We are excited to announce two NEW rounds—Rounds 3 and 4—of the California Relief Grant.
On February 23rd, Governor Newsom signed into law a comprehensive package providing urgent relief for the small businesses of CA. The package provides an additional $2 billion – a four-fold increase over the $500 million currently being distributed – for grants up to $25,000 for small businesses impacted by the pandemic, and allocates $50 million of this total for non-profit cultural institutions.
Please read below for additional information about each round.
ROUND 3 (WAITLISTED FROM ROUNDS 1 AND 2)
Round 3 is a CLOSED round and only available to eligible applicants that have been waitlisted in Rounds 1 and 2. Applicants will be selected from the existing pool of waitlisted applicants. Applicants do not need to reapply.
Important Dates for Round 3
Closed Round Opens: March 05, 2021
Closed Round Closes: March 11, 2021
Start of Selection Notifications: March 05, 2021
ROUND 4 (ARTS & CULTURAL PROGRAM)
Round 4, The Arts & Cultural Program, will support California eligible nonprofit cultural institutions defined as registered 501(c)(3) nonprofit entities that satisfy the criteria for a qualified small business, but with no limitation on annual gross revenue, and that are in one of the following North American Industry Classification System codes:
(A) 453920 - Art Dealers
(B) 711110 - Theater Companies and Dinner Theaters.
(C) 711120 - Dance Companies.
(D) 711130 - Musical Groups and Artists.
(E) 711190 - Other Performing Arts Companies.
(F) 711310 - Promoters of Performing Arts, Sports, and Similar Events with facilities.
(G) 711320 - Promoters of Performing Arts, Sports, and Similar Events without facilities.
(H) 711410 - Agents and Managers for Artists, Athletes, Entertainers, and Other Public Figures
(I) 711510 - Independent Artists, Writers, and Performers.
(J) 712110 - Museums.
(K) 712120 - Historical Sites.
(L) 712130 - Zoos and Botanical Gardens.
(M) 712190 – Nature Parks & Other Similar Institutions
Important Dates for Round 4
Application Opens: March 16, 2021
Application Closes: March 23, 2021
Start of Selection Notifications: TBD
Webinars will be available for each round, Check back for updates or click the link below to be added to the email list.
ROUND 3 (WAITLISTED FROM ROUNDS 1 AND 2)
Round 3 is a CLOSED round and only available to eligible applicants that have been waitlisted in Rounds 1 and 2. Applicants will be selected from the existing pool of waitlisted applicants. Applicants do not need to reapply.
Important Dates for Round 3
Closed Round Opens: March 05, 2021
Closed Round Closes: March 11, 2021
Start of Selection Notifications: March 05, 2021
ROUND 4 (ARTS & CULTURAL PROGRAM)
Round 4, The Arts & Cultural Program, will support California eligible nonprofit cultural institutions defined as registered 501(c)(3) nonprofit entities that satisfy the criteria for a qualified small business, but with no limitation on annual gross revenue, and that are in certain North American Industry Classification System codes.
Important Dates for Round 4
Application Opens: March 16, 2021 Application Closes: March 23, 2021
Webinars:
Wednesday March 17th at 6:30 PM and Monday March 22nd at 2:00pm
Flagstar Bank is here for you
Your branch manager or relationship manager is here to support you. We appreciate your business, and we are committed to assisting you through any disruptions that may arise relating to COVID-19.
Guiding you through the PPP process
To our valued nonprofit partners,
Congress recently approved $284 billion in additional relief to support small businesses and nonprofit organizations during the coronavirus crisis. This latest iteration of the SBA Paycheck Protection Program (PPP) targets organizations with up to 300 employees that have experienced at least a 25% reduction in revenue in any quarter in 2020 compared to the same period in 2019. It also promises a simpler process for loan forgiveness than earlier programs.
Flagstar is participating in this round of PPP. We are now partnering with Loan Source/ACAP, a firm specializing in helping businesses and nonprofits access their PPP funds and maximize loan forgiveness.
How to apply for a PPP loan
The Loan Source Smart Portal brings together in one place the information you need to determine if a PPP loan is right for you. Starting today, you can submit your PPP application from within the Smart Portal, which provides helpful digital tools to guide you through the process.
Visit the Loan Source to apply
For questions about the PPP loan application and approval process, please contact Loan Source directly:
Loan Source/ACAP
theloansource.com/partners/flagstar/
1-800-929-2235 support@theloansource.com
