Economy

San Diego Mayor Kevin Faulconer’s Business Relief Fund has Saved Thousands of Local Businesses and Jobs

Written by Julianne Foster

The San Diego Business Relief Fund established by San Diego Mayor Kevin Faulconer in March has proven to be a blessing after helping more than 2,000 business owners and saving nearly 10,000 full-time employees. 

“Across the nation, small businesses are closing in alarming numbers because of the pandemic. We’re doing everything we can to stop the hemorrhaging of small businesses in San Diego,” said Faulconer. “We’ve been able to help 2,000 businesses survive for another day, but we know the need is great so I encourage San Diegans to do what they can to support their favorite local businesses during these trying times.”

Since the start of the pandemic, Mayor Faulconer has proven to be a saving grace for many businesses and employees. The relief fund was meant to help businesses with excessive financial burdens brought on by COVID-19—and unforeseen income losses—to allow them to keep their employees. The industries that were aided most from this fund include hospitality and food services, technical and scientific services, and health care, and retail. 

Faulconer continues to support businesses still not allowed to reopen by pushing for the approval of continued outdoor business permits.

The fund money, which to date is more than $20 million, came from the CARES Act, as well as other federal aid accessible to the city and private donations. Remaining fund money will be rewarded to existing applicants as made available.

However, the City Council has agreed to reallocate $700,000 from the Small Business Relief Fund to create a nonprofit partnership, which gives direct grants ranging from $1,000 to $5,000 to historically underserved communities. This is for special outreach and technical assistance for the people and businesses within those communities.