In order to best support your business, please take a few minutes to fill out this survey so we can best identify your most pressing needs and respond to the Milpitas business community accordingly.

MILPITAS SMALL BUSINESS LOAN PROGRAM

  • On June 16, the Milpitas City Council approved a $200,000 loan program to assist small businesses with financial assistance during the economic devastation due to the COVID-19 pandemic. Microenterprise Business and Small Businesses that meet all eligibility criteria may be eligible for loans of up to $5,000 with 0% interest. Applications could become available on the City’s website as early as July as City staff and partners, Enterprise Foundation and Kiva, work collaboratively to develop the implementation of the program. All loan recipients will be required to hire or retain low- and moderate-income persons, per federal Community Development Block Grant requirements.
  • Eligibility criteria summarized below:
    • 24-month repayment term; tied to performance;
    • Businesses must have a long-standing presence in Milpitas (minimum of 3 years);
    • Retail, restaurants, service sector and “mom and pop” businesses with physical storefronts;
    • Applicants cannot exceed $2M in revenues for the prior 2 calendar years;
    • Not eligible if previously involved in wage theft or any other illegal activities;
    • No history of being delinquent or default on prior loans (previous 7 years);
    • Funds may be used for rent/mortgage, payroll, operating expenses for products or services in Milpitas, and must show receipts to City of Milpitas or potentially be penalized; and
    • Further details will be forthcoming in the coming weeks.

MILPITAS BUSINESS ASSISTANCE

  • Business representatives needing assistance with technical assistance such as loan eligibility, purpose of funds, repayment plan, SBA supporting information required, etc., please write directly to staff via email at BusinessAssistance@ci.milpitas.ca.gov.

BUSINESS RESOURCE GUIDES

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