SBA LOAN FAQ'S
Click below for frequently asked questions about the Small Business Administration's COVID-19 loan programs.
- SBA Loan FAQ's
- To complete the Paycheck Protection Program application, click HERE. For a list of SBA approved lenders to submit you application to, click HERE.
- To apply for an Economic Injury Disaster Loan, click HERE.
RESOURCES FOR EMPLOYERS
Instructions on how small businesses or nonprofits can apply for the Paycheck Protection Program have been posted on the U.S. Small Business Administration website. The U.S. Treasury Secretary stated the loans will be available starting Friday, April 3rd and may be disbursed the same day. I encourage businesses affected by COVID-19 to apply. The loans are retroactive to February 15th and can be forgiven if you retain and/or re-hire laid off employees. Please share with local businesses you frequent.
- Paycheck Protection Program: Overview PDF
- Paycheck Protection Program: Application PDF
- Paycheck Protection Program: Borrower Information PDF
- Paycheck Protection Program: Lender Information PDF
As part of the Trump Administration's efforts to combat the effects of COVID-19 on small businesses, the Economic Injury Disaster Loan program has been made available statewide, including nonprofits. The application is open and I encourage affected businesses to apply.
Today, the Governor announced a Bridge Loan program, where small businesses can keep and use up to $50,000 in sales tax as a loan and can pay the State back in one year with no fines, penalties or interest.
An executive order signed March 30th will provide tax, regulatory and licensing extensions for businesses throughout California. The order allows for businesses with a filing less than $1 million a 90-day extension on state and local taxes, including sales tax. It will also provide extensions on licensing deadlines and requirements for several industries. To view the full list of extensions download the linked PDF below.
Through the EDD, employers experiencing hardship as a result of COVID-19 may request up to a 60-day extension to file their state payroll reports and/or deposit state payroll taxes without penalty or interest. As an alternative to layoffs, employers experiencing a slowdown in their businesses or services can apply for the Unemployment Insurance (UI) Work Sharing Program, which may help you keep your employees by allowing workers to receive a percentage of their UI benefits based on reduced hours.
- Employment Development Department: Work Sharing Program
- Employment Development Department: Tax Assistance
Additional Employer Resources:
- California’s Labor & Workforce Development Agency, Resources For Employers And Workers
- CalOSHA Guidance On Requirements To Protect Workers From COVID 19
- National Small Business Association, Resources For Small Business On COVID-19
- Governor's Office Of Business And Economic Development (GO-Biz)
RESOURCES FOR EMPLOYEES
Employees who are sick, caring for the sick, or have reduced work hours may qualify for assistance through the EDD. Those who are self-employed and pay into CASDI may qualify as well. To learn how to apply, please visit the EDD's Website. If you're having trouble applying, please contact my district office.
BUSINESS
California’s Labor & Workforce Development Agency, Resources For Employers And Workers
CalOSHA Guidance On Requirements To Protect Workers From COVID 19
National Small Business Association, Resources For Small Business On COVID-19
Governor's Office Of Business And Economic Development (GO-Biz)
CHILDCARE
Childcare for Essential Workers
EDUCATION
California Department Of Education
INTERNET SAFETY
Protecting children when they are online – preparing them for journeys on the Internet, and the challenges they will find there - is everyone's responsibility.
HEALTHCARE
California Department Of Public Health
Centers For Disease Control And Prevention
HOUSING
California Tenant and Landlord Resources
JOBS
Jobs, Economic Development And The Economy
Labor And Workforce Development Agency
Dealing with COVID-19 Economic Hardships
MENTAL HEALTH
National Alliance On Mental Illness HelpLine
National Domestic Violence Hotline
National Suicide Prevention Lifeline
Substance Abuse And Mental Health Services Disaster Distress Helpline
DOMESTIC VIOLENCE RESOURCES
The coronavirus (COVID-19) outbreak is changing life for all of us. You may feel anxious, stressed, worried, sad, bored, depressed, lonely or frustrated in these circumstances.
You’re not alone.
TAXES
VETERANS RESOURCES