Funding
Solano Biz-Grow Loan Program
A small business resiliency loan for Solano County business owners
Program Overview
Solano Biz-Grow is a new, locally-operated loan program that will give small business owners in Solano County the opportunity to apply for low-interest loans between $25,000 and $125,000.
Solano County’s Board of Supervisors has allocated $3.6 million in American Rescue Plan Act (ARPA) funding for Solano Biz-Grow. Loans will be approved to business owners through three local lenders – Travis Credit Union, First Northern Bank, and Valley Strong Credit Union.
All loans will have a 6% fixed interest rate and a loan term of five years. Business owners will need a minimum credit score of 630 to apply for approval. The loan application fee is $250, but borrowers who complete an assessment and counseling with the Solano-Napa Small Business Development Center will receive a $250 rebate to cover that cost.
To be eligible for a Solano Biz-Grow loan, borrowers MUST (1) have had a business in operation prior to Dec. 31, 2021, (2) be located in Solano County, and (3) meet ONE MORE MORE of these COVID-19 impact eligibility requirements:
- Had a negative economic impact from the pandemic including a decrease in revenue, a rise in operating costs or higher labor costs
- Is located in an eligible area (This includes the Qualified Census Tract in areas of Fairfield and Vallejo or a demonstrative area, such as a downtown, that was impacted by the pandemic.)
- Is in an industry that was economically impacted by the pandemic (such as lodging, restaurant, etc.)
- Is a minority-owned business
Contact to Determine Eligibility
Wendi Reed
Solano EDC Loan Program Manager
707-864-1855 ext. 21
wendi@solanoedc.org
Frequently Asked Questions (FAQs)
How many grants will be awarded?
63 agricultural businesses will receive $5,000 each.
How will applicants be chosen to receive the award?
If more than 63 eligible businesses have applied for the grant, a randomized lottery will determine the order of funding.
Recipient 1 thru 63 will be verified that they meet the 6 criteria (see What businesses are eligible for the grant, above) and will be approved for the grant if they do.
For any businesses that do not qualify, the next recipient on the list will be chosen and verified until all funds are exhausted.
What is the deadline to apply?
Applications will be accepted through Feb. 29, 2024. APPLY NOW
When will I know if my business has been selected?
If you are one of the first 63 businesses randomly selected, you will hear from Solano WDB/Solano-Napa SBDC beginning mid-February 2024. You will then need to verify that your business meets the 6 criteria for the award.
If any of the randomly-selected businesses did not qualify, the next business will be awarded as those spaces become available.
After verification is complete, it may take up to two months for you to receive the grant.
I have multiple businesses. Can I receive more than one grant?
No, only one grant per business and per person/household.
Who can I contact if I have questions/for assistance?
Please contact Lisa Shipley, executive director Solano County Farm Bureau, at 707-449-8044 or email lisa@solanofarmbureau.org
You are also welcome to reach out to the Solano-Napa SBDC at 707-646-1071 or info@solanonapasbdc.org
In addition, if you would like assistance with your business, you can sign up for SBDC NO CHARGE one-on-one business advising by requesting our services.
Who is funding this grant?
The County of Solano, in partnership with the Solano County Farm Bureau, the Workforce Development Board (WDB) of Solano County and the Solano-Napa Small Business Development Center (SBDC), has established the Solano County Agricultural Grant using funding from the American Rescue Plan Act (APRA).
What businesses are eligible for the Solano County Agricultural Grant?
A farm or agricultural business is eligible for the $5,000 grant funding if it meets ALL the following 6 criteria. The business must:
- Be currently operating business and was open on or prior to Jan. 31, 2021
- Be currently based in Solano County
- Have had 2021 gross revenue under $400,000
- Have a county business license, an Ag Pass, OR follows the same criteria as qualifications for an Ag Pass
- Attest to negative impacts from the COVID-19 pandemic
- Be an agricultural business that falls under one of the following industry codes/categories:
- 1111 – Oil Seed and Grain Farming
- 1112 – Vegetable and Melon Farming
- 1113 – Fruit and Tree Nut Farming
- 1114 – Greenhouse, Nursery and Floriculture Production
- 1119 – Other Crop Farming
- 1121 – Cattle Ranching and Farming
- 1122 – Hog and Pig Farming
- 1123 – Poultry and Egg Production
- 1124 – Sheep and Goat Farming
- 1125 – Aquaculture
- 1129 – Other Animals Production
- 1151 – Support Activities for Crop Production
