SACRAMENTO, Calif. (KABC) — Gov. Gavin Newsom on Thursday announced a “bridge loan” of up to $50,000 for small businesses in California amid the coronavirus outbreak, with a 12-month reprieve of state sales tax.
Newsom said the loan would not include and fines, penalties or interest as many businesses across the state have been forced to close their doors, lay off employees and scale back operations.
The governor made the announcement during a press briefing where he announced a series of actions to help California’s small businesses and struggling workforce.
