We’re giving away $1 million in small business debt relief

SF New Deal is very excited to announce the launch of our new micro grant program to distribute $1,000,000 in debt relief to small businesses in San Francisco. Small businesses are the foundation of our neighborhoods, bringing vibrancy and vitality to our communities. They have been hammered by the pandemic and are mired in debt even as reopening expands. To help support them through this crisis, we are providing grants of $2,500 to 400 small businesses.

Our March 2021 survey of San Francisco restaurants found that the number of restaurants facing debt, as well as the amount of debt, has increased significantly over the course of the pandemic. 60% of restaurants are currently in debt, compared to 34% at the start of the first shelter-in-place order over a year ago. On average, debt nearly doubled, increasing from $62,000 to $114,000. The survey reflects the findings from restaurants, but we know that small businesses in every category are fighting for survival.

Small business debt continues to grow and recovery will take years. The aim of our Small Business Debt Relief Grant Program is to provide immediate financial relief to small businesses. We are also excited to use this as an opportunity to build a diverse set of business owners who can advise on the challenges facing small business recovery and inform SF New Deal's future programs, advocacy efforts, and policy recommendations.

This grant program is open to all small businesses, including newly opened businesses, that have not previously participated in any of SF New Deal’s programs. The business does not have to be a restaurant to apply -- for example bookstores, retail stores, nail salons or any type of impacted small businesses are encouraged to apply.

Individuals can apply for their own business to receive a grant or can nominate their favorite small businesses for the grant. Application and nomination details are listed on our Small Business Debt Relief Grant Program page. The application submission period is from June 1 - June 30, 2021. Grant award announcements will be made by July 31, 2021.