Sierra 2 among 101 businesses selected for city’s Covid-19 loans

The Sierra 2 Center for the Arts and Community has been selected to receive a $12,800 loan from the city’s $1 million COVID-19 economic relief fund.

Two other neighborhood businesses were also among 101 businesses in the city to receive zero-interest loans. Pangaea Bier Café, 2743 Franklin Blvd., was selected to receive $13,952. The Makers Place, 2618 X St., was to receive $5,000.

The city estimates the 101 businesses selected for loans provide more than 700 jobs.

“Given the magnitude of the economic disruption caused by Covid-19, this $1 million is a solid start but just the beginning of what government at all levels will be doing to protect our businesses, workers and non-profit organizations,” said Mayor Darrell Steinberg. “I’m happy that 101 small businesses in Sacramento can now breathe a little easier.”

The COVID-19 economic relief fund was established as part of the city’s efforts to mitigate the financial effects of the disease on our community. The city also established a temporary ban on evictions for residential and commercial tenants, waived delinquent utility penalties and set up an essential worker childcare program for first responders, health care workers and essential city staff.

“We knew we needed to act quickly to throw a lifeline to our local small businesses, artists and non-profits,” said Councilmember Steve Hansen. “Our economic relief loan program in hand with our temporary commercial eviction ban should help the thousands of city businesses that need help.”

The businesses were selected by city staff on a first-come, first-served basis from 1,402 completed applications. Micro businesses with five or fewer employees received $5,000. For businesses with six employees or more, the maximum loan amount was $25,000.

Written by Dennis Cusick and posted on Monday, April 6th, 2020

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