Local businesses are facing severe unforeseen challenges due to the recent COVID-19 pandemic. The city would like to share the following resources to help during these challenging times.

Please keep checking the City’s website for updates as new resources become available.

CURRENT COVID-19 BUSINESS RESOURCES

Loan Opportunities

  • Paycheck Protection Program (PPP)

The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. Borrowers may be eligible for PPP loan forgiveness. For additional information about this orogram, please visit https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program

  • Economic Injury Disaster Loan (EIDL)

The Economic Injury Disaster Loan (EIDL) provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue. For additional information about this program, please visit https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/covid-19-economic-injury-disaster-loans

  • California Rebuilding Fund

A loan program to support California’s small businesses (especially those located in economically disadvantaged and historically under-banked areas of the state) that are flexible, transparent and are designed to help businesses access the capital and advisory services they need to get through these challenging economic times. For additional information about this program, please visit https://www.connect2capital.com/p/californiarebuildingfund/

  • SBA Express Bridge Loan

The SBA Express Bridge loan allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly providing vital economic support to small businesses to help overcome the temporary loss of revenue while applying for a direct SBA Economic Injury Disaster loan. For additional information about this program, please visit https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-express-bridge-loans

  • EDC Loan Program

Affordable capital can be accessed through the Economic Development Collaborative (EDC) Loan Program. Each applicant is paired with a EDC top tier financial advisors to ensure that you have the best access in reaching the capital you need. With five regional loan funds and low-interest rates, the EDC maintains a commitment to reaching underserved communities. For additional information about this program, please visit https://edcollaborative.com/edc-loan/

Grant Opportunities

CA Small Business COVID-19 Relief Grant Program

  • Lendistry with the CA Small Business COVID-19 Relief Grant Program will be opening 4 additional rounds of applications.

Round 3: For waitlisted applicants from Round 1 & 2 only. No new applications will be accepted. Selection notifications will start March 5, 2021.

Round 4: Accepting applications for non-profit arts and cultural institutions. Eligible non-profit cultural institutions must complete a new application even if they already applied in Rounds 1 and 2. Application window opens March 16, 2021 and closes March 23, 2021.

Round 5 & 6: Information coming soon.

To learn more about this program, please visit https://careliefgrant.com/

  • Shuttered Venue Operators Grant (SVOG) Program

SVOG offers grants for live venue operators, performing arts organizations, motion picture theater operators, cultural institutions and other eligible applicants. Funding can be used for specific expenses, such as payroll, rent, utilities and other costs. To learn more about this program, please visit https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/shuttered-venue-operators-grant

The SBA is NOT yet accepting SVOG applications. To receive a SVOG or access any federal government grants, your business will need to register for a free System for Award Management (SAM) number. Visit sam.gov to register to do business with the U.S. government or update/renew your entity registration. Do not register for a SAM number on any other website or pay for a SAM number.

Tax Credits

  • Employee Retention Tax Credit (ERTC)

The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted December 27, 2020, amended and extended the employee retention credit (and the availability of certain advance payments of the tax credits) under section 2301 of the CARES Act. To learn more about recent changes and how to access ERTC, please visit https://www.irs.gov/newsroom/new-law-extends-covid-tax-credit-for-employers-who-keep-workers-on-payroll

  • Worker Opportunity Tax Credit (WOTC)

The Work Opportunity Tax Credit is a Federal tax credit available to employers for hiring individuals from certain targeted groups who have consistently faced significant barriers to employment, including qualified long-term unemployment recipients. 

DEADLINE: The Consolidated Appropriation Act, 2021 authorized the extension of WOTC until December 31, 2025.

To learn more about this program, please visit https://www.irs.gov/businesses/small-businesses-self-employed/work-opportunity-tax-credit

  • Social Security Employee and Employer Portion Deferral

The payroll tax deferral period for social security tax began on March 27, 2020 and ended December 31, 2020.

DEADLINES: The deferred deposits of the employer’s share of Social Security tax must be deposited

On December 31, 2021, 50 percent of the eligible deferred amount; and on December 31, 2022, the remaining amount.

To learn more about this program, please visit https://www.irs.gov/newsroom/deferral-of-employment-tax-deposits-and-payments-through-december-31-2020

  • Sales and Use Tax Extension to File and Pay

Small businesses are encouraged to use the sale tax they have already collected to float any applicable obligations. To learn more about this program and for a full schedule of program tax due dates, please visit https://www.cdtfa.ca.gov/services/extensions-to-file.htm

Unemployment Benefits

  • Unemployment Insurance (UI) Benefits

Unemployment benefits are available for self-employed individuals and employees. If you have lost hours or wages due to the impact of COVID-19 apply for unemployment with the EDD. To apply for UI, please visit https://www.edd.ca.gov/unemployment/

  • Pandemic Additional Compensation

An additional $300 federal stimulus payment automatically added to each week of benefits received from December 27, 2020, through March 13, 2021 (11 weeks). The EDD will automatically add the federal unemployment compensations to each week of benefits that you are eligible to receive. Pandemic Additional Compensation is also known as the Federal Pandemic Unemployment Compensation (FPUC). To learn more about this program, please visit https://edd.ca.gov/About_EDD/coronavirus-2019/cares-act.htm#PAC

  • Pandemic Unemployment Assistance (PUA)

Provides unemployment benefits for people who don’t usually qualify for regular state Unemployment Insurance, including business owners, self-employed workers, independent contractors or those with a limited work history who are out of business or have significantly reduced their services as a direct result of the pandemic. To learn more about this program, please visit https://edd.ca.gov/about_edd/coronavirus-2019/pandemic-unemployment-assistance.htm

  • Pandemic Emergency Unemployment Compensation (PEUC)

PEUC is a benefit extension for people who have used all benefits available in their regular Unemployment Insurance claim. To learn more about this program, please visit https://edd.ca.gov/About_EDD/coronavirus-2019/cares-act.htm#PEUC