BAKERSFIELD, Calif. (KGET) — The city of Bakersfield will soon launch a new grant program to help local small businesses during the COVID-19 pandemic.
The city said it is partnering with Access Plus Capital to make financial support available to microenterprises within the city. The Microenterprise ReSTART Grant Program will provide $70,000 in grants ranging from $3,500 to $5,000 to qualified microenterprises, which are defined as businesses having five or fewer full-time employees.
The new grant program is being paid for through Community Development Block Grant Coronavirus funds, according to the city. Access Plus Capital will administer the program on behalf of the city.
The grants can be used for working capital, including paying payroll costs such as employee vacation, family or sick leave, as well as insurance, rent, supplies or materials, utilities, and more.
The city said these grants will target businesses that have not previously received disaster relief funding through the Paycheck Protection Program, a Small Business Association Economic Injury Disaster Relief Loan or a grant from the city’s B-CARES program.
Online applications for the ReSTART program will be available at 8 a.m. on Wednesday. Grants are expected to be awarded to approved businesses by March 19, according to the city.
Businesses interested in applying should visit accesspluscapital.com and click on “COVID-19 Relief Funds” to apply.