Additional $5 million of Coronavirus Aid, Relief, and Economic Security Act funding
AUBURN, Calif. – Placer County has designated an additional $5 million of its Coronavirus Aid, Relief, and Economic Security Act funding to aid small businesses and nonprofits in the county through a new, targeted grant program called Placer Shares Impact Grants. Funding will be prioritized for small businesses to focus on community business anchors and job preservation and for nonprofits to focus on rental assistance, food/housing insecurity and counseling/mental health needs.
“As we head into the holidays, our goal is to shore up the county’s critical safety-net services,” said Placer County Board Chair Bonnie Gore. “With philanthropic giving down, we are doing our part to fill the gap and keep food on tables, a roof over our residents’ heads and access to critical mental health services as we close out a very challenging year.”
Over $14 million to date
To date, Placer County has designated over $14 million to businesses and nonprofits, with over $9 million already disbursed through previous grant programs. From the additional $5 million, the Placer County Board of Supervisors approved funding for 100% of eligible nonprofits and businesses that applied to the previous round of Placer Shares grants. With the remaining funds, the county is shifting its funding strategy with Placer Shares Impact Grants by focusing the bulk of funds on nonprofit programs that provide key safety-net services outlined above.
“We know that small business is a key foundation for our local economy and are proud to say that 100% of eligible small business applicants received funding in our first round of grants.” said Gore. “For this next round, we aim to save jobs through funding key community businesses. We will invest the bulk of available funds into our critical non-profit community services as we anticipate their needs increasing in the months to come.”
Applications opened for eligible businesses today, Nov. 12, and close Nov. 20. Nonprofit organizations may apply Nov. 16 through Dec. 7.
Eligibility and application requirements differ for the respective sectors. Interested parties can find full details at placer.ca.gov/shares.