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San Diego expands Small Business Relief Fund

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Posted at 8:22 AM, Apr 14, 2020
and last updated 2020-04-14 21:27:07-04

SAN DIEGO (CNS) -- More than $300,000 in donations will enable San Diego to expand its Small Business Relief Fund aiding firms struggling amid the COVID-19 pandemic, Mayor Kevin Faulconer announced Monday.

GoFundMe, Qualcomm and Cal Coast Credit Union have contributed $100,000 each in a bid to encourage others to donate to the relief fund, aimed at helping local small businesses retain employees and stay afloat, Faulconer said.

The San Diego-based local brand management firm Chatmeter has donated $1,000, while the scooter management company Sweep pledged to contribute $500 per month for a year.

The Small Business Relief Fund was started with $6.1 million and has drawn more than 9,000 applicants for grants and micro-loans, a demand that has far exceeded the available funds. Financial assistance range from $1,000 to $10,000, according to a city news release.

Sean Harris of Serpentine Cider applied for the loan. "You wait and see, hope that you did everything right," he said.

Qualifying businesses can apply by 11:59 p.m. Tuesday at www.sandiego.gov/SBRF

To be eligible, businesses must be located within San Diego, have a valid San Diego business tax certificate, less than 100 employees, documentation showing the business has been operational for at least six months and an ability to demonstrate economic hardship due to the coronavirus outbreak.