Business Resources

Looking for free counseling to help you navigate this uncertain economic time?

The COVID-19 crisis has created uncertainty and stress for many employers. These resource partners are ready to help:

  • Visit SBA Sacramento online or call 1-800-659-2955.
  • The SBDC Capital Region can help with applying for relief, guiding you through available resources, cash flow concerns, supply chain interruptions, workforce capacity, insurance coverage and more – at no cost.
  • Metro Chamber’s Rapid Response Hub has an employee portal with links to information and resources.
  • Call the Rapid Response Business Triage Hotline at 833-391-1919. It will be available 8 a.m. to 4 p.m. Monday through Friday, and it will take messages around the clock for callbacks.
  • S.C.O.R.E. is offering free recorded webinars. Find the webinar that’s right for you here.
  • Contact us! Email [email protected] or call 916-442-8575.

FORK 2 FARM RELIEF + RESTOCKING GRANTS

Restaurants and food-related retailers located in the Central City can submit invoices from qualified, local small farms and/or their suppliers to help cover the cost of restocking or past due bills, up to $2,500. Fork 2 Farm Relief + Restocking Grants

Fork 2 Farm is a micro-grant program administered by the Downtown Sacramento Foundation, supported by Visit Sacramento and Downtown Sacramento Partnership through funding from Bank of America, which aims to reduce the economic cost of the COVID-19 pandemic and preserve America’s Farm-to-Fork Capital.

Learn more about eligibility and how grants will be distributed at DowntownSac.org/Fork2Farm.

CORONAVIRUS AID, RELIEF, and ECONOMIC SECURITY (CARES) ACT

The CARES Act is a robust federal aid package to help bolster the country’s health care response, strengthen the economy, and establish stronger support for unemployed workers. In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to support businesses financially impacted by COVID-19. Learn more about SBA relief programs at sba.ca.gov or call their Customer Service Center at 1-800-659-2955.

With a variety of federal relief programs, wondering what’s right for you?

Need capital to cover the cost of retaining employees?

Employee Retention Credit provides a refundable payroll tax credit of 50% up to $10,000 in wages paid by an eligible employer. Learn more at irs.ca.gov.

The Paycheck Protection Program (PPP), modeled after the existing SBA 7(a) loan program, provides government-backed FORGIVABLE loans for small businesses. Applications must be received by August 8, 2020. Apply here now!

Need capital to cover lost revenue?

The Economic Injury Disaster Loan (EIDL) is designed to provide low-interest loans to businesses that are currently experiencing a temporary loss of revenue. Learn more and apply here. A separate EIDL program is also available to provide low-interest loans to offset the cost of damage that occurred during recent civil unrest. Learn more here.

Need a quick infusion of cash to cover you right now?

Consider applying for an SBA Express Bridge Loan. This program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly, bridging the gap while processing an EIDL loan. Learn more about loan terms here.

Looking to keep up with payments on your current or potential SBA loan?

The Small Business Debt Relief Program will pay 6 months of principal, interest, and any associated fees that borrowers owe for all current 7(a), 504, and Microloans in regular servicing status as well as new loans disbursed prior to September 27, 2020. (This relief is not available for PPP loans or EIDL loans.) Borrowers do not need to apply for this assistance, it will be automatically provided. Learn more here.

Main Street Lending Program

The Federal Reserve established the Main Street Lending Program to support lending to small and medium-sized businesses and nonprofit organizations in sound financial condition before the onset of COVID-19.  Businesses interested in the Program can apply for loans by contacting an eligible lender to determine if they meet program criteria and underwriting standards. Learn more about the Program here.

CALIFORNIA BUSINESS RELIEF PROGRAMS

The Governor’s Office of Business and Economic Development (GO-Biz) has compiled helpful information for employers at business.ca.gov/coronavirus-2019. The state has established programs that may help you access capital and/or reserve funds, including:

California Disaster Relief Loan Guarantee Program

The Small Business Finance Center (SBFC) is partnering with Financial Development Corporations to provide up to $50 million in loan guarantees and direct loans for small businesses that experience capital access barriers, including businesses in low-wealth and immigrant communities. Qualifying small business owners may apply directly with a lender or get additional information by contacting one of the participating Financial Development Corporations (FDCs) here.

Relief and Extensions for Tax Filings 

First-quarter 2020 returns, for all but the largest taxpayers, were extended and are now due July 31, 2020. Taxpayers with a liability of $1 million or more may still request an extension if they are unable to file and pay by their due date. These requests are evaluated on a case-by-case basis. Learn more here.

Effective April 2, 2020, small business taxpayers, those with less than $5 million in taxable annual sales, can take advantage of a 12-month, interest-free, payment plan for up to $50,000 of sales and use tax liability. The policy would allow businesses to defer paying their sales taxes on returns with original due dates between March 1, 2020, and July 31, 2020, without penalties, fines or interest for a year. Payment plan requests can be made here.

Employers experiencing hardship as a result of COVID-19 may also request up to a 60-day extension to file state payroll reports and/or deposit state payroll taxes without penalty or interest. A written request for an extension must be received within 60 days from the original delinquent date of the payment or return. Learn more here.

Disaster Loans for Small Businesses Affected by Civil Unrest

The SBA is offering low-interest federal disaster loans for working capital to small businesses economically impacted by civil unrest that began May 26, 2020. 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. Eligibility is based on the financial impact of the disaster only and not on any actual property damage. The deadline to apply for economic injury is April 7, 2021. Apply here now!

Visit SBA’s virtual Business Recovery Center to answer questions about the Economic Injury Disaster Loan (EIDL) program, explain the application process and help complete your electronic loan application. This service is only for EIDL’s related to civil unrest, not the COVID-19 related EIDL.  

Virtual Business Recovery Center
Mondays – Fridays
8 a.m. – 4:30 p.m.
[email protected]
916-735-1500

ADDITIONAL RELIEF RESOURCES

SMUD Nonprofit Microloan Program 

SMUD’s Sustainable Communities initiative has partnered with California Capital to create a simple, low-interest microloan program to help local nonprofits in our service area keep their operations running and growing. Learn more at smud.org.

Microloan applications can be submitted July 17 – September 1, 2020. To apply, fill out and submit a microloan interest form.

Yelp Relief Programs

Yelp recently announced $25 million in relief, primarily focused on supporting independent local restaurants and nightlife businesses, in the form of waived advertising fees, and free advertising, products and services.  Yelp in partnership with GoFundMe, also introduced a fast and simple way for independent businesses to accept donations through their Yelp pages. Learn more.

  • Promote donations to your business directly from Yelp: GoFundMe fundraisers will automatically appear on Yelp pages for restaurants, nightlife, beauty, and fitness & active life businesses. Users will see a “Donate” icon on the business’s Yelp profile, inspiring them to take action. This gives the community a simple and easy way to show their support. Businesses must have fewer than five locations. (See FAQ)

USBG National Charity Foundation: Bartender Emergency Program

The USBG National Charity Foundation is offering a Bartender Emergency Assistance Program for those in the restaurant and bar industry. Apply here.

Restaurants Care Grant Program

California Restaurant Association Foundation (CRAF) introduces Restaurants Care.  A program is available for employees who have been affected by COVID-19. This grant will help to cover basic living expenses such as rent, food, and utilities. Apply here.

Rainbow Chamber Foundation Small Business and Entrepreneur Award Fund

In partnership with Wells Fargo, the Sacramento Rainbow Chamber of Commerce will award a total of $20,000 to deserving Sacramento small businesses over the course of 2020. Recipients will each receive $2,500 and a one-year Sacramento Rainbow Chamber membership, which provides access to additional business resources and support. Apple here.