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Small Business Resources

March 25, 2020

Federal U.S. Small Business Administration (SBA) Disaster Loan Program https://www.sba.gov/funding-programs/disaster-assistance SBA disaster assistance is now available to all counties within the state of California and the neighboring counties below.  Neighboring Arizona counties: La Paz, Mohave and Yuma; Neighboring Nevada counties: Clark, Douglas, Esmeralda, Lyon, Mineral, Nye and Washoe;

Neighboring Oregon counties: Curry, Jackson, Josephine, Klamath and Lake Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship. disastercustomerservice@sba.gov (800) 659-2955

Federal U.S. Small Business Administration (SBA) Economic Injury Disaster Loans https://disasterloan.sba.gov/ela/Information/EIDLLoans Available to businesses directly affected by the disaster, offer services directly related to the businesses targeted in the emergency declaration, other business indirectly related to the industry that are likely harmed by losses in their community. This will help meet capital needs caused by the declared disaster and help pay financial obligations and operating expenses had the disaster not occurred. EIDL does not replace lost revenue, profits or fund expansions. Loans limited to $2m, less business interruption insurance and other recoveries. Requires collateral. Apply online. (800) 659-2955 disastercustomerservice@sba.gov 1-800-659-2955

Federal Center for Disease Control and Prevention (CDC) Interim Guidance for Businesses and Employers: Plan, Prepare and Respond to Coronavirus Disease 2019 https://www.cdc.gov/coronavirus/2019-ncov/community/guidance-business-response.html This interim guidance is based on what is currently known about the coronavirus disease 2019 (COVID-19). The Centers for Disease Control and Prevention (CDC) will update this interim guidance as needed and as additional information becomes available.

Federal Cal/Osha Cal/OSHA Guidance on Requirements to Protect Workers from Coronavirus https://www.dir.ca.gov/dosh/coronavirus/Health-Care-General-Industry.html Workplace safety and health regulations in California require employers to protect workers exposed to airborne infectious diseases such as the coronavirus. Cal/OSHA has posted guidance to help employers comply with these safety requirements and to provide workers information on how to protect themselves.

Federal FEMA www.disasterassistance.gov/ Businesses can being applying for FEMA Disaster Assistance while we await a disaster declaration to release these funds. Information about the program and how to apply can be found here: Federal The United States Small Business Administration Economic Injury Disaster Loans for Small Businesses and Nonprofits  https://disasterloan.sba.gov/ela The United States Small Business Administration (SBA) offers low interest loans up to $2 million for small businesses, nonprofits of any size, small agricultural cooperatives, and small aquaculture enterprises. The interest rate is 3.75% for small businesses. The interest rate for private non-profit organizations is 2.75%. Loan repayment terms can last as long as 30 years.

However, as of March 17th, these loans are only available to businesses in the following counties: Alameda, Alpine, Amador, Calaveras, Contra Costa, El Dorado, Imperial, Kern, Lake, Los Angeles, Madera, Marin, Mariposa, Mendocino, Merced, Mono, Napa, Orange, Placer, Riverside, Sacramento, San Bernardino, San Diego, San Francisco, San Joaquin, San Mateo, Santa Clara, Santa Cruz, Solano, Sonoma, Stanislaus, Sutter, Tuolumne, Ventura, and Yolo. If your county is not on the list, please visit the SBA’s website to confirm it has not been updated and then contact your county directly.

The deadline to apply for an Economic Injury Disaster Loan is Dec. 16, 2020. Federal IRS Federal Income Tax Payment Extension https://www.irs.gov/newsroom/payment-deadline-extended-to-july-15-2020 The IRS is providing an extension for payment only; returns must still be filed timely by April 15, 2020. For those who can’t file by the April 15, 2020 deadline, the IRS reminds individual taxpayers that everyone is eligible to request a six-month extension to file their return.

