SACRAMENTO – After advocacy from business groups, Legislative Republicans, and job creators, Governor Newsom has agreed to include Senate Bill 87, coauthored by Senator Shannon Grove (R-Bakersfield), in the state budget. SB 87 aims to help struggling businesses by providing an additional $2.1 billion in grants to small businesses and nonprofits across the state.
“Due to the governor’s never-ending shutdown, we have tens of thousands of businesses that have closed for good and thousands more struggling to stay afloat,” said Senator Shannon Grove. “Our small businesses are more than just a storefront; they are an accomplished dream, job creators, and the backbone of our state’s economy.”
In December, Grove and other Senators introduced the Keep California Working Act to support struggling businesses and nonprofits by providing $2.6 billion to businesses in extra state revenue. After weeks of negotiations, advocacy, and momentum surrounding the Keep California Working Act, the governor agreed to include the basis of the Act in his budget with Senate Bill 87.
“As a coauthor of the original measure to provide this financial relief for businesses, I am pleased that the governor has agreed to include our request in the state budget,” continued Grove. “While second to reopening the state, the least the governor could do after a year of arbitrary and unfair business closures is help prevent them from closing for good.”
Senate Bill 87 invests an additional $2.1 billion into the state’s COVID relief small business and non-profit grant program. This investment builds on an earlier amount of $500 million, for a total of about $2.6 billion in funding for this program. The program provides up to $25,000 in grants for eligible small businesses and nonprofits.