2024 P.E.A.R.L. Pledge Grant

The City of Oakley's Small Business Grant Program aims to bolster local businesses that have faced challenges due to the COVID-19 pandemic and economic shifts. This initiative directly aligns with a broader mission to foster a resilient local economy and support the foundational stability of small enterprises within the community. By offering financial assistance, the program seeks to mitigate the adverse effects experienced by businesses, helping them to navigate market fluctuations and maintain operational health. The primary beneficiaries of this grant are small businesses located within Oakley City Limits, holding a valid City of Oakley Business License, and employing fewer than 25 individuals. The program specifically targets private corporations, LLCs, and similar entities that can demonstrate financial hardship directly attributable to the pandemic, while excluding publicly traded companies. The impact goals are centered on ensuring the survival and sustained operation of these businesses, thereby preserving local jobs and maintaining essential services within the community. The program prioritizes businesses based on their annual revenue in either 2020 or 2021, categorizing them into two tiers. Businesses with an annual revenue of less than $100,000 are eligible for a $2,500 grant, recognizing their potentially more acute needs. Those with an annual revenue of $100,000 or more can receive a $5,000 grant, acknowledging their greater operational requirements and significant contributions to the local economy. This tiered approach ensures that support is proportionally distributed based on a business's economic scale and impact. Grant funds are designed to cover essential business expenses, offering flexibility to address immediate needs. Permitted uses include implementing safety protocols, covering rent and utilities, retaining employees, and investing in marketing and promotional activities. The expected outcomes include enhanced business stability, a reduction in business closures, and the preservation of local employment. Measurable results would involve tracking the number of businesses supported, the types of expenses covered, and the overall economic health indicators of participating businesses. The strategic priority is to build a stronger, more stable local business environment, with a theory of change rooted in the idea that targeted financial support can directly enable small businesses to overcome economic shocks and contribute to long-term community prosperity.