COVID-19 Resources for Businesses

SBDC Resources

  1. Small Business Development Collaborative SBDC
  2. COVID-19 Business Resource Guide
  3. COVID-19 SBDC Business Resources
  4. Small Business Development Center Disaster Preparedness Toolkit
  5. Workforce Development

Government Resources

  1. UI Work Sharing Program – Staff Reduction Alternatives
  2. Unemployment Insurance - Reduced Work Hours
  3. Disability Insurance – Sick or Quarantined
  4. Paid Family Leave – Caregiving
  5. Delayed Filing – State Taxes
  6. Delayed Filing – Federal Taxes
  7. Low-Income Home Energy Assistance Program – Financial/Energy Assistance
  8. California Department of Alcohol Beverage Control

FINANCIAL ASSISTANCE

Agency

Program

U.S. Federal (Various Agencies)

CARES ACT (FEDERAL STIMULUS PROGRAM)

Program Administration and Details Pending

Key Components (not inclusive of all relief measures)

Keeping American Workers Paid and Employed Act

  • Paycheck Protection Program
  • $349 billion for small business loans; for businesses < 500 employees and sole-proprietors, independent contractors and other self-employed
  • Borrowers shall be eligible for loan forgiveness equal to the amount spent by the borrower during an 8-week period after the origination date of the loan on payroll costs, interest payment on any mortgage incurred prior to Feb 15, 2020, payment of rent on any lease in force prior to Feb 15, 2020, and payment on any utility for which service began before Feb 15, 2020
  • Loans equal to lesser of 2.5 months of payroll or $10M to maintain payroll, lease, and utility payments; Loan period Feb 20 to Jun 30, 2020; Max. interest rate of 4%
  • Eligibility based on operational status as of Feb 15, 2020 vs. repayment ability

Expanded Eligibility of Economic Injury Disaster Loan (EIDL)

  • Expanded for individual operating as sole proprietor or independent contractor for Jan 31 to Dec 31, 2020
  • Emergency Grant of $10,000 advance payment to eligible EIDL applicant; repayment not required if loan denied

Business Provisions

  • Refundable payroll tax credit for 50% of wages paid by employers
  • Deferred employer payroll tax over two years
  • Modifications on treatment of net operating losses, loss limitations, recovery of alternative minimum tax credits, interest expenses and others

General Labor Related Provisions

  • Limitations on employer paid leave and sick leave
  • Provides employee laid off by an employer March 1, 2020 or later to have access to paid family and medical leave in certain instances if rehired by employer
  • Employers to receive advance tax credit from Treasury

Rebates to Individuals

  • All U.S. residents with adjusted gross income up to $75,000 ($150,000 married), who are not a dependent of another taxpayer and have a work eligible social security number, are eligible for $1,200 ($2,400 married) rebate and additional $500 per child
  • Eligibility based on 2019 tax return filed and include those with no income or on SSI
  • For income above $75,000, $5.00 will be deducted for every $100 above $75,000. ‚Äč Individuals above $99,000 will not be eligible
  • The federal government will send checks automatically either by check or direct deposit in April

Unemployment Insurance Provisions

  • Expanded to include self-employed, independent contractors, those with limited work history, furloughed workers, and “gig economy” workers (e.g. Uber, Lyft, etc.) to Dec 31, 2020
  • Additional $600 per week for up to four months
  • Additional 13 weeks of unemployment benefits through Dec 31, 2020 to help those who remain unemployed
  • Grants for 50% of costs incurred by States which provide a “short-time compensation” program

Foreclosure Moratorium and Consumer Right to Forbearance

  • Prohibits foreclosures on all federally-backed mortgage loans for a 60-day period beginning Mar 18, 2020
  • Provides up to 180 days of forbearance for borrowers of a federally-backed mortgage loan

Education Provisions

  • Defer student loan payments, principal, and interest for 6 months through Sept. 30, 2020 without penalty for all federally owned loans

Emergency Relief and Taxpayers Protections

  • $500B Emergency Treasury Exchange Stabilization Fund to provide loans, loan guarantees, and other investments
  • For direct lending, borrowers must maintain employment levels (no less than 90%) as of Mar 24, 2020 until Sept 30, 2020
  • Special facility targeted at nonprofits and businesses between 500 and 10,000 employees subject to criteria to retain no less than 90% of workforce with full compensation and benefits through Sept 30, 2020

U.S. Small Business Administration (SBA)

SBA DISASTER LOAN

  • Low-interest federal disaster loans for working capital to California small businesses suffering substantial economic injury
  • Up to $2M; Eligibility based on impact
  • Interest rate is 3.75% for small businesses and 2.75% for private non-profit organizations
  • https://disasterloan.sba.gov/ela
  • Phone: 800-659-2955 (TTY/TDD: 1-800-877-8339)
  • Email: [email protected]

U.S. Department of Labor’s Wage and Hour Division (WHD)

FAMILIES FIRST CORONAVIRUS RESPONSE ACT (FFCRA)

U.S. Department of Treasury, Internal Revenue Service

FEDERAL TAX RELIEF

  • Tax day for filing and payment extended to July 15 regardless of amount
  • Treasury, IRS and Labor announce plans to implement paid leave for workers and tax credits for small and midsize businesses
  • https://www.irs.gov/coronavirus

U.S. Department of Housing Urban Development (HUD)

HOMEOWNERS RELIEF

U.S. Department of Education (For Students)

FORBEARANCE INFO FOR STUDENTS, BORROWERS, AND PARENTS

California Office of Governor Gavin Newsom

90 DAY MORTGAGE PAYMENT RELIEF

California Infrastructure and Economic Development Bank (IBANK)

IBANK

A unit within California Governor’s Office of Business and Economic Development (GO-Biz), that offers the following loan programs for businesses from one to 750 employees (small businesses):

DISASTER RELIEF LOAN GUARANTEE PROGRAM (DRLGP)

  • For declared disaster areas to help lenders and small businesses by providing loan guarantees of up to $1 million

JUMP START LOAN PROGRAM

  • Loans from $500 to $10,000 to low-wealth entrepreneurs in the declared disaster and emergency areas

California State Treasurer Office

CALIFORNIA CAPITAL ACCESS PROGRAM (CalCAP)

California Franchise Tax Board & Department of Tax and Fee Administration

CALIFORNIA STATE TAX RELIEF

California Employment Development Department (EDD)

DISABILITY INSURANCE

PAID FAMILY LEAVE

UNEMPLOYMENT INSURANCE (UI) CLAIM

DISABILITY INSURANCE ELECTIVE COVERAGE

Facebook

SMALL BUSINESS GRANTS PROGRAM

ADDITIONAL RESOURCES

Agency

Program

California Labor and Workforce Development Agency

Guidance for California Employer and Workforce

Centers for Disease Control & Prevention

Workplace Health & Safety

Cal/OSHA Guidance on COVID-19

Workplace Health & Safety

California Employment Development Department (EDD)

Rapid Response Services

California Labor Commissioner’s Office

FAQs regarding employee leave options, compensation, and salary

California Department of Public Health