A new $500,000 grant program for small businesses in San Francisco's Bayview District will help support local entrepreneurs who've been impacted by the coronavirus pandemic, city officials announced Monday.
The Phoenix Fund was established by the San Francisco Public Utilities Commission, Mayor London Breed, Supervisor Shamann Walton and the Office of Economic Workforce and Development.
The grants will offer entrepreneurs and small businesses in the neighborhood funding to help stabilize losses, navigate payrolls and sustain operational needs.
"Our small businesses are suffering and need immediate help, and these grants can provide a measure of relief," Breed said in a statement.
"The Bayview is home to so many critical city facilities, and I'm glad to see the SFPUC and its contracting firms stepping up to support the community. We know there's much more that needs to be done in both the near future and over the coming weeks and months to help our small businesses recover, and we're committed to doing everything we can to make that happen," she said.
"Bayview's small businesses are the heart of our community and are being negatively impacted by this nightmarish pandemic," Walton said. "This Phoenix Fund is a unique opportunity - specifically for Bayview small businesses - that will help mitigate the negative economic impacts for these community anchors. We will continue to work on strategies that will help our businesses survive this unprecedented hardship," he said.
Under the program, commercial storefronts with two or fewer employees can apply for a $5,000 grant, and commercial storefronts with more than two employees can apply for a $10,000 grant. Also, small businesses with two or fewer employees can apply for a $2,500 grant, while small businesses with more than two employees can apply for a $5,000 grant.