Small business owners suffering from the coronavirus lockdown, get ready.
Starting at noon on Monday, April 27, the San Mateo County Strong fund will open up applications for grants of up to $10,000 to help fund payroll, operations or other costs associated with COVID-19 impacts.
Applications will only be accepted through the SMCStrong.org website.
Grants will be provided on a first-come, first-served basis, and it's expected that the funds will go fast, Don Cecil, consultant for SAMCEDA, the San Mateo County Economic Development Agency, told the county's Board of Supervisors Tuesday.
The board voted earlier this week, on April 21, to approve some criteria for who can get these grants. The county had previously set aside $1 million in Measure K dollars for the fund, and additional funds have been donated by community members and local cities.
For instance, Burlingame has contributed $500,000, which can provide up to 50 businesses the maximum $10,000 amount, and Redwood City has contributed $300,000.
The grants will be administered by the San Mateo Credit Union.
Qualifying businesses must be for-profit; have at least two but no more than 10 employees as of February 15, or less than $2.5 million in annual gross revenue; have a current business license; have an office, storefront or business space open to the public; have been open for at least a year; and be able to show that revenue has decreased by at least 25% because of COVID-19.
Business owners do not have to be U.S. citizens or legal residents to apply; undocumented business owners who can provide the required documents proving eligibility for the grants are eligible.
To prepare to apply, applicants should line up the following documents: a valid business license, bank statements, current profit and loss statements, IRS or state Franchise Tax Board tax returns, and documents showing proof of rent, mortgage, utility, health care premiums or payroll processing.
Find more information here.