Deadline to submit application is November 30, 2021 11:59 PM: or until funds are fully disbursed.
$5,000 - $50,000 Loan to Grant
Loan to Grant Guidelines
Applicant must be a for-profit Business physically located and operating in the City of Bakersfield.
Funds are limited to (1) loan per business entity.
Applicant (Business) must have a current and valid City of Bakersfield Business License, and demonstrate that business has been operating for a minimum of one year.
Annual revenues should not exceed $2,000,000.
Applicant (Business) must have 25 or fewer employees.
Applicant (Business) must have been negatively impacted by the COVID-19 pandemic and must be able to document a financial impact.
Lending/Mortgage, Gambling, Not-for profit, Adult Entertainment, Pyramid and Religious Establishments will not be eligible to apply.
Applicants must be an operating business, not a passive real estate entity.
Applicants (Business) must have no outstanding state or federal tax liens.
In general, an applicant must have spent all funds received from government sources, private insurance, assistance, and any other sources for the intended purpose(s), and must still have an unmet need before he or she qualifies for CDBG-CV funds. Additionally, CDBG-CV applicants must verify that no other state/federal funding is available to meet these needs in order to avoid duplication.
Applicant will make small good faith repayment over the first year of the loan that will include interest. If the applicant meets repayment, other Bakersfield Business License requirements, and other programmatic guidelines, the loan will then convert to a grant.
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How to Apply and Submit Your Application Videos
Frequently Asked Questions
Yes, that is correct.
$2,500 per employee.
The loan amount is determined by the number of employees the business currently has or will hire, if a business has a total of 5 employees, the loan amount would be calculated as 5X$2,500, that would be a loan amount of $12,500.
Microenterprises with less than 25 employees, operating within the City of Bakersfield, who have been negatively impacted by COVID-19.
Yes, the max loan amount you qualify for is $2,500.
No, all applications must be submitted online. Applicants that need assistance with completing their online application can call the Kern Women’s Business Center at 661-567-0410.
November 30, 2021 or until funds have been fully disbursed.
Yes, all owners need to apply.
No, credit score will not be a decision factor.
A tax lien or bankruptcy.
Yes, as long as you can demonstrate that the license has been renewed post approval.