Federal Loans and Grants

• Save Small Business Fund: 
  • As of April 22, the U.S. Chamber of Commerce has closed applications for the Save Small Business Fund. They received more than 15,000 applications and can no longer accept applications. If you submitted an application, you will be notified if it results in a grant  For more information and updates on this initiative please visit its website here.
  • The U.S. Chamber of Commerce’s Save Small Business Fund is a grant initiative offering short-term relief for small employers. Eligible businesses must employ 3 to 20 people, be in an economically vulnerable community and have been harmed financially by coronavirus. Grant awards will be $5,000. Applications are now available here.
• Federal Grant Resources: The Governor’s Office of Planning and Research developed a federal grant resources webpage that provides information on how to learn about and apply for federal grants. Find more information here.
• Express Bridge Loan: SBA introduced a new loan for small businesses that currently have a business relationship with a SBA Express Lender to access up to $25,000 quickly. These loans can provide vital economic support to small businesses and assist with temporary loss of revenue, and can be used as term loans or to bridge the gap while applying for a direct SBA Economic Injury Disaster Loan.
• Coronavirus Aid, Relief and Economic Security (CARES) Act: On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act, also known as the CARES Act, was signed into law. The act provides assistance to small businesses through emergency grants, forgivable loans and relief for existing loans. Below is a summary of the CARES Act’s small business provisions, which are being carried out by the SBA. 
  •  Paycheck Protection Program
    • Update: With the recent approval of the Paycheck Protection Program and Health Care Enhancement Act, SBA resumed accepting Paycheck Protection Program applications from approved lenders on behalf of any eligible borrower. SBA is encouraging all approved lenders to process loan applications previously submitted by eligible borrowers and disburse funds expeditiously. Businesses looking to apply can find a lender here.
    • As of April 16, SBA is currently unable to access more applications, but Congress is in discussions to appropriate more funds. We will provide updates as information becomes available.
    • As of April 3, lenders can begin processing Paycheck Protection Program loans for small businesses.
    • Small businesses and eligible nonprofit organizations, veterans organizations, and tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
    • Under this program:
      • Eligible recipients may qualify for a loan up to $10 million determined by eight weeks of prior average payroll plus an additional 25% of that amount.
      • Loan payments will be deferred for six months.
      • If you maintain your workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first eight weeks of payroll and certain other expenses following loan origination.
  • Economic Injury Disaster Loans and Loan Advance
    • Update: The loan portal is now reopen for qualified agricultural businesses. At this time, only agricultural business applications will be accepted due to limitations in funding availability. For more information, visit SBA’s website here.
    • SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue.
    • Small businesses are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
    • Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.
    • Tip: Did your business recently apply for an Economic Injury Disaster Loan (EIDL)? If your business has submitted an EIDL application, review your submission and make sure you clicked the EIDL Advance box in section 4, question 8 to be eligible for the $10,000 advance on this loan. Applicants can update their applications without moving their place in line. 
  • SBA Debt Relief
    • The SBA Debt Relief program will provide a reprieve to small businesses as they overcome the challenges created by this health crisis.
    • Under this program:
      • SBA will pay the principal and interest of current 7(a) loans for a period of six months.
      • SBA will pay the principal and interest of new 7(a) loans issued prior to September 27, 2020.
• Disaster Loan Program: SBA is providing low-interest disaster loans for working capital to small businesses suffering substantial economic injury as a result of coronavirus. 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. Apply online and check application status.  
• Capital Loans: SBA works with lenders to provide loans to small businesses. The agency doesn’t lend money directly to small business owners but sets guidelines for loans made by its partnering lenders, community development organizations that makes it easier for small businesses to get loans. Loans guaranteed by the SBA range from small to large and can be used for most business purposes, including long-term fixed assets and operating capital. 

State Loans and Grants

• Disaster Relief Loan Guarantee Program: California’s Infrastructure and Economic Development Bank (IBank) is issuing loan guarantees of up to 95 percent of the loan through its partner Financial Development Corporations. This program will help lenders and small businesses by providing loan guarantees of up to $1 million for small business borrowers in declared disaster areas.
  
