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How Stanislaus’ $832 million in COVID relief helped the county’s smallest businesses

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Leave it to a global pandemic to test the limits of the saying “Every little bit helps.”

Last spring, as the Central Valley and the entire nation reeled from the COVID-19 pandemic, relief money began to flood into the area from the federal government. The much lauded, and also maligned, Paycheck Protection Program began doling out forgivable loans of up to $10 million dollars to businesses small and not-so-small across the region.

But the data on the smaller businesses — those receiving less than $150,000 from the Treasury Department-supported program — was not released until late last year. The more complete release of PPP information paints a clearer picture of who got what in Modesto and across the valley.

With loans ranging from a few hundred dollars to a few million, the program has given out a total of more than $832 million to Stanislaus County businesses, according to data from the Small Business Administration that has been reviewed by The Bee.

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Grant program to provide relief for local businesses

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After distributing over $3 million in federal aid and community contributions to nearly 350 businesses in the spring, the Stanislaus County Board of Supervisors recently approved another opportunity for business owners to receive financial help as the coronavirus pandemic wears on.

The Board of Supervisors unanimously approved the establishment of a Business Grant Program during their July 14 meeting, which will utilize a total of $10 million in business revitalization and economic support funding thanks to CARES Act Coronavirus Relief Funds.

Stanislaus County received $96.1 million of the $150 billion in relief funding included in the CARES Act. In June the Board voted to allocate $15 million of that funding for business revitalization and economic support — $10 million of which has been set aside for the new grant program, $4 million that will be directed to nonprofit organizations in the community and another $1 million which is being considered for a touchless gift card program.

Continue Reading on Turlock Journal

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