For individuals, income tax payment deadlines for individual returns, with a due date of April 15, 2020, are being automatically extended until July 15, 2020, for up to $1 million of their 2019 tax due. This payment relief applies to all individual returns, including self-employed individuals, and all entities other than C-Corporations, such as trusts or estates. IRS will automatically provide this relief to taxpayers. Taxpayers do not need to file any additional forms or call the IRS to qualify for this relief.  For C Corporations, income tax payment deadlines are being automatically extended until July 15, 2020, for up to $10 million of their 2019 tax due. 866-255-0654 800-829-4933

Federal To be announced H.R. 6201 (Families First Coronavirus Response Act) To be announced Benefits for Employees Normal FMLA is unpaid, but under the FFCRA, employees who are on sick leave because they are sick can receive their full pay, up to $511 per day, or $5,110 total.  Leave taken to care for children whose schools or day care facilities have closed is paid at two-thirds the employee’s regular rate of pay, with a maximum of $200 per day or $10,000 total. Employers cannot force you to use up your vacation or other sick time before receiving this benefit. There is a 10-day waiting period before this benefit applies. Employees can use existing sick or vacation time to cover these days.

Benefits for Employers. Employers receive tax credits for 100 percent of what they pay out to employees, with the above-noted limits.  For employers with 50 or fewer employees, the Secretary of Labor can exempt the business from these requirements. Employers with fewer than 25 employees do not have to restore employees to their previous positions.

Nonprofit Pacific Community Ventures Small Business Resources for COVID- https://www.pacificcommunityventures.org/2020/03/16/small-business-resources-for-covid-19/ Collection of resources to help small business owners and workers during this crisis. We know that the effects this crisis is having on small businesses can’t be overstated, and we’re here for our community both now and in the coming months as we continue to feel the effects on our small business community.

Nonprofit Venturize https://venturize.org Venturize is a free online resource hub for small business owners who need help accessing tools and resources to grow their businesses. Managed by the nonprofit organization Small Business Majority, Venturize offers unbiased education and resources about small business loans, retirement and healthcare to empower entrepreneurs to make the best financial decisions for their business. We also help small businesses get connected to trusted providers that can help their enterprises grow.

Nonprofit Opportunity Fund https://www.opportunityfund.org Opportunity Fund is a US-based nonprofit organization that provides financing to underserved small-business owners.

PrivateFacebook Facebook Small Business Grants Program https://www.facebook.com/business/boost/grant We know that your business may be experiencing disruptions resulting from the global outbreak of COVID-19. We’ve heard that a little financial support can go a long way, so we are offering $100M in cash grants and ad credits to help during this challenging time. We’ll begin taking applications in the coming weeks. In the meantime, you can sign up to receive more information when it becomes available.

Private Citi Bank https://online.citi.com/US/JRS/pands/detail.do?ID=covid19 Effective Monday, March 9, 2020 for an initial thirty days 

Office of Small & Disadvantaged Business Utilization information page VETS First Verification Program 

The Vets First Verification Program affords verified firms owned and controlled by Veterans and Service-disabled Veterans the opportunity to compete for VA set asides. https://www.va.gov/osdbu/verification/

Veterans Business Services offers tools, techniques and opportunities to further their entrepreneurial dreams.    

 https://www.veteransbusinessservices.us/

Coronavirus (COVID-19): Small Business Guidance & Loan Resources

https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

San Francisco COVID-19 Small Business Resiliency Fund  Businesses with between one and five employees can apply for up to $10,000 in emergency funding to help cover rent and employee salaries. 

https://oewd.org/covid-19-small-business-resiliency-fund

City of Los Angeles Small Business Emergency Microloan Program

 https://ewddlacity.com/index.php/microloan-program

Facebook Small Business Grants Program   Facebook has committed to offering up to 30,000 small businesses $100 million in cash grants and Facebook advertising credits.

https://www.facebook.com/business/boost/grant

Small Business Relief Initiative was started by GoFundMe to help small businesses that have been affected by the COVID-19 pandemic and empower their communities to rally behind them.

https://www.gofundme.com/c/small-business-relief-initiative-and-fund-faqs

Center for Cultural Innovation  https://www.cciarts.org/ 

Emergency Resources for Artists and Freelancers, Quick Grant, and Cali Accelerator Program.  

