Coronavirus 2019 (COVID-19)

The California Small Business COVID-19 Relief Grant Program provides micro grants ranging from $5,000 to $25,000 to eligible small businesses and nonprofits impacted by COVID-19 and the related health and safety restrictions. Visit CAReliefGrant.com for program and application guides and to connect with a local partner. Round 1 applications closed on January 13, 2021. Round 2 applications will open February 2, 2021. Round 1 applicants who do not receive funds do not need to apply again as they will automatically be entered in Round 2.

On November 30, 2020, Governor Newsom and the State Legislature announced the allocation of $500 million to the Program to be administered by the California Office of the Small Business Advocate (CalOSBA) at the Governor’s Office of Business and Economic Development. Lendistry has been designated by the state to act as the intermediary for the Program to disburse the grant funds.

• U.S. SBA Paycheck Protection Program (PPP): The Paycheck Protection Program (PPP) closed on August 8, 2020, as current law dictates. As such, SBA is no longer accepting PPP applications from participating lenders. If your business received a PPP loan, once your business is ready to pursue loan forgiveness, after funds have been expended, please review the Loan Forgiveness Application and consult with one of our centers, or your accountant, for assistance. Visit this webpage for loan forgiveness application instructions for borrowers, including instructions on what must be submitted to the lender directly.
• Covid-19 Economic Injury Disaster Loan (EIDL): On June 15, SBA resumed accepting new Economic Injury Disaster Loan (EIDL) applications from all qualified small businesses, including agricultural businesses, and non-profit organizations. Agricultural businesses are those “businesses engaged in the production of food and fiber, ranching, and raising of livestock, aquaculture, and all other farming and agricultural related industries.” The EIDL program is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to COVID-19. EIDL proceeds can be used to cover a wide array of working capital and normal operating expenses, such as continuation to health care benefits, rent, utilities, and fixed debt payments. Read more HERE.
  EIDL is a direct loan for up to $2 million at a rate of 3.75% for small businesses and 2.75% for nonprofits. You must apply directly with the SBA, HERE. SBA Customer Service Line: 1-800-659-2955 / 1-800-877-8339 (TTY), or by email, HERE.
• Civil Unrest Disaster Assistance: Low-interest federal disaster loans are available to California businesses affected by civil unrest that began May 26, 2020. The deadline to apply for property damage (repair or replace destroyed real estate, machinery and equipment, inventory and other business assets) has closed, as of August 17, 2020. However, the U.S. SBA can also lend additional funds to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future. For small businesses, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage. The deadline to apply for economic injury is March 17, 2021. Apply directly with the SBA HERE.
  Applicants may also contact SBA support personnel at the Virtual Disaster Loan Outreach Center. These services are only available for the California disaster declaration as a result of civil unrest that began May 26, 2020, and not for COVID-19 related assistance. Mondays – Fridays: 8 a.m. – 4:30 p.m.; Email the SBA HERE; Telephone: (916) 735-1500.
• Small Business Debt Relief – if you are a current borrower under SBA 7(a), 504 loan program or a microloan, you are eligible for debt relief and SBA will cover all loan payments for 6 months. Click HERE for more information.
• For helpful FAQs, click HERE.

• The State of California is allocating $50 million to the Small Business Finance Center at California’s IBank to mitigate barriers to capital for those small businesses (1-750 employees) that may not qualify for federal funds (including businesses in low-wealth and immigrant communities). The $50 million allocation will be used to recapitalize the IBank Small Business Loan Guarantee Program.
  • Disaster Relief Loan Guarantee Program: This disaster program provides guarantees for loans of up to $50,000 for small business borrowers in declared disaster areas.
• To contact IBank use email found HERE

• CalCAP is a loan loss reserve program which may provide up to 100% coverage on losses as a result of certain loan defaults. Individual borrowers are limited to a maximum of $2.5 million enrolled over a 3-year period. Contact a Participating Lender to enroll.
• To contact the California State Treasurer’s Office:
  • Email CalCAP: HERE
  • Call: Call: 1-916-653-2995

• California’s network of small business centers help businesses figure out which loans are best for them, develop resiliency strategies, and find other resources. Click here to find the center nearest you.
• If you need to talk to a specialist in GO-Biz’s Office of the Small Business Advocate directly, please contact the team.

• The California Entrepreneurship Task Force has launched a series of Rapid Response Virtual Sessions to engage with fellow small business owners and entrepreneurs across our state. More details HERE.

• Connect with advisors in your local community through our partner centers.
• Get started and determine which financial relief program you may be eligible for through the U.S. Digital Response free tool, here.
• Find out about training and other inspirational resources at California Entrepreneurship Task Force member Nely Galán’s Becoming Self Made site.
• Click here for a list of free or discounted technology tools for small businesses.
• Hello Alice has a dedicated site of public, private, state and national resources at Covid19BusinessCenter.com, including emergency $10,000 grants and a community to help you. For a growth and resiliency grant, click on Business For All here.
• Explore crowd-funded 0% interest loans of up to $15,000, and access a grace period of up to 6 months for greater financial flexibility, check out Kiva.
• Check Venturize.org to get Small Business Majority’s daily updates on funding opportunities, policy developments and educational webinars.
• Visit a virtual office hour with California Small Enterprise Task Force (CASE Force) to access live support from lawyers and financial professionals to locate resources for small businesses.
• Bet Tzedek offers small business owners in Los Angeles free legal assistance to address problems caused by the COVID-19 pandemic.