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COVID-19 California Small Business Funding Resources

COVID-19 California Small Business Funding Resources

COVID-19 California Small Business Funding Resources

 
 
COVID-19 California Small Business 
Funding Resources 

SBA COVID-19 Resources
 
 
Paycheck Protection Programresumed January 11, 2021 at 6am (9am ET)
 
SBA, in consultation with the U.S. Treasury Department, opened the Paycheck Protection Program loan portal today, Monday, January 11, 2021 at 9 am ET. 
 
It will initially accept First Draw PPP loan applications from participating CFIs, which include Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), and Microloan Intermediaries.
FQA on Loan Forgiveness
PPP First Draw Borrower Application Form
PPP Second Draw Borrower Application Form
 
 
The deadline to apply for the EIDL program is extended to Dec. 31, 2021, pending the availability of funds.
 
On June 15, 2020 SBA resumed accepting new Economic Injury Disaster Loan (EIDL) applications from all eligible small businesses, private non-profits and U.S. agricultural businesses. 
 
To learn more about eligibility and apply, click here.
 
If you have already applied via the streamlined application, please do not resubmit your application.
FAQ
EIDL Application
 
 
 
Allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on an Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.
 
Terms
  • Up to $25,000
  • Fast turnaround
  • Will be repaid in full or in part by proceeds from the EIDL loan
Learn More
Express Bridge Loan Application
 
 
Learn More
CA Small Business Relief Grant
 
ROUND 1
 
  • Application Opens December 30, 2020 at 6:00 AM PST
  • Application Closes January 13, 2021 at 11:59 PM PST
 
  • Update and upload documents for in-process applications: January 6, 2021 – January 13, 2021 at 11:59 PM PST
  • Start of Approval Notifications January 15, 2021 
 
Necessary documents :
 
  •  Application Certification: Signed certification used to certify your business
  • Business Financial Information:
  • Most recent tax return filed (2019 or 2018) – provided in an electronic form for online upload, such as PDF/JPEG or other approved upload format.
  • Copy of official filing with the California Secretary of State, if applicable, or local municipality for the business such as one of the following: Articles of Incorporation, Certificate of Organization, Fictitious Name of Registration or Government-Issued Business License.
  • Government Issued Photo ID: Such as a Driver’s License or Passport
 
One complete application will qualify you to be considered for both rounds, please only apply once.
 
Applying through multiple organizations will delay your application from being processed.
 
Owners of multiple businesses, franchises, locations, etc. will be considered for only one grant and are required to apply for the business with the highest revenue.
FAQ
Find a SLO County Partner
SBDC Stimulus Package Update
 
Top Issues
  • New tax treatment of PPP expenses
  • New round of PPP, program updates and changes
  • Grants for EIDL advances and other changes 
  • Extended SBA Debt Relief and Programing
  • Extension and Expansion of the Employee Retention Tax Credit (ERTC)
  • Unemployment Assistance
Learn More

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