Coronavirus Relief Grants Available For Newport Beach Businesses

NEWPORT BEACH, CA — Newport Beach has more money to give to qualified small business during the coronavirus pandemic, the city reports. Business owners can apply for a second round of COVID-19 relief grants. Applications will be accepted between August 14 at 9 a.m. and August 28 at 5 p.m.

Earlier this summer, the City awarded $2.1 million in small business grants with federal money from the CARES Act received by the County of Orange and distributed to Newport Beach for small business grants. The latest round of funding, about $470,000, is from the City’s allocation of federal Community Development Block Grants (CDBG) as well as CARES Act funds received
through the U.S. Department of Housing and Urban Development (HUD).

As before, the Orange County Small Business Development Center will administer the grants.

Applicants are encouraged to participate in one of two informational webinars on the grant program being offered on Tuesday, August 11, 2020, at 11 a.m., and Thursday, August 13, 2020, at 4 p.m.

To be eligible to apply for the grants, a business will need to demonstrate the need for financial support that is directly related to the COVID-19 pandemic (for example, being forced to shut down and/or had to lay off employees). Under CDBG requirements, the business must also meet certain low-income criteria for the owner or employees.

• The business must be a for-profit business, independently owned and operated, with the principal office located within Newport Beach city limits.

• The business must be legal and located in a commercial or industrial space.
• The officers of the business must reside in Orange County, California.
• The business must have an active Newport Beach business license for at least 6 months.
• The business can have no more than 30 full-time employees, or an equivalent combination of full- and part-time employees, including the owner.

In addition, the business applicant must meet the following CDBG eligibility requirements:

• The business owner’s current household income is at or below 80% of the Orange County median income, adjusted for household size;

or:

• The business intends to retain at least one full-time equivalent, permanent low- and moderate-income job, of which 51% of its employees are low- and moderate-income, full-time or equivalent employees.

Grant applications will be available on August 14, 2020 at 9 a.m.
For more information: www.newportbeachca.gov