COVID-19 Business Information and Resources

California Capital continues to provide business training and counseling services to our communities. Please visit our calendar for a list of classes that are now offered online.

For one-on-one assistance with your business, counseling services are available by internet and telephone.  Please visit our Women’s Business Center or Procurement Technical Assistance Center for more information.

 

 

Current California State Covid-19 Relief Programs

The California Relief Grant:

The California Small Business COVID-19 Relief Grant Program (the “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. (Note: California Capital FDC does not disburse California Relief Grant funding. Lendistry is the sole entity designated as the intermediary of California Small Business Covid-19 Relief Grant Program). 

The California Rebuilding Fund:

This program provides flexible loans to businesses who employed 50 or less full-time equivalent employees (FTEs) and had gross revenues of less than $5 million or below in 2019 are eligible to apply.

 

Small Business Administration (SBA) Programs

Economic Injury Disaster Loans (EIDL) 

This federal small business loan program supports small businesses’ recovery from the COVID-19 disaster’s economic impacts by providing accessible and borrower-friendly capital.

Loans have a 30-year term and can be used for working capital to make regular payments for operating expenses, including payroll, rent/mortgage, utilities, and other ordinary business expenses, and to pay business debt incurred at any time (past, present, or future). 

Paycheck Protection Program (PPP)

Notice: The Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness.Paycheck Protection Program (PPP) 

Applications for the Shuttered Venues Grant and Restaurant Revitalization Fund are now closed as of 9/23/2021. 

 

 

California COVID-19 Relief Grant Program

The application period for the first round of the California Relief Grant Program ended January 13. Here’s what you need to know: 

  • Application review begins January 14, and application approval notifications will be sent out between Friday, January 15th and Friday, January 22nd.
  • Fund disbursement will take place over a 45-day verification period beginning January 22nd.
  • Second round application period will begin February 2nd. It will end February 8th.
  • If you met eligibility requirements and submitted all documents for the first application period, but did not receive a grant, you do not need to reapply. Your application will automatically be considered in Round 2.

 

Congress Passes Stimulus Package with Refreshed PPP Program, new EIDL funding for small businesses Tuesday 12/22

 A new Covid-19 recovery stimulus bill has passed both houses of Congress, with significant funds earmarked for small businesses. A new round of PPP (Paycheck Protection Program) loans will be administered, with certain issues of the previous program being fixed. 60 percent of funds borrowed must be dedicated to payroll, and the expenses that the remaining 40 percent can go towards have been expanded. Click here to read more about updates to the program. In addition, Congress has dedicated $20 billion to the Economic Injury Disaster Loan program, to make up for certain shortfalls in the initial round of funding and to administer grants of up to  $10,000 to small businesses who had applied before but were denied because funds had run out. For more information, click here.  Small businesses can apply for each through the Small Business Administration.  

 

Governor Newsom Signs New Executive Order With Tax Provisions for Small Businesses Monday 12/14

 As of Monday, December 14, Governor Gavin Newsom signed an executive order increasing provisions for marginalized communities, and allowing 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. Small businesses will have until the end of July to file their first-quarter returns. Click here to read the full Executive Order.  

 

New Grants and Temporary Tax Relief Announced Monday 11/30

 On Monday, November 30, Governor Gavin Newsom announced a package of assistance for small businesses affected by the prolonged Covid-19 crisis. This includes:  

  • $500 million in grants. Funds would be awarded to selected intermediaries with established networks of Community Development Financial Institutions to distribute relief through grants of up to $25,000 to underserved micro and small businesses throughout the state by early 2021. Non-profits would also be eligible for these grants. CalOSBA is establishing the program and will make it available to small businesses as soon as possible. Sign up for updates on availability. 
  • Temporary Tax Relief. Applications for the Main Street Small Business Tax Credit are now open. Apply for a tentative small business hiring credit, which can be applied against California state income or sales and use taxes. Small businesses that employed 100 people or less as of 12/31 2019 AND suffered a 50 percent decrease or more in income tax gross receipts when comparing Q2 2020 to Q2 are eligible to apply. Apply here. 
  • California Rebuilding Fund. An additional $12.5 million was added to the fund. Determine your eligibility for a low-interest loan. 

 

The California Rebuilding Fund

 Announced on November 20, 2020, The California Rebuilding Fund is a public-private partnership that is aggregating funding from private, philanthropic, and public sector sources – including a $25 million anchor commitment from IBank – to address the capital and advisory needs of California’s small businesses as they reopen and recover from the COVID-19 health and economic crisis. This program is built to serve the smallest of small businesses that make up an essential part of the California economy, and will focus on historically under-resourced communities. 

