Supervisor Fletcher to Distribute $3.4M of CARES ACT funds to Businesses Equitably
Supervisor Nathan Fletcher will distribute $3.4 million of CARES Act Funds to businesses disproportionately underfunded or left out from securing traditional state and federal government COVID-19 relief; combined Supervisor Fletcher has made more than $46 million in funds and services has been made available to owners of small businesses, nonprofits and their employees during the pandemic.
“Our office has been deliberate in its efforts to help those with the greatest need during this pandemic, and the way we distribute this $3.4 million is a continuation of the commitment we made in distributing the other $43 million to businesses owners and workers,” said Supervisor Fletcher, Co-Chair of the County’s COVID-19 Subcommittee.
On May 19, the Board of Supervisors approved a $34 million economic and humanitarian stimulus package for COVID-19 proposed by Supervisors Fletcher and Dianne Jacob. Within that package was $17 million to support small businesses impacted by the pandemic. The County’s Chief Administrative Officer divided those funds evenly between the five supervisorial districts -- giving each Supervisor $3.4 million to distribute to businesses in their districts as they deem it appropriate.
The funds announced on July 7 are the latest in a series of efforts launched by Supervisor Fletcher and partners that have yielded more than $46 million in funding and services being made available to owners of small businesses, nonprofits and their employees during the coronavirus pandemic.
The others are:
- $17 million raised for San Diego COVID-19 Community Response Fund administered by The San Diego Foundation in collaboration to assist people struggling with food security, other essential living expenses, emergent needs, and rent and utility payments during the Coronavirus Pandemic. It is unique because it is the second largest public private COVID-19 fund in the Nation, second only to Chicago. Learn more at sdfoundation.org/COVID19
- Secured $10 million for Frontline Worker Childcare
Vouchers during the pandemic. The County gave $5 million of its
CARES Acts funding and the City of San Diego agreed to match with
another $5 million.
Secured $1 million to support YMCA Summer Camp operations and scholarships so children from low-income homes can have a place to go as parents get back to work.
- The San Diego County COVID-19 Small Business & Nonprofit Loan Program was launched by Supervisor Fletcher in collaboration with The San Diego Foundation, Mission Driven Finance, Accion Serving Southern California, the San Diego & Imperial Small Business Development Center Network, and the California Southern Small Business Development Corporation. Ten million -- $5 million from the County and $5 million from the San Diego Foundation -- was raised. It is unique because it is structured to use a combination of subordinated funds and state guaranteed funds up-to $30 million to provide financial relief to small businesses and nonprofit organizations in the County who are struggling as a result of the coronavirus pandemic. Learn more at https://sandiegosbnlp.org/
- Partnered with the San Diego & Imperial Small Business Development Center (SBDC) Network to establish the SBDC Businesses Adapting to the New COVID-19 Environment with $1.7 million in funding from the US Small Business Administration (SBA) and the California Governor’s Office of Business and Economic Development (Go-Biz.), to educate, communicate, and assist San Diego County small business owners with navigating requirements related to the COVID-19 pandemic as they reopen. Assistance includes free online training (live and recorded) and free one on one mentoring and advice. Learn more at https://www.sdivsbdc.org/adaptsd/
- Infused $3.2 million in County Neighborhood Revitalization Program and Community Enhancement Program grants into the region to support COVID-19 response and recovery.
Also worth noting, last fiscal year, Supervisor Fletcher invested $300,000 of County Neighborhood Revitalization Program money to leverage 2-million-dollars in state and private resources to support small businesses in Linda Vista, City Heights, Rolando, Redwood Village, Encanto, and Chollas. In multiple languages, businesses are taught business basics, government contracting, financial literacy, marketing, and food and beverage courses to hundreds of local businesses. Learn more at www.innovate-up.com