(KION) Governor Newsom announced new resources to help small businesses and people who are out of work as a result of the coronavirus pandemic.
Starting Friday, small business affected by the pandemic can apply for a loan from the federal government up to $10 million. It is first-come, first-serve, and business owners are encouraged to contact their lender for more information.
The state will also be giving $50 million to the California Infrastructure and Economic Development Bank for loan guarantees to small businesses to help those who do not qualify for federal funds, including low-income and undocumented immigrant communities.
The Governor, along with Bitwise Industries and the Kapor Center, has launched OnwardCa.org, a platform that connects displaced workers with more than 70,000 job opportunities in critical industries.
Newsom also signed an executive order Thursday that will restrict water shutoffs to homes and small businesses while the state responds to the coronavirus pandemic. The Governor said it protects those who may not be able to pay for their water service from shutoffs.