More than 400 people on Wednesday tuned in to an online webinar to learn about the City of Sacramento’s new forgivable loan program available to small businesses and nonprofits.
Office of Innovation and Economic Development staff provided an overall CARES Act funding update, an overview of the previous loan program and went into detail on the new “Small Business Recovery Program” which provides up to $25,000 in forgivable loans and technical assistance to business and nonprofits located in the city of Sacramento.
“We saw a huge demand for financial assistance when the City launched its $1 million small business loan program in mid-March and we knew this time wouldn’t be different,” said Community Engagement Manger Lynette Hall. “That’s why we made sure to provide adequate time for targeted outreach with local businesses, community-based organizations, business-district groups and chambers of commerce.”
The City will be conducting similar webinars in various languages to ensure that residents have time to learn about the Small Business Recovery Program and ask question before they apply. This includes a webinar in Spanish at 3:30 p.m. June 25 and one in Vietnamese on 2 p.m. June 26. Those interested can register here.
The team previously hosted a webinar for community leaders who represented Black businesses on June 23, Hall said.
Applications for the program will be accepted June 29 through July 13.
Find full program details, eligibility and criteria here. Applications will go live Monday, June 20 at www.cityofsacramento.org/bizloans
If you missed Wednesday’s webinar, you can watch it below:
The Office of Innovation and Economic Development hosts weekly webinars to support local businesses as they navigate the COVID-19 outbreak and its economic repercussions. Stay up to date with webinars by signing up for emails here.
Need more help? Call the Small Business Hotline at (916) 808-7196 or smallbusiness@cityofsacramento.org.