Hootsuite, the social media management platform, is offering free access to its professional plan through July 1.

https://hootsuite.com/pages/stay-connected

Kabbage.com has a resource page of Grants for Veterans Starting a Business…

https://www.kabbage.com/resource-center/finance/grants-for-veterans-starting-a-business

Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE)

https://vwise.vets.syr.edu/

The Main Street Emergency Grant Program, proposed by U.S. Senators Chris Murphy (D-Conn.), Jeff Merkley (D-Ore.) and Chris Van Hollen (D-Md.), would allow small businesses to apply and receive grants quickly through the Treasury Department.

State/Local Government: 

Atlanta: The Atlanta City Council approved Mayor Keisha Lance Bottoms’ call for a $7 million coronavirus emergency fund that will allocate $1.5 million to small businesses.

Birmingham: The Birmingham Strong Emergency Loan Fund is providing zero-interest, 180-day loans up to $25,000 to small businesses with less than 50 employees.

Chicago: Mayor Lori Lightfoot revealed a $100 million Chicago Small Business Resiliency Loan Fund that will provide low-interest loans to the city’s struggling small businesses.

Denver: The city’s business owners can apply for cash grants up to $7,500 as part of Denver Economic Development and Opportunity’s emergency relief program. Denver Mayor Michael Hancock also announced the creation of a $4 million small business relief fund.

Florida: The Florida Small Business Emergency Bridge Loan Program is providing loans up to $50,000 with one-year terms to small businesses with 2 to 100 employees.

Iowa: Governor Kim Reynolds announced the creation of an Iowa Small Business Relief Program that will allocate grants ranging from $5,000 to $25,000, as well as tax deferrals.

Los Angeles: The city’s Small Business Emergency Microloan Program is offering loans ranging from $5,000 to $20,000 with 0% to 3% interest rates.

Maryland: The state’s Department of Commerce released two initiatives for small businesses: a $50 million Emergency Relief Grant Fund that offers grant amounts up to $10,000 and a $75 million Emergency Relief Loan Fund that will provide businesses with 50 or fewer employees loans up to $50,000.

Massachusetts: Governor Charlie Baker announced a $10 million relief fund for Massachusetts businesses affected by the coronavirus. Funds up to $75,000 are immediately available for companies with fewer than 50 full- and part-time employees.

Michigan: The Michigan Economic Development Corp. received approval to implement a Michigan Small Business Relief Program that will allocate $10 million in small business grants and $10 million in small business loans to local business owners.

Minnesota: The state’s Department of Employment and Economic Development will be providing interest-free emergency loans ranging from $2,500 to $35,000 to Minnesota-based businesses in need.

New Mexico: The New Mexico Economic Development Department created the COVID-19 Business Loan Guarantee Program to aid small businesses seeking emergency loans or lines of credit. The program can guarantee a portion of a loan or line of credit up to 80% of principal or $50,000.

New York City: The NYC Small Business Services is offering businesses with fewer than five employees grants to cover 40% of payroll costs for two months. Businesses with fewer than 100 employees and sales decreases of 25% or more will be eligible for zero-interest loans up to $75,000.

Philadelphia: The city’s COVID-19 Small Business Relief Fund is providing immediate relief to local small businesses in the form of grants and zero-interest loans.

Portland: Small businesses located in Portland’s Jade District or Old Town Chinatown are eligible to receive support through the city’s $190,000 emergency fund. Asian and Pacific Islander business owners will be prioritized.

Rhode Island: Governor Gina Raimondo partnered with Microsoft to provide Web-based Microsoft Office applications to Rhode Island small businesses for free for six months.

