Cathedral City offering up to $20,000 in financial assistance to small businesses
Cathedral City has approximately $450,000 available for the city's businesses.
Cathedral City businesses may qualify for financial assistance if they have been:
- Impacted by COVID-19
- Maintain a physical presence within Cathedral City
- Have less than 25 full-time equivalent employees.
City officials noted that priority will be given to restaurants, retail store and personal care businesses.
"The coronavirus has had a devastating impact on our small businesses," stated Mayor Raymond Gregory. "These funds are geared to assist hair salons, barber shops, small gyms, restaurants, and other small mom and pop businesses that have suffered the most economically."
Eligible Cathedral City businesses may choose one of two assistance programs.
- A micro-enterprise grant
- A micro-enterprise is a business with five or fewer employees, including the owner.
- If selected, a micro-enterprise may be reimbursed up to $7,500 for eligible expenses.
- A physical-improvement focused forgivable loan
- Forgivable Loans are for businesses with less than 25 or fewer full-time equivalent employees looking to make short-term or permanent improvements so their business may operate in compliance with the State of California's COVID-19 guidelines.
- Improvements may be indoors or outdoors.
- For qualified expenses, businesses may apply for up to $20,000.00 of reimbursement.
- To be eligible for forgiveness, the business must propose allowable reimbursements, comply with City's quarterly reporting requirements, and meet all HUD requirements.
- More information is available on the application portal at http://www.ccedd.org/economic-relief
The city encourages small businesses to apply right away as funds are limited.
For more information about this program, contact the Small Business Assistance Program team at covidrelief@cathedralcity.gov.
