Grant & Loan Opportunities

County of Ventura Launches Second Small Business Assistance Grant Program

The County of Ventura has launched a second COVID-19 Business Assistance Grant Program for businesses and nonprofit organizations that did not receive a grant during the County’s first program in 2020. A $5,000 grant will be awarded to selected organizations that meet the eligibility requirements.

Important Dates

• Pre-Registration window: March 24-March 30, 2021

• During this period, businesses can log in, create their account and upload documents via the registration portal at www.VCBusinessGrants.org.
• Businesses are strongly encouraged to gather their supporting documentation now and have it ready to upload when the pre-registration period opens.

• Application window: March 31, 2021 from 8:00 a.m. to April 6 at 6:00 p.m.
• 1st Grant Awards Issued: April 30, 2021 (for those that meet priority eligibility)
• 2nd Grant Awards Issued: May 31, 2021 (all other eligible applicants)

Eligibility Criteria

• Must be negatively impacted by COVID-19.
• Did NOT receive a $5,000 award in the previous County of Ventura COVID-19 Business Assistance Grant program of 2020.
• Have a physical address and operate in Ventura County.
• Established business and opened prior to 2021.
• Annual gross revenue between $25,000 and $2.5 million.
• Currently operating or have a plan to re-open once the health orders allow.
• Business or nonprofit organizations with multiple entities, franchises, locations, etc., may not submit multiple applications. The organization may submit a single application for the location with the highest annual gross revenue.
• Business or nonprofit may submit only one application, regardless of the number of owners of the business.
• Must be registered at www.VCReopens.com and have a history of compliance with COVID-19 safety protocols.
• The nonprofit organization must be a 501(c)(3), 501(c)(6), or 501(c)(19). Churches and other faith-based institutions may apply.
• The organization must attest that it is not an ineligible organization type and acknowledge that applicant information is subject to the Public Records Act.
• Must have a business license with the appropriate jurisdiction within Ventura County (if applicable).
  • For the City of Ventura Business Tax Office, click HERE or call (805) 658-4715.

 Required Documentation

• Government-issued photo ID of the business owner or nonprofit authorized agent.
• Tax returns and attachments filed in 2019 OR 2020. Nonprofits must submit a Form 990. If the business is exempt from filing any tax returns, a Profit and Loss statement will be required.
• Proof of physical address within Ventura County (Select ONE from list of acceptable documents: Business License, Fictitious Name Statement, Certificate of Organization, Articles of Incorporation, Utility Bill in the name of business dated in 2020).
• IRS W-9 form signed and dated.
• Non-profit organizations - IRS Non-Profit Determination Letter

COVID Business Assistance Grant Webinars

Click on a date below to register:

• March 25, 11:30 a.m.
• March 26, 11:30 a.m. (Español)
• March 31, 5:30 p.m.
• April 1, 5:30 p.m. (Español)

Additional Grant Information

• Frequently Asked Questions (FAQ) - Click HERE.
• Call Center Assistance: (888) 405-1004 (Call Center hours will be posted prior to the Pre-registration and Application periods).
• For additional information on priority factors, ineligible organizations, eligible/ineligible use of funds, and document definitions, please visit the grant website at www.VCBusinessGrants.org.
• To sign up for County updates, click HERE.

Shuttered Venue Operator Grant

The Shuttered Venue Operator Grant, administered by the SBA’s Office of Disaster Assistance, offers grants for live venue operators, performing arts organizations, motion picture theater operators, cultural institutions and other eligible applicants. SVOG funding does not need to be repaid and can be used for specific expenses, such as payroll, rent, utilities and other costs. The SBA will begin accepting applications on April 8, 2021. 

To access the application portal click here. Please review the SBA’s extensive Frequently Asked Questions document here.

Restaurant Revitalization Fund (RRF)

The new American Rescue Plan Act established a $28.6 billion “Restaurant Revitalization Fund” (RRF) within the U.S. Small Business Administration (SBA). An eligible business may receive a tax-free federal grant equal to the amount of its pandemic-related revenue loss, calculated by subtracting its 2020 gross receipts from its 2019 gross receipts. 

