RANCHO CORDOVA, CA (MPG) - The City of Rancho Cordova is launching a recovery grant program designed to provide support to businesses who are experiencing negative financial impacts as a result of COVID-19/coronavirus. The City Council voted to approve $200,000 to provide individual grants of up to $10,000 to eligible businesses. The application period for the program opened on Monday, September 21 and will close on Sunday, September 27 at 5 PM.

“Through this program, we hope to provide Rancho Cordova businesses some of the financial assistance they need as a result of this pandemic,” said Cyrus Abhar, City Manager for the City of Rancho Cordova. “We care deeply about our business community, and we will continue to explore creative and innovative ways to help them recover,” he added.

Businesses located in Rancho Cordova with 25 full-time equivalent employees or less, and those who made less than $3 million in revenue in 2019, are eligible to apply for the program. Businesses also must be in good standing with the city as defined in the application, among other eligibility requirements.

Grants will be awarded randomly from all eligible businesses who have applied based on the program’s requirements.

Businesses may use the grant funds to offset or reimburse costs related to the negative impacts of COVID-19 including:

General business operations; Payroll expenses; Supplier payments; Rent, lease, or mortgage payments for the business property; Personal Protective Equipment (PPE) and/or sanitation supplies and equipment; Investments in software or technology that allow for a shift to online operations; Equipment purchases that expand and/or modify operations

To apply or to learn more about the Rancho Cordova Recovery program, visit CityofRanchoCordova.org/RecoveryGrants.