Coronavirus 2019 (COVID-19) | Business Resources
California’s Small Business Covid-19 Relief Grant Program is offering eligible California businesses and nonprofits grants of $5,000 – $25,000! Applicants can start uploading documents on 01/06. Deadline extended to 01/13. Learn more at www.CAReliefGrant.com. #CAReliefGrant
Here is a listing of State and Federal Resources. Please continue to check these resources that capture the State’s current guidance as it is continuing to evolve.
- All official public health information can be found at the California Department of Public Health: https://www.cdph.ca.gov/
- The latest news on business assistance can be found on GO-Biz’s website: https://business.ca.gov/coronavirus-2019/
- Employers and employees can find resources here: https://www.labor.ca.gov/coronavirus2019/
LATEST SBA UPDATES
SBA and Treasury Announce Simpler PPP
Forgiveness for Loans of $50,000 or Less
WASHINGTON—The U.S. Small Business Administration, in consultation with the Treasury Department, today released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.
“The PPP has provided 5.2 million loans worth $525 billion to American small businesses, providing critical economic relief and supporting more than 51 million jobs,” said Secretary Steven T. Mnuchin. “Today’s action streamlines the forgiveness process for PPP borrowers with loans of $50,000 or less and thousands of PPP lenders who worked around the clock to process loans quickly,” he continued. “We are committed to making the PPP forgiveness process as simple as possible while also protecting against fraud and misuse of funds. We continue to favor additional legislation to further simplify the forgiveness process.”
“Nothing will stop the Trump Administration from supporting great American businesses and our great American workers. The Paycheck Protection Program has been an overwhelming success and served as a historic lifeline to America’s hurting small businesses and tens of millions of workers. The new form introduced today demonstrates our relentless commitment to using every tool in our toolbelt to help small businesses and the banks that have participated in this program,” said Administrator Jovita Carranza. “We are continuing to ensure that small businesses are supported as they recover.”
SBA and Treasury have also eased the burden on PPP lenders, allowing lenders to process forgiveness applications more swiftly.
SBA began approving PPP forgiveness applications and remitting forgiveness payments to PPP lenders for PPP borrowers on October 2, 2020. SBA will continue to process all PPP forgiveness applications in an expeditious manner.
Click here to view the simpler loan forgiveness application.
Click here to view the instructions for completing the simpler loan forgiveness application.
Click here to view the Interim Final Rule on the simpler forgiveness process for loans of $50,000 or less.
Small Business Development Centers
Small business owners and aspiring entrepreneurs can go to their local SBDCs for free face-to-face business consulting and at-cost training, on topics including business planning, accessing capital, marketing, regulatory compliance, technology development, international trade and much more.
The SBDC COVID-19 Resource Page – https://americassbdc.org/coronavirus-information/
A guide to your local Women’s Business Center, https://www.sba.gov/local-assistance/find/?type=Women%27s%20Business%20Center&pageNumber=1
More from the SBA (Small Business Administration)
We know you are facing challenging times in this current health crisis. The U.S. Small Business Administration is committed to help bring relief to small businesses and nonprofit organizations suffering because of the Coronavirus (COVID-19) pandemic.
On March 27, 2020, President Trump signed into law the CARES Act, which provided additional assistance for small business owners and non-profits, including the opportunity to get up to a $10,000 Advance on an Economic Injury Disaster Loan (EIDL). This Advance may be available even if your EIDL application was declined or is still pending, and will be forgiven.
If you wish to apply for the Advance on your EIDL, please visit www.SBA.gov/Disaster as soon as possible to fill out a new, streamlined application. In order to qualify for the Advance, you need to submit this new application even if you previously submitted an EIDL application. Applying for the Advance will not impact the status or slow your existing application.
Also, we encourage you to subscribe to our email updates via www.SBA.gov/Updates and follow us on Twitter at @SBAgov for the latest news on available SBA resources and services. If you need additional assistance, you can find your local SBA office and resource partners at www.SBA.gov/LocalAssistance. If you have questions, you may also call 1-800-659-2955.
Additional Federal and State Government Resources:
- The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).
- The Export-Import Bank of the United States (EXIM) is announcing relief provisions for exporters and financial institutions located throughout the United States that may have been affected by COVID-19 (Coronavirus).
- GO-Biz main COVID-19 resource webpage with links to the IBank, Small Business Advocate, State Treasurer, Labor and Workforce Agency, Franchise Tax Board, and Department of Tax and Fee Management.
- The California Office of the Small Business Advocate is available to help businesses identify resources and obtain answers to critical questions (to the extent known).
- At California’s Small Business Finance Center, small businesses can access a range of financial products, including loan guarantees and direct loans.
- California IBank: Small Business Finance Center
- California Treasurers Office: CalCAP
- EDD: Work Sharing Program
- Summary chart with links to benefits available to workers: https://www.labor.ca.gov/coronavirus2019/#chart
- Labor and Workforce Development Agency’s primary website for COVID-19, including information on support services for workers and interim guidelines for protecting workers: https://www.labor.ca.gov/coronavirus2019/
Employers experiencing hardship as a result of COVID-19 may request up to a 60-day extension of time from the EDD to file their state payroll reports and/or deposit state payroll taxes without penalty or interest. A written request for an extension must be received within 60 days from the original delinquent date of the payment or return. For questions, employers may call the EDD Taxpayer Assistance Center.
FROM SOUTHERN CALIFORNIA EDISON
Customer Resources https://www.sce.com/safety/coronavirus