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Apr 27

SMC Strong Fund accepting small business grant applications

Posted on April 27, 2020 at 9:47 pm by Clay Curtin

California’s stay-at-home order has been essential in slowing the spread of COVID-19, and has unfortunately, impacted many small businesses forcing a reduction in staff and business hours, or even business closures, in response to the low service demands.

San Mateo County, in partnership with the Silicon Valley Community Foundation and San Mateo County Economic Development Association, has created the San Mateo County Strong Fund – Small Business Grant Program to help offset the economic consequences of the COVID-19 and California’s stay-at-home order. 

The San Mateo County Strong Fund is accepting applications for its grant program. This program will offer up to $10,000 grants for small businesses that can be used for payroll, operations, or other costs associated with COVID-19 impacts. Businesses must meet the following criteria to qualify:
  • Be a for-profit company with at least two employees
  • Have a current business license
  • Have an office, storefront or business space that is open to the public
  • Have 10 or fewer employees as of 2/15/20 OR less than $2.5 million in annual gross revenue over the past year
  • Have been open for at least a year
  • Demonstrate a 25 percent (25%) reduction in gross revenue due to COVID-19
The SMC Strong Fund will be partnering with the San Mateo Credit Union to distribute the funds but applicants do not need to have a previous business relationship with SMCU to apply. In order to be prepared to apply as soon as the application period opens, it is highly recommended that potential applicants gather the following documents ahead of time:
  • Valid business license
  • Bank statements
  • Current profit and loss statements
  • IRS or Franchise Tax Board tax returns
  • Proof of rent or mortgage, utility, health care premiums or payroll processing document
Applications will only be accepted online at SMC Strong. For further information, please visit the frequently asked questions or call 211.

SMCStrong small business