7 COVID-19 resources for small businesses – January 2021

With new federal and state legislation enacted over the holidays, it can be challenging to sift through what’s available for businesses. Below, EDC has outlined seven new and ongoing support/resources available as businesses navigate impacts of COVID-19.

1. COVID Relief Grant Program

The State of California launched a $500 million COVID Relief Grant Program for small businesses that have been impacted by the pandemic and accompanying safety restrictions. Eligible underserved small businesses and nonprofits may apply for up to $25,000 in grant funds. Apply by Wednesday, January 13.

Please note: Applications are not first-come, first-served. Take the time to ensure your application is accurate via San Diego and Imperial SBDC Network‘s on-demand webinars (in English and Spanish).

2. Economic Injury Disaster Loan (EIDL)

The EIDL grant program has reopened applications for grants up to $10,000. Businesses that did not previously receive the grant can apply, with priority given to small businesses with less than 300 employees, located in low-income neighborhoods, and that have experienced a 30 percent reduction in gross receipts. Apply now.

3. Paycheck Protection Program (PPP)

Companies with fewer than 300 employees that have experienced a greater than 25 percent reduction in gross receipts will soon be able to apply for a second PPP loan, with priority given to hardest-hit industries. Companies may receive both a PPP loan and EIDL loan without compromising PPP forgiveness. PPP loans are nontaxable and will be forgivable if used for appropriate expenses. For more information, visit the SBA website.

4. San Diego County Small Business Stimulus Grant

Small businesses and nonprofits with fewer than 100 employees may apply to receive grant funding. Final awards will be made by individual district offices based on availability of funds, program guidelines, and the submission of all required information. Apply now.

5. Employee Retention Tax Credit

Companies may now receive a credit against employment taxes for up to 70 percent on $10,000 in wages per quarter (or a maximum $14,000 per employee through June 30). Employers that experienced a decline of more than 20 percent in gross receipts may apply. For more information, visit the IRS website.

6. Employee Training Panel COVID-19 Pilot Program

Manufacturers in select industry sectors including food and medical manufacturing may receive assistance for training new and rehired employees. The program provides a training off-set for as little as four hours of training per new or rehired employee earning at least $17.50 per hour. For more information, visit the State website.

7. California Competes Tax Credit

Companies of any industry, size, or location may apply for part of $180 million available in tax credits to relocate or stay and grow in California. For more information on eligibility and assistance, visit the State website or apply by January 25.

EDC is here to help. Request our help finding information, applying to these relief programs, and more, at no charge.

Request EDC assistance

 

For more COVID-19 recovery resources and information, please visit this page.

 

You might also like:

4 resources for San Diego small businesses – May 21, 2020

With so many relief and recovery programs launching every day, it can be difficult to figure out which ones your business should prioritize. In addition to financial resources for San Diego businesses and residents that we’ve compiled here, here are four recovery resources you should know about. 

1. Connect with your customers online via GoSite

Local digital software suite provider GoSite is helping small businesses connect with their customers online with a free website and payment method. Click here to learn more.

2. Reopening guides for San Diego’s restaurants, retailers, & small businesses

San Diego Regional EDC convened a broad coalition to develop step-by-step guides to help local businesses reopen. These guides have been tested in focus groups, and align with local, state and national guidance. EDC recognizes that in order to get to a point where reopening guides such as these are useful, other issues, like childcare, must be addressed first. Download your guide here.

3. SDGE late payment fee waivers

SDG&E will waive late payment fees for business customers whose finances have been hit hard. The company also urges customers who are struggling to pay their utility bill due to financial hardships stemming from the coronavirus to call its Customer Contact Center at 1-800-411-7343 to make payment arrangements. Click here to learn more.

4. Rady School business recovery coalition

The Rady School of Management at the University of California San Diego will help businesses in the San Diego region navigate the unprecedented challenges faced by COVID-19. Drawing on expertise from the UC San Diego community, Rady will provide immediate pro bono assistance to businesses, including PPP loan forgiveness application templates, risk evaluation, and other guidance. Apply here.

For more COVID-19 recovery resources and information, please visit this page.

Regardless of how this all plays out, EDC is here to help. You can use the button below to request our assistance with finding information, applying to relief programs, and more.

Request EDC assistance

You also might like:

Reopening San Diego’s small businesses [free guides]

San Diego Regional EDC, in partnerships with San Diego and Imperial SBDC, have commissioned a broad team to develop detailed guides to help small businesses reopen – in advance of San Diego’s announced phase 2 reopenings. The guides align with current local (San Diego County), state, and national guidance, were developed in collaboration with various regional task forces, and have been tested in focus groups by local businesses.

Small businesses are the backbone of our region’s economy, and employ the majority of San Diegans. In order to meet our regional goal of creating 50,000 quality jobs in small businesses by 2030, we all need to invest in ensuring small businesses have the tools they need to recover, adapt, and thrive over the coming months. Funding, technical assistance, and childcare for working parents are also important to the long term recovery and resiliency of San Diego’s small businesses.

For more tools to help distribute the guides, contact Heather Dewis at hd@sandiegobusiness.org. Let’s get San Diego back to work. 

Download the free Small Business guides



Additional Small Business resources

For more business resources, including information about relief programs, visit our COVID-19 resource page.

If you’re a small business that is looking for direct counseling, please request EDC’s support here.

Other articles you might be interested in: