IE Business Daily Business news for the Inland Empire.
Palm Springs has announced they are accepting applications for its $1 million COVID-19 Small Business Financial Aid Program.
Eligible businesses will receive a zero percent $10,000 loan that will be forgiven if the business stays open for at least six months, according to a statement on the city’s website.
The city council approved the plan last month.
To qualify, a business must be independently owned, show that it’s been hurt by COVID-19, have fewer than 25 full-time employees and have had a Palm Springs business license as of May 1, 2020.
Also, the business must be in “good standing” within the city and have complied with all COVID-19 restrictions.
Businesses with one to five employees that have been closed the longest will get top priority. Businesses with six to 25 employees will be evaluated based on what they do and whether they have received other financial help.
To download an application, or to get more information, visit www.palmspringsca.gov/covidbizhelp.
