City Heights Business Relief Fund
The economic impact of COVID-19 has been catastrophic for small businesses. Diverse communities such as City Heights have especially been hit hard, and many small businesses owned by people of color have had challenges accessing limited Federal, State, and City relief funds.
In an effort to help these locally owned businesses survive the current crisis and sustain their operations for the long-term, LISC San Diego joined with members of the City Heights Economic Development Collaborative to launch the City Heights Business Relief Fund and provide grants and technical assistance to businesses in City Heights facing immediate financial pressure as a result of COVID-19.
To date, the collaborative has raised nearly $400,000 - thanks to the generous initial investment of $50K from U.S. Bank Foundation, and subsequent funding support from Price Philanthropies, SDG&E, Union Bank, The Hervey Family Fund at The San Diego Foundation, JP Morgan Chase, and Pacific Premier Bank.
The fund provides grants ranging from $4,000 to $10,000 and technical assistance to businesses in City Heights facing immediate financial pressure as a result of COVID-19. The grants and technical assistance help businesses fill urgent financial gaps -- from paying rent to payroll to covering lost profits to making physical, technology and operational improvements to comply with physical distancing requirements -- until they can resume normal operations.
The selection committee consisted of representatives from: LISC San Diego, City Heights CDC, International Rescue Committee, City Heights Business Association, El Cajon Blvd Business Improvement Association, and U.S. Bank.
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