City of Riverside Small & Micro Business Resiliency Grant Program

The City of Riverside Small & Micro Business Grant Program is designed to foster local small business resiliency by offering consultation services to identify areas for improvement and develop tailored strategies. The program aims to enhance financial stability, promote long-term sustainability, and build capacity for success among local businesses. This initiative addresses ongoing pandemic recovery needs and aligns with the Department of Treasury State & Local Fiscal Recovery Funds (SLFRF) to support long-term growth and reduce barriers for small businesses in disadvantaged communities. The target beneficiaries of this program are privately-owned, for-profit businesses that were in operation prior to March 13, 2020. This includes self-employed individuals, entrepreneurs, sole proprietors, 1099 independent contractors, home-based operations, LLCs, and C-Corporations. Individuals who started a business due to COVID-19 employment challenges before January 1, 2023, are also eligible. All applicants must be located within the City Limits of Riverside and possess a physical or residential business address. The program prioritizes businesses that are either categorically eligible (presumed impacted by ARPA) or can demonstrate a financial impact from COVID-19. This includes businesses experiencing decreased revenue, increased costs, challenges covering operating expenses like payroll and rent, or a lower capacity to withstand financial hardship due to depleted savings or lack of working capital. Annual gross revenue must be between $10,000 and $2.5 million, and businesses must have fewer than 50 employees, including owners. Maintaining active and good standing with all City, County, State, and Federal entities is also a key eligibility criterion. The expected outcomes and measurable results include increased financial stability and long-term sustainability for participating businesses, as well as enhanced capacity for success. The program seeks to reduce barriers to success for small businesses, particularly in disadvantaged communities, and promote access to valuable partner resources. In addition to direct financial support, with grant awards up to $25,000, all applicants receive a free one-on-one Strategic Planning Consultation. This consultation is a key component for identifying opportunities for improvement and building customized strategies, directly contributing to the program's goals of fostering resiliency and growth within the local small business ecosystem.