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Supervisors pause ordinance after Mayor and OEWD agree to $10M small‑business relief package
Summary
Supervisor Hillary Ronen said an agreement with the mayor and OEWD will free $10 million this week for small businesses: $1 million in philanthropic funds to double existing resiliency grants and $9 million in city funds to seed a new zero‑interest loan program of up to $50,000 per business. The committee continued the ordinance for one week to finalize details.
Supervisor Hillary Ronen said an agreement with the mayor and the Office of Economic and Workforce Development will produce immediate aid for small businesses harmed by the COVID‑19 crisis, and she asked the Budget & Finance Committee to delay formal consideration of an ordinance while staff finalize program details.
Ronen said the effort will release $10 million this week: $1 million in philanthropic contributions to expand the Small Business Resiliency Grant program and $9 million from city funds to launch a no‑interest loan program administered by OEWD and community partners. "My intention with this ordinance is to get assistance to small businesses who are suffering enormous losses at this moment and do it quickly," Ronen said, adding the loan product would offer up to $50,000 repayable over six years.
The mayor's economic team and OEWD director Joaquin Torres told the committee the package is designed to fill gaps for businesses that cannot access federal SBA relief. Torres said the $10 million will combine city and philanthropic dollars routed through the Give2SF fund and that individuals and corporations may donate at GiveToSF.org.
Supervisors asked how much of the $10 million would be direct grants versus loans and pressed for geographic equity and simpler application procedures. Torres and Ronen said the plan prioritizes smaller, neighborhood businesses and will partner with community development lenders and local organizations for outreach and technical assistance.
Ronen requested a one‑week continuance to finalize program rules and implementation details. Chair Sandra Lee Fewer moved to continue items 1 and 2 for one week; the roll call recorded three 'aye' votes and the motion carried. The continuance gives OEWD and the mayor's office time to provide final terms, eligibility criteria, outreach plans and timelines for disbursement.
Next steps: the committee will revisit the item at the continued hearing with finalized program details. OEWD staff committed to report back with application timing, partners, and operational plans so the committee can assess equity and speed of delivery.
