I have been recently inundated with calls regarding business and commercial real estate relief programs, which are starting to build momentum and are becoming more available for small businesses who deserve the financial aid during this pandemic. This week, Mayor London N. Breed today announced a new plan to provide immediate financial relief for small businesses struggling as a result of COVID-19. The $62 million plan will provide a combination of grants and very low to zero-interest loans, which will complement and expand existing local, state, and federal initiatives.
SF Investment Loans: This planned loan program is aimed at supporting businesses by providing working capital, especially to those left out of existing relief programs. This will include businesses that normally generate more than $2.5 million in annual revenue, including many restaurants.
San Francisco Relief Grants: The proposed grant program will provide immediate relief to help stabilize small business operations by offering grants of $5,000 to $20,000, based on the number of employees that each employer had in February 2020.
SF Community Investment Loans: This planned loan program is aimed at supporting businesses by providing working capital, especially to those left out of existing relief programs.