Financing

  • Closed 1280

Loans

  • SBA-Logo-120x120The U.S. Small Business Administration has just announced the availability of low-interest federal disaster loans (up to $2 Million) for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
  • IBank-Logo-120x120California Small Business Disaster Relief Loan Guarantee Program (via IBank). $50 million in state funding, providing potential capital for individuals who may not qualify for federal funds.
  • CalCAP-Logo-120x120The California Capital Access Program (CalCAP) for Small Business encourages banks and other financial institutions to make loans to small businesses that have difficulty obtaining financing. If you own a small business and need a loan for start-up, expansion or working capital, you may eligible for this program. CalCAP is a loan loss reserve program which may provide up to 100% coverage on losses as a result of certain loan defaults. Loans are available up to $5 million.
  • US-Treasury-Logo-120x120The U.S. Department of the Treasury and Federal Reserve Board Announce New and Expanded Lending Programs to Provide Up To $2.3 Trillion in Financing: On Thursday, April 9, Treasury launched a Main Street Business Lending program and a Municipal Liquidity Facility to support the flow of credit to American workers, businesses, states, counties, and cities impacted by the coronavirus pandemic. The Municipal Liquidity Facility (MLF) will provide up to $500 billion in direct financing to states, counties, and cities to help ensure they have the funds necessary to provide essential services to citizens and respond to the coronavirus pandemic. More here. MLF term sheet and guidance can be found here.

Disaster Funding

  • Fema-Logo-120x120Businesses can begin applying for FEMA Disaster Assistance while we await a disaster declaration to release these funds.

Grants

  • James Beard Foundation started a Food and Beverage Industry Relief Fund to provide micro-grants to independent food and beverage small businesses in need.
  • Yelp CEO Jeremy Stoppelman announced the company is providing $25 million in coronavirus relief for independent restaurant and nightlife businesses in the form of waived advertising fees, and free advertising, products and services.
  • Hello-Alice-Logo-120x120Hello Alice is offering $10,000 Business for All Emergency Grants being distributed immediately to small business owners impacted by Coronavirus, as part of their broader mission to ensure Business for All. In addition to funding, grant recipients will receive ongoing support from the Hello Alice community.
  • Salesforce-Logo-120x120Salesforce will soon be offering Salesforce Care Small Business Grants of $10,000 to impacted small businesses. The application process begins in mid-April 2020. To get notified when the application process opens, sign up here.
  • Google-Logo-120x120The Opportunity Finance Network is working with Google to launch the Grow with Google Small Business Fund. The $125 million fund will deliver responsible financing to CDFIs to help thousands of small businesses and nonprofits hardest hit by the COVID-19 pandemic. In addition, Google will make a $5 million grant to OFN to help CDFIs to grow and build their capacity. These funds will enable OFN’s member CDFIs to improve access to capital for the most marginalized communities, particularly women and minority small business owners.
  • Community Aid from Sonoma County Vintners Foundationis offering $1.2 million in aid for the Sonoma County Community. The first program is a Winery and Restaurant Employee Assistance program. The second is the annual distribution of community grants to Sonoma County nonprofit organizations.
  • USDA Rural Development opens second application window for the Distance Learning and Telemedicine (DLT) grant program. This window includes an additional $25 million that Congress recently provided to the program under the Coronavirus Aid, Relief and Economic Security Act (CARES Act).

    Business Expenses

    • When events cause people and businesses to suffer serious and costly losses and insurance benefits become critically important to recovery, United Policyholders provides guidance, advocacy support and information to facilitate fair claim payouts.
    • California State Tax Deadline has been extended. This relief includes moving the various tax filing and payment deadlines that occur on March 15, 2020 through June, 15 2020 to June 15, 2020. This includes: Partnerships and LLCs who are taxed as partnerships whose tax returns are due on March 15 now have a 90-day extension to file and pay by June 15.

    Contact Information

    Lauren Cartwright

    Business Retention and Expansion Program Manager

    Economic Development Board
    Contact us by Phone

    Contact Information

    Marcos J. Suarez

    Asistencia a Negocios en Español

    Economic Development Board
    Contact us by Phone

    Contact Information

    Christine Palmer

    Business Development Program Manager

    Economic Development Board
    Contact us by Phone
    Address
    141 Stony Circle, Suite 110
    Santa Rosa, CA 95401