Sacramento: The city established a $1 million economic relief fund for businesses that provides 0% interest loans up to $25,000 per business.

Salt Lake City: Business owners based in the area can apply for 0% interest loans up to $20,000 as part of the city’s emergency loan program.

San Francisco: Small businesses with fewer than five employees are eligible to receive up to $10,000 for staff salaries and rent.

Seattle: The city’s Office of Economic Development is providing $1.5 million in grants up to $10,000 to small businesses. The mayor is also deferring tax payments for business-owner candidates and will set up a small-business recovery task force.

Syracuse: The Syracuse Economic Development Corp. created a $500,000 fund to provide 0%-interest, 180-day emergency loans up to $25,000 to the city’s small businesses.

WisconsinThe Wisconsin Economic Development Corp. launched Small Business 20/20—a $5 million grant program that will give companies with fewer than 20 employees up to $20,000.

Private/Nonprofit Companies: 

Amazon announced a $5 million Neighborhood Small Business Relief Fund to provide cash grants to local Seattle small businesses. From March 26 to April 30, Amazon Lending is also pausing repayment from sellers who have outstanding loans, and seller loans will not accrue interest during this time period.

Bacardi has pledged $3 million in relief to bars and restaurants affected by the COVID-19 shutdowns as part of its #RaiseYourSpirits campaign.

Facebook announced a $100 million grant for small businesses impacted by COVID-19 and launched the Business Resource Hub, which features recommendations to help small businesses stay connected to customers and stay on track.

Fattmerchant, a payment technology provider, has partnered with Gift Up! to allow its clients to sell virtual gift cards. Gift Up! is waiving its usual 3.49% fee for Fattmerchant’s members’ first $5,000 in gift card sales.

GoFundMe has partnered with Yelp to allow independent businesses to start fundraisers and accept donations through Yelp’s pages. The Yelp Foundation and GoFundMe also both pledged to donate up to $1 million to the GoFundMe.org Small Business Relief Fund.

James Beard Foundation started a Food and Beverage Industry Relief Fund to provide microgrants to independent food and beverage small businesses in need.

JPMorgan pledged $50 million to help struggling customers, and $8 million in aid to small businesses, specifically.

Kabbage launched an online hub to help boost sales for U.S small businesses impacted by COVID-19, including a system through which businesses can sell gift cards to consumers for use at a later date.

Kangaroo wants to support business owners who are unable to be physically present at their offices: The security startup is offering free (for three months) security camera and monitoring kits.

Kiva is urging small businesses to apply for 0% interest loans for up to $15,000. The company is also offering a longer grace period: New borrowers can access a grace period of up to six months.

MainVest, a crowdfunding platform, announced its new Main Street Initiative: a $2,000, 0% interest, 120-day loan for restaurants or other brick-and-mortars affected by the shutdown, in addition to its normal fundraising offerings.

Mark Cuban Cos. will reimburse employees for any lunch or coffee purchases from local independent small businesses.

Opportunity Fund, which specializes in money lending to small businesses owned by women, immigrants and people of color, is collaborating with investors and nonprofits to put together a coronavirus relief fund that will provide grants and low-interest-rate loans to business owners in need.

Ring announced its Neighbor Pledge initiative, which encourages individuals and groups to create pledge groups to support local businesses.

Seated launched a hotline for restaurant owners to get advice from finance and law experts in the hospitality industry.

The Restaurant Workers’ Community Foundation formed a COVID-19 Emergency Relief Fund for small businesses and their restaurant workers, and is accepting donations.

Wefunder, an investment crowdfunding platform, launched a Coronavirus Crisis Loans program enabling small businesses to crowdfund loans of $20,000 to $1 million from supporters.

Yelp CEO Jeremy Stoppelman announced the company is providing $25 million in coronavirus relief for independent restaurant and nightlife businesses in the form of waived advertising fees, and free advertising, products and services.