San Diego County supervisors unanimously agreed Tuesday to expand the county’s $5 million small business loan COVID relief program regionwide to small businesses operating in cities.
Supervisors in late April established the loan program initially to help businesses in the unincorporated areas that are experiencing hardship from the COVID-19 pandemic. The program had $5 million to allocate but nearly $1 million has been loaned so far.
At the time, only businesses in the unincorporated areas with fewer than 50 employees could qualify for loans, which can be as large as $50,000 with up to 2 percent interest. The loans have to be paid back within two years.