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California and Federal Government Providing New Assistance for Businesses Impacted by COVID-19

Both the State of California and the federal government have begun providing broad assistance to small businesses and employers impacted by COVID-19.

This assistance includes:

  • Tax relief, including deferrals and credits
  • Providing capital to the California Rebuilding Fund to support small business loans
  • $50 million in state funding for the Small Business Disaster Relief Loan Guarantee Program and $50 million for the Small Business Loan Guarantee Program via IBank to provide loans to underserved small businesses
  • Small Business Debt Relief for existing Small Business Administration (SBA) borrowers
  • Federal small business stimulus programs like Paycheck Protection Program and Economic Injury Disaster Loans
  • State-supported small business centers that provide direct assistance from a local advisor
  • Authorization for local governments to halt evictions for commercial renters

Small business relief grant

The California Office of the Small Business Advocate will soon begin accepting applications for the Small Business COVID-19 Relief Grant from small businesses impacted by COVID-19. This relief includes $500 million in grants. Learn more and sign up to receive updates while the program is being created.

Other help for small businesses
California has additional resources for small businesses impacted by COVID-19:

Resources and services for small businesses collected by the Governor’s Office of Business and Economic Development

Tax relief and extensions from the Department of Tax and Fee Administration

Labor and workforce support for businesses

Employer policies and resources

As California reopens, every business will need to create a safer, low-risk environment. If you own or manage a business, follow the employer playbook to help plan and prepare your business for reopening. And follow the industry-specific guidance that applies to your business to protect your workers and customers.

As workplaces reopen, employees will need both childcare support and workplace flexibility. It’s also important that employees with COVID-19 know they should stay home. Your sick leave policies need to support that. See more information on:

Financial assistance
Federal programs
The U.S. Small Business Administration is accepting new applications to the Economic Injury Disaster Loan (EIDL) from all eligible businesses. Visit U.S. SBA’s Disaster Loan Applications website for more information. The U.S. SBA will continue to process EIDL Loan applications already submitted on a first-come, first-served basis.

Small businesses may get reimbursed for paid leave costs related to COVID-19. This funding is available for businesses with fewer than 500 employees. Employers can receive a credit for wages paid for such leave between April 1 and December 31, 2020. Visit Paid Leave under the Families First Coronavirus Response Act (FFCRA) for more information. Also check frequently asked questions about tax credit reimbursement for paid leave.

Jeremy Couso
Jeremy Couso
SusanvilleStuff.com Publisher/Editor
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