Struggling small businesses impacted by COVID-19 are encouraged to apply for the City’s new $1 million COVID-19 Small Business Financial Aid Program.
The City Council officially approved the program at their last meeting on Jan. 28.
Qualifying businesses will be provided with a zero percent $10,000 loan that will be forgiven if the business stays open for at least six months.
Businesses must meet the following criteria in order to be considered:
- Must be independently owned
- Must demonstrate hardship due to COVID-19
- Must not have more than 25 full-time employees
- Must have a business license in Palm Springs as of May 1, 2020
- Must be in good standing with the City of Palm Springs and complied with all COVID restrictions
Priority will be provided to small businesses that have been closed the longest and that have one to five full-time employees.
Financial assistance will NOT be on a first come, first served basis.
Businesses with six to 25 employees will be reviewed on the basis of what type of business they operate and whether they have received other financial aid assistance.
For more information and to download the application in English or Spanish, visit http://www.palmspringsca.gov/covidbizhelp.