The Restaurant Revitalization Fund is NOT yet accepting applications. For more information on the Restaurant Revitalization Fund review the Fund Fact Sheet click here.

PPP, EIDL & Expanded Unemployment Benefit Information 

• Business owners of a single member LLC with no employees
• Freelancers
• Independent Contractors
• Gig Economy Workers
• Self-Employed Workers
• Single-person companies with no employees

• Communicate with your current lender to determine if they are offering PPP loans during round 2.
• If your lender is not accepting applications, Montecito Bank & Trust is currently accepting applications from businesses based in Santa Barbara or Ventura counties for both First and Second Draw loans. As the largest community bank on the Central Coast with assets over $1.9 billion, MB&T is proud to participate and secure as much funding for Central Coast businesses as possible through this most recent stimulus package. Visit MB&T's website for more information CLICK HERE

THE AMERICAN RESCUE PLAN AND SMALL BUSINESS RELIEF

 Congress has approved a new $1.9 trillion federal relief package, more commonly known as the American Rescue Plan. The stimulus legislation, the largest of its kind, includes several measures to help stabilize small businesses and the economy.

The details of these programs are still being determined. More information will be shared as it becomes available.

Some of the key provisions that will aid struggling small businesses are:

• An additional $7.25 billion in funding for the Paycheck Protection Program (PPP). The program will also expand its eligibility for non-profits and digital journalism entities to apply.

• The PPP still has about $119 billion left in funds from the previous relief package.

• An additional $15 billion will go toward the Targeted Economic Injury Disaster Loan (EIDL) Advance program, which provides grants for small businesses in low-income areas.
• The Restaurant Revitalization Fund, a new grants program, will provide $25 billion in relief funding for small restaurants. 

• Grants are available for up to $10 million per entity, with a limit of $5 million per physical location. Entities are limited to 20 locations.
• Grants may be used for a wide variety of expenses, including payroll, mortgage, rent, utilities, supplies, food and beverage expenses, paid sick leave, and operational expenses.

• The American Rescue Plan Act will also establish another program called the Community Navigator Pilot Program, which is set to increase awareness of and participation in COVID-19 relief programs. The program will set aside $100 million in grants for entities that support its goal.
• An additional $1.25 billion will be set aside for the Small Business Administration’s Shuttered Venue Operators Grant.
• $10 billion will go toward the State Small Business Credit Initiative (SSBCI), which will help to fund and strengthen small business financing programs in the states.

Some of the provisions that are not small-business specific include:

• $300 unemployment payments through September 6. 
• For stimulus payments, individuals who make up to $75,000 and couples who make up to $150,000 get a full $1,400 check.

• Those making $80,000 for individuals and $160,000 for couples, will receive a partial check. 
• A $3,000 child tax credit for families with children. For each child under the age of 6, families can receive a credit of up to $3,600.

• There are also a few new provisions that would strengthen access to healthcare for small business owners:

• Affordable Care Act (ACA) enrollees will pay no more than 8.5% (versus 10% before) of their income on health insurance premiums.
• Expands the subsidies available for people earning more than 400% of the Federal Poverty level.
• Strengthening Medicaid and expanding support for COBRA coverage for those who have been impacted by the pandemic.

PLEASE CALL IF YOU NEED ASSISTANCE

The EDC SBDC call team and experienced advisors are available to answer questions and help you navigate today's complex business environment. The Economic Development Collaborative hosts the Small Business Development Center and is funded in part through a cooperative agreement with the U.S. Small Business Administration. Signing up as a client takes just a few minutes and provides you lifetime access to all of our no-cost services.  

Get started today with our no-cost consulting by calling 

805.409.9159 (ENGLISH) or 805.309.5874 (SPANISH).



Access our Loan Program by calling 805.409.9497.