After securing significant CARES Act funding for the City of Sacramento Small Business Recovery Forgivable Loan Program, the Metro Chamber has also successfully secured $1.46 million in funding for small business technical assistance services.
The Metro Chamber will utilize the expertise of our Capital Region Small Business Development Center (SBDC) to provide wrap around services to the 1,400 recipients receiving funding from the forgivable loan program.
The SBDC has a proven track record for providing such services, with an increased focus on triage services since the onset of COVID-19. From March 2020 through August 2020, they provided triage for 1260 clients; of these businesses, 463 are women-owned and 370 are minority-owned. During this period, the SBDC generated more than $22.8 million for its clients, with $16.7 million in COVID-related funds alone.
Now, the SBDC will provide technical assistance and help businesses develop plans in order to meet the requirements under the loan program.
Kyla Bryant, Program Coordinator with the SBDC, provided comment at the September 1 City Council meeting.
“We appreciate the City’s confidence in our organization and our program and know we will be a solid resource for businesses as they navigate the many challenges presented by COVID-19. Our center is grateful for your support and stands ready to serve.”
We are excited for this opportunity and appreciate our partners at the city for their collaborative spirit.