City Announces New Tech Assistance Loan Program for Small Businesses

The City announces the launch of the Garden Grove MicroBiz Program, which provides technical and financial assistance to local small businesses looking to improve and expand operations. Qualifying local establishments can now apply for the MicroBiz Program by visiting ggcity.org/business-resources.

The new MicroBiz Program is for businesses with five or less employees and provides a wide range of technical assistance to support participating businesses. Services include: initial business assessments from experienced business advisors; business planning and counseling; financial management and budgeting; workforce development; sales and marketing; and technology.

Additionally, participating businesses can apply for a loan of up to $50,000 if hiring low-income individuals. The loan is designed to help offset business operation expenses while the business undertakes hiring and expands operations. The City's loan offers competitive financing with a minimum interest rate of 3%, and a maximum interest rate that does not exceed 75% of the current prime rate.

To qualify, businesses must be located in Garden Grove; have less than five employees (including the business owner); possess valid operating licenses and permits; and be in good-standing with the City.

The MicroBiz Program is part of the Garden Grove Business Resource and Resiliency Plan, designed to assist local businesses and stimulate growth and job creation, while improving Garden Grove's economic vitality.

For more information on Garden Grove's business programs and to apply for assistance, visit ggcity.org/business-resources or call the City's Office of Economic Development at (714) 741-5130.