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City Council Approves Small Business Grant Program

CONTACT:   Lynn Oshita, Community Development Analyst, 805.449.2391; loshita@toaks.org
Melissa Hurtado, Media Liaison, 805.449.2117; mhurtado@toaks.org

 City Council Approves Small Business Grant Program

The City of Thousand Oaks Small Business Assistance Grant Program will provide financial assistance to eligible, locally-owned, small businesses impacted by the Coronavirus (COVID-19) to continue operations and retain employees. The grant fund’s intended use is for payroll and/or rent/mortgage. Applicants may receive up to $10,000 in the form of a grant that will not require repayment. The program is funded by $340,000 in federal Community Development Block Grant funds, all operating assistance must be compliant with federal regulations. The primary focus is on assisting low-to- moderate income (LMI) employee beneficiaries.

 Some of criteria for the grant funding includes that the business:  

  • Is located within city limits and in commercial property
  • Must be locally-owned (resident of Ventura County or lives within 10 miles of Thousand Oaks)
  • Was established prior to February 1, 2020
  • Have at least 1 employee and up to 9 employees
  • Must show financial impact of COVID-19 on business
  • Must demonstrate how funding request will help preserve jobs
  • Will verify that no other federal or state funding or assistance has been received

“This funding will potentially help over 30 businesses in our City. Small businesses are what keep our community together, and this is a program that will provide immediate relief” said Mayor Al Adam “businesses have had a tough break through all of this, and we want to do whatever we can to help.” 

The City will host a virtual workshop for interested applicants on June 30th at 2 pm via Zoom. The application period will be open July 1st through July 20th and awardees will be notified by August 1st . The City expects to begin dispersing funds to awardees mid-August.

For more information and the full application criteria, please visit http://www.toaks.org/edgrants

 

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