Notice of Intent. Small Business Economic Relief Program

Notice of Intent

Due to the economic burden on our small business community, the City has developed the Small Business Economic Relief Program to assist small business with qualifying modifications and/or improvements to their current operations that help prevent the spread of the Coronavirus (COVID-19). Funds will be provided on a first-come, first-serve basis to eligible businesses employing up to 25 full-time employees (or equivalent) in the form of grants up to $20,000. Applications will be administered through the City’s Economic Development Department. The City will begin accepting applications for the funding on November 2, 2020. The application period will close once all funds have been allocated. The City is proposing to allocate the additional CARES Act apportionment to a Small Business Economic Relief Program aimed to assist local businesses in Cathedral City prepare for, prevent, and/or respond to the Coronavirus pandemic (COVID-19). Eligible activities for CARES Act funding are described in the following: Assistance to private, for-profit entities, and independently owned, when appropriate to carry out an economic development project: 1) Provide grants to support new businesses or business expansion to create jobs and manufacture medical supplies necessary to respond to infectious disease. 2} Avoid job loss caused by business closures related to social distancing by providing short-term working capital assistance to small businesses to enable retention of jobs held by low- and moderate-income persons. Assistance to microenterprises: 1) Provide grants to establish, stabilize, and expand microenterprises that provide medical, food delivery, cleaning, and other services to support home health and quarantine. Applications will to be reviewed by City Staff on an ongoing basis until all funds are allocated. Funding decisions will be made within 30 days of receiving a complete application. If the City determines that additional information or supporting documents are needed to review an application, then the application will not be deemed complete and will remain on hold until all requested information is provided. Funding may be released within two weeks of approval (pending approval of third-party fiscal intermediary).