NEWPORT BEACH, Calif. — Newport Beach is offering a grant program for qualifying local businesses with successful applicants slated to receive $5,000, the city said in a news release.
The money comes from a $290,000 infusion from the Orange County Board of Supervisors’ 2nd District.
To receive the aid, businesses must show evidence of financial harm or distress from the COVID-19 pandemic. The money is available for independently owned businesses within the city limits and must be contained in a commercial or industrial space. It is targeted at small businesses and won’t be available to any applicants with more than 50 employees. Businesses must also have gross receipts of $15 million or less over the past three years to be eligible.
Priority will be given to those that have not received a city grant within the past year, the city said, but will focus on aiding restaurants, small gyms, and other on-site service businesses.
Should the city receive more eligible applications than it has money to award, it will create a lottery system to randomly distribute the funds.
The application window is scheduled for Wednesday, February 10 to Wednesday, February 17 at 5 p.m. Applicants can access the program forms at www.newportbeachca.gov/supportgrants.