MONTEREY COUNTY, Calif. (KION) U.S. Secretary of Commerce Wilbur Ross announced that the department's Economic Development Administration is giving $15 million in CARES Act Recovery Assistance grants to help small businesses in Northern California, including Monterey County.
The grants will provide Revolving Loans Funds that are intended to help businesses affected by the COVID-19 pandemic recover from the financial toll it has taken.
“COVID-19 has taken a serious toll on small businesses in rural Northern California,” said Congressman Doug LaMalfa (CA-01). “These grants will provide our businesses with extra support to help facilitate small business loans as they work to reopen safely and responsibly."
Monterey County is expected to receive a $1.7 million grant to provide loans to businesses.