The City of Sacramento’s Office of Innovation and Economic Development invites business owners and community leaders who represent Black businesses to a brief informational session prior to the release of the Small Business Recovery Loan Program.
The topic, “Info Session on Small Business Loan Recovery Program,” will be held by Zoom chat at 1:00 p.m., on June 23. The purpose of this meeting is to introduce the program and gather any questions that city officials can answer prior to the Small Business Recovery Program webinar on June 24.
Lynette Hall, the OIED’s Community Engagement Manager is hosting the scheduled Zoom meeting.
“Please share with those in the community,” said Ms. Hall. “This meeting is open to all businesses and organizations that can help ensure we get the word out specifically in the Black community.”
The Small Business Recovery Program will provide up to $25,000 in forgivable loans and technical assistance to businesses located in the City of Sacramento to financially assist local businesses and nonprofits that have been impacted by the COVID-19 pandemic.
The forgivable loan program aims to ensure an equitable distribution throughout the City of Sacramento to assist local businesses and nonprofits that have been affected by the COVID-19 pandemic.
To ensure this happens, the City has set a goal to have at least:
• 75 percent of funds go to economically disadvantaged communities
• 25 percent of the funds go to micro-enterprises, defined as those with fewer than five employees
The application period will be from Monday, June 29 through Monday, July 13. Once the application window closes, applications will be screened using specific criteria followed by a lottery-random draw.
To learn more, visit www.cityofsacramento.org/bizloans.
At this webinar, participants will learn about the loan program, eligibility and criteria for being chosen, and the application process.
For more information about the Zoom meetings, contact Ms. Hall at email@example.com or call (916) 254-3451 cell.
By Antonio R. Harvey | OBSERVER Staff Writer