THRIVE PROGRAM Part of a Riverside County Small Business Program
All existing businesses and new businesses that have started on or after July 1, 2022 are eligible to apply for the Small Business Thrive Grant.
About the Thrive Program
To support local business owners and budding entrepreneurs facing economic challenges due to the pandemic, the Riverside County Office of Economic Development is collaborating with the Orange County Inland Empire Small Business Development (OCIE SBDC). This partnership aims to offer technical and financial support to the business community in the county.
Under the RivCo Small Business Thrive Program, which is a part of the American Rescue Plan Act (ARPA) Economic Recovery initiative, eligible business owners and aspiring entrepreneurs in the county can receive grants ranging from $1,500 to $5,000. These grants are designed to help start new businesses or expand existing ones. To qualify, individuals and businesses must fulfill all the necessary criteria, which include completing a small business training program, participating in one-on-one consultations provided by the OCIE SBDC, and attending a Financial Literacy webinar conducted by AmPac Business Capital.
Starting Your Business is a Program Away
Riverside County Revolving Loan Fund
The County of Riverside & AmPac Business Capital are partnering to provide ongoing capital for small businesses in Riverside County!
Microloans are available:
Ineligible Business Types
ALL communities of Riverside County.
- New/Startup Business
- Residential or real estate projects
- Non-profit companies
- Casinos/gambling establishments
- Gun Shops
- Adult-entertainment related
businesses - Cannabis-related businesses
Microloans up to $50,000
TARGET: small businesses with fewer than five employees
- Interest Rate: 6.5%
- Term: 5 years
- No payments for the first 6 months
FEE: Financed into the loan
REQUIRED DOCUMENTATION
- Payroll records documenting existing payroll
- Certification that information is accurate and true as presented
- One year of the most recent business and personal tax returns, year end
- 2019 financial statements are acceptable (balance sheet/income statement)
- Statement of COVID-19 impact (checklist provided)
- Must demonstrate negative impact from COVID-19 (owner must provide proof of 25% or more profit loss due to COVID-19 from January 31, 2020 to the date of the application)
- Business owner meets income limit – 80% Median Income: as of 07/01/2020, these are: 1* (42,200); 2(48,200); 3(54,250; 4(60,250); 5(65,100); 6(69,100); 7(74,750); 8(79,550)-*# of persons/Household.