San Francisco announces $62M in grants, loans for COVID-19 small business relief

Struggling small businesses in San Francisco, some forced to close their doors during the surging coronavirus pandemic, are being offered the opportunity for grants and loans.

This as efforts to streamline new business permits continue.

The new plan announced Tuesday by San Francisco Mayor London Breed will include a mix of $62 million in grants and loans available to businesses most impacted by COVID-19.

"We are talking about our restaurants, our nail salons, our bars, our nightlife venues, our gyms," Breed said. "This new plan will more than triple the amount of local support we have provided in grants and loans so far during this pandemic."

A $12.4 million grant program will offer between $5,000 and $20,000, based on the number of employees a business had in February 2020. Another proposed loan program would offer $50 million to those businesses generating up to $2.5 million in revenue that have been left out of previous relief programs.

"We especially want to target those businesses that are located in high need neighborhoods that are operated by those who have had less success accessing existing programs," Mayor Breed added.

The city continues to implement Prop H passed by the voters this past November, which requires the city to grant permits to new businesses within 30 days.

Mayor Breed said the streamlined process will be essential as the city continues to open the economy in the months ahead.

Click here for more on the city's grants and loans.