Financial Pitfalls During the Pandemic Help and Resources Provided to Small Business Owners – Business Success Tips
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Business Sources in California: Element two
Together with companies from roofing businesses to community eateries to suppliers like bookstores feeling that the devastation of the pandemic’s economic effect, Santa Clara County is offering a brand new flat-rate advance program.
Founded by county managers Joe Simitian and also Susan Ellenberg, this financial assistance for small business owners supplies loans up to $100,000 for licensed companies, together with either three – or five-year term options plus a more 4.25% interest rate. In order to be eligible for these loans, a business enterprise must have greater than 50 fulltime employees, at a 25% reduction in revenues in contrast to an earlier one-year period, and also revenues of below $2.5 million in 20-19.
Claims Simitian,”These funds are all available now and so are comparatively simple to turn in an application for. I know folks are still hurting, and these budgets really are a step in the proper direction”
Financial help for small business owners in Santa Clara county can be obtained through a partnership using nation thing California re-building Fund and public sector funds to group Development Financial Institutions. “We want all of the nation and federal help we can get, however, by employing these regional dollars as properly we will make sure regional companies as well as their personnel earn their approach to the cap of the checklist,” Simitian stated.
CEO of the non profit Accion option Fund, Luz Urrutia, notes which this program will be especially valuable for minority and also immigrant-owned companies, who says”have been left behind by federal relief efforts”
Claims Urrutia of financial Aid for small business owners,”Small companies have been the driving force behind every econom. qd1k3euuwb.