Designed to ensure equitable recovery and adaptation to the ongoing effects of the COVID-19 pandemic on California’s small businesses and the people behind them, the CRF program will offer free services and affordable loans. To learn more and to determine the eligibility of your business, head to their website: California Rebuilding Fund.

 

City of Sacramento

The City of Sacramento is committed to seeing the community move forward together. Support services and financial relief are available to Sacramento businesses, including:

  • Disaster assistance loans and temporary funding programs through the U.S. Small Business Administration, including Express Bridge Loans, Debt Relief, the Paycheck Protection Program, and Economic Injury Disaster Loans.
  • California Relief Loan Guarantee: The State of California has allocated $50M to the IBank Small Business Finance Center to assist small businesses that may not qualify for federal funds. The program provides guarantees for loans up to $50K for small business borrowers in declared disaster areas. Check your eligibility and apply.
  • State of California Employment and Taxes: The State of California is providing broad assistance to qualifying small businesses and employers impacted by COVID-19. Learn more. 
  • “Resilience, Repurpose, Recovery” Webinars: In an effort to support local businesses as they navigate the COVID-19 outbreak and its economic repercussions, the City of Sacramento’s Office of Innovation and Economic Development has launched a video webinar series. Check for upcoming webinars. 

 

Important Changes to PPP Loan Forgiveness

The U.S. Small Business Administration, in consultation with the Treasury Department, has released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less.

This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.

 

Disaster Loan Assistance

Disaster loan assistance is available through multiple agencies.

  • The U.S. Small Business Administration (SBA) is offering loan assistance through a streamlined process. Check your eligibility and apply.
  • The SBA is also providing updated information and resources regarding the CARES Act and the Paycheck Protection Program. View the latest updates.
  • If your business does not qualify for SBA Disaster Loans, you may be eligible to apply for disaster financing up to $50,000 through the California Disaster Relief Loan Guarantee Program. Check your eligibility and apply.
  • If you are outside of the Greater Sacramento area, please contact your local Financial Development Corporation (FDC) for more information about resources available in your community. Map of California FDCs.
  • Personalized advising is available to help your business navigate the various Disaster Loan programs. Please visit the Small Business Development Center (SBDC) to sign up for free services. Sign up today.

 

State and Federal Government Resources

California Capital FDC is committed to working with federal and state governments to match small businesses with the resources they need to make it through this prolonged shutdown. We know that having access to the most current guidelines and resources is crucial to the health of your business and your community.

Resources from The State of California

Resources from the federal government:

 

Resources To Help Your Business Maintain Operations

Agencies and non-profits at the state and local level want to see your business thrive. Read below for more information on the organizations dedicated to your success through the Covid-19 pandemic.

 

Extension of Certain State and Federal Filing Deadlines

  • California State Income Taxes:  The deadline for filing personal and corporate income taxes has been extended to July 15, 2020. The Franchise Tax Board’s Covid-19 webpage has important information about filing state income taxes, including a page for Frequently Asked Questions. 
  • State Sales and Use Taxes: The California Department of Tax and Fee Administration has offered immediate interest-free deferred payment plans for small businesses.
  • Federal Income Taxes:  The deadline for filing federal personal and corporate income taxes was extended to July 15, 2020.  The IRS has established a special section to assist taxpayers, businesses, and individuals impacted by coronavirus.  Updates will be shared on this webpage, and IRS guidance on deferring tax payments can be found under “News Releases”. 
  • State Payroll Taxes:  Employers experiencing a hardship as a result of Covid-19 may request an extension of up to 60 days to file their state payroll reports and/or deposit state payroll taxes without penalty or interest through the Employment Development Department. A written request for an 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 toll-free from the U.S. or Canada at 1-888-745-3886.  

Accessing Capital: Public and Private Financial Resources

State Programs:  California’s Small Business Finance Center provides small businesses access to a range of financial products, including the Small Business Loan Guarantee (guarantee through private lenders) and the Jump Start Program (direct loans to businesses).  California also offers a loss reserve-style credit enhancement program, the California Capital Access Program, to encourage private lenders to provide small business loans.

Federal Programs: The federal Small Business Administration has activated its Economic Injury Disaster Loan Program, which offers low interest loans with a deferred initial repayment date of next year, as well as a range of other disaster and non-disaster loan programs.  Information about these programs, including those funded under the recently enacted CARES Act is available at the SBA’s Covid-19 webpage. 

Existing Loans: On March 20, 2020, State and federal regulators of financial institutions issued a special directive to lenders to work constructively with businesses in modifying existing loans.

Employer Guidance from California Labor Agency

Employer Guidance From The Federal Government

  • The federal Centers for Disease Control and Prevention guidance for businesses and employers can be found here.
  • The federal Small Business Administration (SBA) is providing guidance and consistently updating information about loans, contracting opportunities, and other resources available here.

Resources Available To Employees

 

Local Resources