Introduction to the Grant Program
The city of Malibu is accepting grant applicants for the month of May from small businesses that are affected by the recent natural disasters, including the Palisades Fires, officials said.
The Malibu City Council this week greenlit the establishment of the Small Business Micro Stabilization Grant program to provide grants ranging from $5,000 to $20,000 to qualified small businesses whose earnings have been impacted by the January fire, winter storms and the closure of Pacific Coast Highway.
Program Funding and Objective
The program is getting an initial $300,00 from the city’s general fund. “The program is designed to deliver immediate and flexible financial support to independently owned businesses within Malibu city limits,” the city said in a statement. The primary goal is to help these businesses recover from the recent disasters and get back on their feet.
Eligibility and Application Process
Applications are accepted through May 31 with awarded businesses being allowed to cover a number of eligible expenses, including rent, payroll, repairs and other recovery-related costs with the funding. To qualify, businesses must have a valid business license within Malibu city limits, in addition to demonstrating financial hardships and their public benefit to the Malibu community. See here to apply and obtain additional information.
Conclusion
The Small Business Micro Stabilization Grant program is a vital initiative by the city of Malibu to support small businesses affected by the recent natural disasters. By providing financial assistance, the city aims to promote economic stability and resilience within the community. This program is a step in the right direction towards helping Malibu’s small businesses recover and thrive once again.
FAQs
- Q: What is the Small Business Micro Stabilization Grant program?
- A: It’s a program established by the Malibu City Council to provide grants to small businesses affected by recent natural disasters.
- Q: How much funding is available for each business?
- A: Grants range from $5,000 to $20,000.
- Q: What can the grant funds be used for?
- A: Eligible expenses include rent, payroll, repairs, and other recovery-related costs.
- Q: How do businesses apply for the grant?
- A: Applications are accepted through May 31, and more information can be found on the city’s website.
- Q: What are the eligibility criteria for the grant?
- A: Businesses must have a valid business license within Malibu city limits and demonstrate financial hardship and public benefit to the Malibu community.
