The Riverside County Microbusiness Covid-19 Relief Grant Program (MCG) is an initiative for small business owners hardest hit by the loss of business caused by the COVID-19 pandemic.
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Micro Grants of up to $2,500
The program allows micro-businesses to receive a grant of up to $2,500. The grant funds are not meant to be used as a replacement or supplement to other unsecured loans or credit lines. Additionally, the grant funds are not intended to replace or supplement any other federal, state, local or private funding programs.
MCG funding is limited and will be given out on a first-come, first-served basis until the funding has been exhausted.
On Monday, February 14, at 8 a.m., the Riverside County Microbusiness Covid-19 Relief Grant Program application was opened online. Applicants will be informed about their approval status within 14 business days of submitting their application. The awardees will be paid once the County of Riverside gets cash from the California Office of the Small Business Advocate. It is expected in early April 2022.
The following eligibility criteria were given for businesses who were applying for the grant program:
- Business must have been open and operating before December 31, 2019.
- Business must be located in Riverside County.
- Businesses must have less than five employees.
- Businesses must be in good condition with all required tax registrations and filings.
- In 2019, a business must be the principal source of income.
- Revenues of less than $50,000 in 2019.
- Businesses have not previously received a state of California small business relief award.
Moreover, applicants must certify that the business has experienced losses due to COVID-19. The applicant must also certify that the business has paid all federal, state, and local taxes.
Businesses receiving federal Paycheck Protection Program (PPP) funding are eligible to apply, provided they have used these funds as intended and have not filed for forgiveness. While all industries are eligible, preference will be given to businesses that can demonstrate an inability to obtain credit elsewhere.
For more information, head over to https://rivcoed.org/microbusiness-covid19-relief-grant-program.