Tag Archives: Gov. Newsom

Helping ALL Californians

Economy,

Undocumented immigrant workers in California will be the first to receive financial aid.  Those who have not been able to get Pandemic Unemployment Assistance or are not eligible to collect unemployment insurance will be assisted in this way.

The value of this – according to a recent statement by Gov. Newsom – is $125m.  $75m of that will be in the form of state funds for disaster relief assistance.  A further $50m has been committed from charitable entities.  As Newsom said:

 “Even if there’s gaps, we can help begin to fill them.  I’m not here to suggest that $125 million is enough. But I am here to suggest that it’s a good start and I’m very proud it’s starting here in the state of California. We feel a deep sense of gratitude for people that are in a fear of deportation but are still addressing the essential needs of tens of millions of Californians.”

What this means is that $500 will be given to around 150,000 undocumented Californians – $1,500 maximum for each household which is 10 percent of the entire workforce in the region.

Micro Loan Program

Economy, ,

A $50 million initiative for LA’s most at-risk businesses was recently announced by Gov. Newsom.  It is hoped that all California firms with up to 750 employees will be able to benefit from the Small business Loan Guarantee Program, funded by the taxpayer.

The endeavor is being undertaken by the California Infrastructure and Economic Development Bank (IBank), in an effort to offer some aid to the smaller firms that are undergoing losses that have resulted from the COVID-19 global pandemic. These are those which will not qualify from the $349 billion that nationwide, the federal government has earmarked for small businesses in “forgivable loans.” This is because the process of getting an SBA loan is not so simple and thus excludes many business owners who need the money.

This micro-loan announced by Newsom is to help those who would otherwise “fall through the cracks.”