBA) – $23 million
  • SBDCs (SBA) – $136 million
  • Veterans Business Outreach Centers (SBA) – $14 million
  • Rural Microentrepreneur Assistance Program (USDA) – $6 million

The Goodies

For Your Clients

New Research

Professional Opportunities

  • Join Boston Private’s webinar “Covid-19 Legal Update: All About Employment Law” on February 11, 2021 at 10:00am PST. To RSVP, email Hayana Guerrero.
  • OFN’s Finance Justice Fund will support CDFIs that serve communities experiencing disproportionately high rates of poverty and disinvestment.

Other Goodies