BAKERSFIELD, Calif. — Kern County announced that applications will be available for the Kern Recovers Program on Tuesday.
The Kern Recovers program provides $25M in financial support to #KernCounty small businesses impacted by COVID-19. Accepting applications beginning May 26th. Info at https://t.co/ME6jD1L4AR @KGET @23ABCNews @bakersfieldnow @tbcbreakingnews @kuzznews
— Ryan J. Alsop (@KernCAO) May 22, 2020
According to the county, the Kern Recovers Program provides $25 million in forgivable loans of up to $75,000 each to local small businesses like restaurants, gyms, and salons to directly mitigate the economic impacts of COVID-19.
While similar to the federal Payroll Protection Program, the county’s program provides increased flexibility and will only be available to local small businesses with less than 50 employees and under $5 million in annual revenue.
Four local financial institutions, Valley Republic Bank, Mission Bank, Valley Strong Credit Union and AltaOne Federal Credit Union, have partnered with the county to process applications and administer these funds to eligible applicants.
Interested businesses don't need to be customers of the banks in order to apply for the loans, nor will they be required to become customers.
For more information, click here.