Riverside County (RivCO) Small Business Thrive Program to Provide Technical and Financial Assistance

By: Sharjeel Sohaib

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Dec 27, 2022

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  • The RivCo Small Business Thrive Program grant is open to qualified people and companies that satisfy all eligibility requirements.

Thrive Program By Riverside

The Thrive Program is a part of Riverside County’s Small Business Program. The Riverside County Office of Economic Development and the Orange County Inland Empire Small Business Development (OCIE SBDC) network are collaborating to offer technical and financial assistance to county residents. Both organizations support entrepreneurs and struggling businesses to cope with the pandemic’s economic fallout.

A business must fulfill the requirements listed below to qualify for this grant,ย 

  • Finish a small business training program
  • Receive one-on-one consulting from the Orange County Inland Empire Small Business Development Center (OCIE SBDC)
  • Participate in a financial literacy webinar offered by AmPac Business Capital.

Rob Moran Appreciates the Partnership

The Deputy Director at Riverside County Office of Economic Development appreciated the partnership and commented that:

Hilda Kennedyย Thanks Hilda! Very excited to partner with the SBDC and you and your team at AmPac to bring this program to Riverside County’s business community.

Rob Moran | Deputy Director at Riverside County Office of Economic Development

What are the eligibility criteria for the program?

The general eligibility criteria are as under:

  • The place of business must be in Riverside County.
  • For Startup firms, the business registration must have occurred on or after July 1, 2022.
  • OCIE SBDC training courses must be finished and certified by the County of Riverside.
  • A one-on-one consultation with an OCIE SBDC Consultant is required.
  • To start a business in Riverside, startups must obtain the necessary licenses and permits.
  • Finish the RivCo Small Business Thrive Program.

Eligibility Guidelines for Startups

  • A “qualifying event” that kickstarts the firm is required for startups.
  • Businesses in Riverside County must be officially registered.
  • While companies can begin the program without registering, AmPac must first see proof of registration before referring them for financial literacy training and a grant.
  • A business’s registration must have occurred on or after July 1, 2022.

Eligibility Guidelines for Existing Businesses

  • For existing businesses, the minimum need is 5 FTE employees and annual revenue of $1 million or less.
  • All applicable laws, rules, ordinances, and licensing requirements must be complied with for operating enterprises.
  • Must go to an AmPac “Financial Literacy” webinar. (Having finished the training course and started one-on-one consulting).
  • They are obtaining and finishing the grant application.
  • You must consent to complete the necessary questionnaires.
  • Must not be a member of the immediate family of an OCIE SBDC Network consultant or staff member, either currently or within the past 18 months.
  • Must not previously receive funding from the California Dream Fund or another comparable program; each entity and individual is only permitted to receive one grant.
  • The applicant has to attest under oath that they will use the money for approved purposes.

Entreprenuers to Get Training Assitance

The OCIE (Organce County Inland Empire) SBDC Network is available to help you prepare for an exciting business launch. Depending on the kind of business you are aiming to start or build, you can choose from among the array of programs, either an industry-specific curriculum or a general business program. Business planning, finances, marketing, sales, human resources, licenses and permits, and other issues are covered in SBDC programs.ย 

The OCIE will help you get from having an idea to making a sale at one of their proof-of-concept platforms, such as their e-commerce site californiashopsmall.com, selling in a neighborhood market, or transporting your packed goods to a retail location, in less than 12 weeks. 

All programs are available at no cost to new and current firms in Riverside County and range from 8 to 12 weeks. You will also get assistance from SBDC consultants and specialists.

Need to be eligible for the grant? Your company can still benefit from the OCIE SBDC. They let you schedule a one-on-one consultation with one of their business advisors.

Wrap Up!

Together, the Orange County Inland Empire Small Business Development and the Riverside County Office of Economic Development are providing financial and technical support. They created the Thrive Program. 

The RivCo Small Company Thrive Program (Thrive Program) provides grants of $1,500, $2,500, and $5,000 to county residents who wish to launch new small businesses or grow existing ones. 

Together, the Orange County Inland Empire Small Business Development and the Riverside County Office of Economic Development are providing financial and technical support.

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