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Quick Resources & News
- City of Sacramento Small Business Recovery Program
- IBank: Small Business Disaster Relief Loans are available through California Infrastructure and Economic Development Bank or IBank. These loans are only available to those that did not receive a PPP or EIDL loan from the SBA. This disaster program provides guarantees for loans of up to $50,000 for small business borrowers and nonprofits, with low interest rates and 7-year terms. Apply directly with local lenders including California Capital Financial Development Corporation
- SBA Emergency Loans: Economic Injury Disaster Loan (EIDL), guidance for businesses and employers, government contracting, and local assistance information is available from the US Small Business Administration.
(Live agent to guide you through the process 1-800-659-2955)
NOTE: SBA has opened its Economic Injury Disaster Loan (EIDL) and EIDL Advance application portal to agricultural businesses. At this time, only agricultural business applications will be accepted due to funding availability and the unprecedented submission of applications already received. If you previously applied for EIDL assistance for your agricultural operation, you do not need to reapply. SBA is continuing to process all the existing EIDL applications on hand that were submitted through April 15.
Agricultural businesses includes those businesses engaged in the production of food and fiber, ranching, and raising of livestock, aquaculture, and all other farming and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)).
Agricultural businesses with 500 or fewer employees.
- CARES Act: A guide to the legislation’s provisions impacting small businesses.
- The Paycheck Protection Program launched on Friday, April 3. Businesses can go to a participating SBA 7(a) lender, bank, or credit union, to apply for a loan; expedited approval for these loans will also take place. A sample application is available below so you can prepare before contacting a lender. Learn more on this and other funding resources for employers.
- Sample PPP application from the SBA
- US Treasury Overview 1-sheet on PPP
- US Chamber of Commerce PPP Guide & Checklist for Small BusinessesAs of June 5, the President signed an amendment to the CARES Act that changes the terms of the PPP loans for the better. This includes:• Extends the period that recipients have to use the loan from eight weeks to 24 weeks.
• Reduces the percentage of a forgivable loan that must be put toward payroll to 60 percent from 75 percent. The other 40 percent of the loan can be used on things like mortgage interest, utilities and rent.
• Extends the amount of time small businesses have to pay back loans from two years to five, if they don’t qualify to have the loan forgiven.
Language of the bill is HERE.
- US Chamber H.R. 6201, the Families First Coronavirus Response Act
- Main Street Lending Program
Federal Reserve program FAQ HERE.
- Paycheck Protection Program
Businesses can go to a participating SBA 7(a) lender, bank, or credit union, to apply for a loan; expedited approval for these loans will also take place. A sample application is available below so you can prepare before contacting a lender. Learn more on this and other funding resources for employers.
- SBDC COVID-19 Toolkit
Guides to loan form applications, SBDC/SBA resources, FAQ.
- U.S. SBA Loans
- SBA Debt Relief for 7a, 504 and microloans
- Economic Disaster Loan Program: Applications now open to eligible agricultural businesses only. Low interest loans up to $2M for small businesses and nonprofits; up to a year deferral. Guidance for businesses and employers, government contracting, and local assistance information. Live agents are available to guide you through the process at 1-800-659-2955.
- Existing Disaster Loans: If you had an existing SBA Disaster Loan prior to COVID-19 (e.g. loan for fire declaration), you can now automatically defer your loan to the end of 2020.
- SBA Express Bridge Loans – Allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. Small businesses waiting on approval for a Disaster Loan may be able to access this Bridge Loan while waiting on a decision.
- Existing 7a SBA Loans: Borrowers may request deferral up to 3 months from their lender for those with a traditional 7a SBA Loan, with another possible extension to 6 months. The SBA has authorized lenders to take this action. Borrowers need to contact their lender to negotiate. Important: this is not an automatic deferral.
- US Chamber Guide to SBA Loans
- US Senate Committee on Small Business & Entrepreneurship: Small Business Owner Guide to CARES Act
- US Chamber Summary of CARES Act, Phase 3
- US Chamber of Commerce Foundation
Funding and resources from corporations on a national level.
- U.S. Department of Education and Federal Student Aid
FAQ on student loan debt relief
State of California Assistance
- California Disaster Relief Guarantee Program
$50 million in state funding, providing potential capital for individuals who do not qualify for federal funds, via iBank. Qualifying small business may directly apply with lenders (list available soon). español aquí
California Cannabis Equity Grants Program
Cannabis equity grant funding awarded to the City of Sacramento. Funding will be used as part of the CORE Program.
California IBank Small Business Loan Guarantee Program
Loans up to $1 million, and the JumpStart micro lending program provides loans up to $10,000 with accommodations for disasters. Access these programs through IBank’s Small Business Finance Center.
- California Treasurer’s Office’s California Capital Access Program
CalCAP offers a small business loan program with special disaster assistance provisions.
Privately Funded Financial Resources
- AmPac Business Capital
- Business For All Grants
- Capital Region Small Business Development Center
Resources and toolkits available online for business owners and operators.
- CDC Small Business Finance (a CAMEO Member)
Public, private, labor and nonprofit leaders throughout the Sacramento region have joined forces to raise both awareness of what we as a community are confronting and resources that will be dedicated to help vulnerable populations and small businesses.
- Fork 2 Farm Relief Fund
These grants are intended for restaurants and agricultural related vendors who seek to alleviate their debt in due and overdue invoices.
- Funding Circle
- Lift Investing: Emergency Investment & Relief Program
In partnership with local jurisdictions, this relief program is set up to deploy local emergency loans to businesses located within the boundaries of participating jurisdictions.
- Local Initiatives Support Corporation (LISC)
- Opportunity Fund
- Ready Capital
- Self-Help Credit Union
- Filing California Tax Returns
The California Department of Tax and Fee Administration (CDTFA) to offer a 90-day extension for tax returns and tax payments for all businesses filing a return for less than $1 million in taxes. That means small businesses will have until the end of July to file their first-quarter returns.
- California Franchise Tax Board
The Franchise Tax Board (FTB) announced updated special tax relief for all California taxpayers due to the COVID-19 pandemic. FTB is postponing until July 15 the filing and payment deadlines for all individuals and business entities for:
- 2019 tax returns
- 2019 tax return payments
- 2020 1st and 2nd quarter estimate payments
- 2020 LLC taxes and fees
- 2020 Non-wage withholding payments
- California EDD Taxpayer Assistance Center
Employers experiencing a 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 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.
- U.S. Treasury Department and Internal Revenue Service (IRS)
The U.S. Treasury Department and Internal Revenue Service (IRS) have issued guidance allowing all individual and other non-corporate tax filers to defer up to $1 million of federal income tax (including self-employment tax) payments due on April 15, 2020, until July 15, 2020, without penalties or interest. The guidance also allows corporate taxpayers a similar deferment of up to $10 million of federal income tax payments that would be due on April 15, 2020, until July 15, 2020, without penalties or interest. This guidance does not change the April 15 filing deadline.
- US Chamber’s Guide to Employee Retention Tax Credit