San Francisco committee approves $550K loan fund to assist COVID recovery

The San Francisco County government meeting held on July 4, 2025, commenced with a presentation from Angel Cardoz of the Office of Economic and Workforce Development (OEWD). The primary agenda item was a request for the committee's recommendation to accept a $550,000 financial assistance award from the Department of Commerce Economic Development Administration under the Cares Act.

Mr. Cardoz outlined that the funds would be utilized to establish a revolving loan fund aimed at addressing the economic disruptions caused by the COVID-19 pandemic. The initiative is designed to support long-term economic recovery and resilience within the city. The funds will cover various activities, including advertising the loan availability, processing applications, servicing loans, and providing technical assistance to borrowers.

Following Mr. Cardoz's presentation, Linden Berry from the Budget Legislative Analyst's Office confirmed that there was no report on this item and noted that it would not have a fiscal impact. The committee then opened the floor for public comments, but no callers expressed interest in providing input.

After closing public comment, the committee moved to a vote on the motion to forward the item to the full board with a positive recommendation. The motion passed unanimously, with all members voting in favor.

The meeting proceeded to the next agenda item, indicating a structured and efficient progression of discussions. Overall, the acceptance of the Cares Act funding marks a significant step towards bolstering San Francisco's economic recovery efforts.