County Approves $300,000 Grant for East County Small
San Diego County supervisors have approved a $300,000 grant to seed a revolving loan fund for East County small businesses, which can access loans from
The San Diego County Board of Supervisors has approved a one-time $300,000 grant to support small businesses in East County. The money will seed the East County Economic Development Council’s Let East County Business Fund Revolving Loan Fund.
This fund is designed to close financing gaps for small businesses that are not yet eligible for traditional bank loans. To qualify, businesses must demonstrate viability, repayment potential, and a commitment to strengthening their local community.
Funding and Federal Match
The county's grant makes the development council eligible for an additional $400,000 in matching funds from the U.S. Economic Development Administration. Future federal funding opportunities may also be available. According to the county, these combined investments aim to expand access to capital, strengthen local job creation, and support long-term economic growth in East County.
Loan Details for Businesses
Through the revolving loan fund, small businesses can apply for loans ranging from $1,000 to $50,000. The funds can be used for equipment purchases, inventory, capital, and business expansion needs.
Steve Lockett, Deputy Director of the County of San Diego’s Office of Economic Development & Government Affairs, highlighted the fund's structure. "This fund will be very helpful to small businesses in East County and will allow them to grow and stabilize their operations and create local jobs," he said. Lockett noted that repaid loans are cycled back into the fund to support future borrowers.
Program Administration and Backing
District 4 Supervisor Monica Montgomery Steppe and District 2 Supervisor Joel Anderson proposed the grant to launch the loan fund. The County’s Office of Economic Development & Government Affairs (EDGA) will administer the funding.
This investment supports the county's broader Business Engagement and Strategic Training (BEST) Initiative. The BEST program helps small businesses handle government procurement, improve labor law compliance, and access administrative support. With approximately 98 percent of the region's businesses classified as small, the county states these efforts are important for long-term economic resilience.
The EDGA's role includes providing resources to help businesses start, grow, and thrive. Beyond the BEST initiative, the office manages other economic development investments and partnerships aimed at strengthening the local economy across San Diego County.
