Economic Recovery Assistance: OC Allocates $10 Million for Small Businesses
Friday, December 18, 2020
Small businesses in Orange County will soon be able to tap into a $10 million economic recovery program.
During its Dec. 15 Board meeting, the Orange County Board of Supervisors unanimously supported Vice Chairman Andrew Do’s $10 million small business economic support program to provide immediate relief to local businesses who have been adversely affected by the pandemic.
“We are nine months into the pandemic and small business owners don’t know how much longer they can remain open,” said Vice Chairman Do.
Vice Chairman Do’s directive calls for the allocation of $10 million from County reserves for economic support initiatives for small businesses, split equally between the five supervisorial districts. Each Supervisor will allocate their district’s share of the funds to help meet the economic needs of small businesses.
These funds are in addition to the $75 million CARES ACT Small Business program that was approved by the Board back in June.
“It is imperative that we help bring real and meaningful assistance to help keep our small businesses open,” said Vice Chairman Do.
Each supervisorial district will announce its business grant program in the following days.
Category: Economic News, COVID-19 , Small Business Relief