COVID-19 Resources for Small Businesses

(Updated 6/5/20) The website for the SBA Payment Protection Program (PPP) reopened Monday, April, 27 after Congress passed a new bill to aid employers and hospitals under stress from the coronavirus pandemic- this one for $484 billion. Some $60 billion goes to small banks and an alternative network of community development banks that focus on development in urban neighborhoods and rural areas ignored by many lenders. The PPP provides small businesses with loans up to $10M at 1% interest. Funds can be used to pay payroll costs (including benefits), interest on mortgages, rent, and utilities. The loan will be fully forgiven as long as it is used to cover mainly payroll costs over an eight week period after the loan is made. Prospective applicants cn any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating.

SBA Payment Protection ProgramBusiness Guidance and Loan Resources
https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

The Small Business Administration has created a guide for Coronavirus Funding Options, Guidance for Businesses and Employers, Local Assistance, SBA’s Relief Efforts, SBA Products and Resources, and Government Contracting.

Payment Protection Program Borrower Application Form
https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf


Economic Injury Disaster Loan (EIDL)

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories were able to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. This loan advance will not have to be repaid. SBA will begin accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications on a limited basis only to provide relief to U.S. agricultural businesses.

 

Express Bridge Loan Pilot Program

SBA Express Bridge Loans
Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.

CA: Pandemic Unemployment Assistancehttps://www.labor.ca.gov/pandemic-unemployment-assistance-pua-program

As of April 27 the Employment Development Department (EDD) is taking applications for emergency unemployment assistance for individuals not eligible for regular unemployment insurance, including independent contractors, self-employed individuals without sufficient work history, and individuals who have exhausted their regular and any extended UI benefits.

 

Internal Revenue ServiceFederal taxes, extensions, IRS deadlines.
https://www.irs.gov/newsroom/tax-day-now-july-15-treasury-irs-extend-filing-deadline-and-federal-tax-payments-regardless-of-amount-owed

State Franchise Tax BoardExtensions to file and pay for individuals & businesses.
https://www.ftb.ca.gov/about-ftb/newsroom/covid-19/extensions-to-file-pay.html

San Francisco Hardship Emergency Loan Program (SFHELP)

https://oewd.org/businesses-impacted-covid-19#Loans

San Francisco Hardship Emergency Loan Program (SF HELP) will rapidly deploy loans up to $50,000 at 0% interest. Funds can be used to pay payroll, rent, utilities, inventory and more.

Help For Non-Profits

Opportunity Fund’s Small Business Relief Fund

https://www.opportunityfund.org/assistance-for-small-business-owners-affected-by-covid-19/

Opportunity Fund is committed to supporting existing and new small business customers who are financially struggling amidst the COVID-19 outbreak. If you are a small business owner whose business has been impacted, please contact us directly so that we may better serve you.

Resources for Restaurant Owners/Workers

 

  • Frontline Foodshttps://www.frontlinefoods.org/

    Frontline Foods is a grassroots organization that raises money from the community to pay local restaurants to prepare meals for the heroes responding to the COVID-19 crisis.

 

  • World Central Kitchenhttps://wck.org/chefsforamerica

    Support for small, independent restaurants that may otherwise not remain in business. WCK identifies and qualifies demand for meals with support from city agencies, community-based nonprofits, and AARP – linking that demand to a restaurant. “We are starting in COVID “hot spot” cities, later expanding to more locations.” As part of its #ChefsForAmerica nationwide emergency food relief program, World Central Kitchen is committing to purchasing 1 million meals from local restaurants, and delivering those meals directly to Americans that need assistance.

Help for Small Businesses in English, Chinese, Spanish & Vietnamese

Mission Economic Development Agency (MEDA) 415-282-3334 | English, Spanish

Small Business Development Center (SBDC) 415-937-7232 | English, Chinese

Renaissance Center 415-348-6227 (SOMA), 415-647-3728 (Bayview)

Southeast Asian Community Center 415-885-2743 | Chinese, Vietnamese