Gov. Gavin Newsom last week announced that the state is offering $500 million in relief grants and tax credits for small businesses that have been directly affected by the COVID-19 pandemic.
Small businesses can apply for as much as $25,000 each, and the funding would be distributed throughout the state by early 2021. Nonprofits are also eligible for these grants.
State officials said that small businesses create two-thirds of Californiaâs new jobs and employ nearly half of all private sector employees.
Small businesses can currently apply for a three-month, income tax payment extension for taxpayers filing less than $1 million in sales taxes.