We’re excited to announce the City of Bakersfield unveiled its new ReStart Loan-to-Grant Program. Designed to help local small businesses hurt by the COVID-19 pandemic, the nearly $2 million program offers forgivable loans of up to $50,000 based on their payroll size.
Online applications are open, and you can apply now by clicking the button below:
The program will accept applications until November 30 or until all funds are awarded. Qualified recipients must be located within city limits, have 25 or fewer full-time employees, and report annual revenues of no more than $2 million, among other requirements.
According to guidelines, the loans will be forgiven if recipients are still operating 12 months after they receive the money. Not-for-profit businesses are not eligible, and neither are churches, lending establishments, or businesses related to gambling or adult entertainment.
Application information for the ReStart Loan-to-Grant program is also available by calling Access Plus Capital at (661) 448-2133 or Bakersfield’s Women’s Business Center: (661) 567-0410. Information is also available online at https://www.accesspluscapital.com/covid-relief/.