• Jump Start Loan Program: California IBank is offering loans from $500 to $10,000 to low-wealth entrepreneurs in the declared disaster and emergency areas. 
• California Capital Access Program: Office of the California State Treasurer is offering a small business loan program with special disaster assistance.

Local Loans and Grants

• OCWDB COVID-19 Layoff Aversion Support Program: 
  • Update: OCWDB COVID-19 Layoff Aversion Support Program applications are closed. Please visit its website for updates here. 
  • In partnership with the Orange County Workforce Development Board (OCWDB), the County of Orange will be launching the OCWDB COVID-19 Layoff Aversion Support Program. OCWDB received $700,000 in Workforce Innovation Opportunity Act (WIOA) funds from the California Employment Development Division (EDD) to support local small businesses impacted by COVID-19.
    
    Through this program, eligible businesses can receive up to $10,000 in grant funds. This funding is intended to help local small businesses mitigate layoffs and adhere to social distancing provisions established by state and federal public health entities.
    
    Businesses will need to submit an application on the Orange County One-Stop Centers website to be considered for the grant funding. Applications open on May 21, 2020, at 9 a.m. PST and close on May 28, 2020, at 5 p.m. PST or until 170 applications are received, whichever comes first. Eligible applications will be processed on a first-come, first-served basis until all available funds have been committed.
    
    To be eligible for this grant funding, businesses must be in Orange County, have a workforce of 500 or fewer employees, and be up to date on Unemployment Insurance (UI) taxes and in good standing with the State of California. Other general criteria employers must meet to be considered for local funding include:
    • Priority consideration will be given to Small Businesses located within the Orange County Workforce System (Application will be considered for small businesses operating in the Santa Ana and Anaheim Workforce Systems)
    • May only apply for one-site or location in Orange County
    • Only one application may be submitted per organization
    • Must pay employees minimum wage or more
    • Must use the funds to help avert imminent layoffs or furloughs as a result of the COVID-19 economic crisis
    • Must be able to demonstrate a need for layoff aversion support due to the impacts of COVID-19
    • Must be able to enter into an agreement with Orange County that includes the conditions outlined in the application
    • Must be able to complete quarterly reports for up to one year after the award
      
• LISC Small Business Relief Grants: Through the support from funders like Verizon and Sam’s Club, Local Initiatives Support Corp also known as LISC are providing grants to small businesses, to help them sustain operations and remain vital facets of their local economies through this challenging period. Applications are being accepted through May 20 with grant funding up to $10,000. If you have previously applied, you may reapply for each round. Applicants are not automatically re-enrolled per round of funding. For more information on this grant visit the LISC website or view the grant FAQ here.
  
• C-19 Emergency Relief Working Capital Loan: CDC Small Business Finance is offering working capital emergency loans from $20,000 to $150,000 for California businesses. These loans can be used to cover payroll, rent or mortgage, utilities, insurance and more.
  
• C-19 Emergency Relief Microloan: CDC Small Business Finance is offering emergency relief microloans up to $50,000 available only to California businesses. There is no payment requirement for the first 90 days of this loan.

Private Sector Loans and Grants

• Main Street Matters Grant Program: Better Business Bureau recently launched Main Street Matters offering emergency grants in the form of $500 or $1,000 awards for businesses that have been financially impacted during the coronavirus crisis. Better Business Bureau is accepting applications from all small businesses. However, small businesses with 5-20 employees are being prioritized at this time. For more information, please visit its website here. 
• Facebook Small Business Grants Program: 
  • Update: Facebook Small Business Grants Program applications are currently unavailable due to high demand. Please visit its website for updates here.
  • Facebook is offering $100 million in cash grants and Facebook ad credits for up to 30,000 eligible small businesses. Facebook is accepting applications for Southern California starting this Wednesday, April 22. The application period will be open for two weeks, so don’t delay
• Salesforce Care Small Business Grants: 
  • Update: Salesforce Care Small Business Grant applications are currently unavailable due to high demand. Please visit its website for updates here.
    
  • Salesforce is partnering with Ureeka to offer eligible small businesses the opportunity to receive a $10,000 grant to help them through the challenges of coronavirus. California applications are currently open and close on May 4 at 11:59 p.m. Businesses must employ 2 to 50 employees, be in business since March 2018, have an annual revenue between $250,000 and $2 million to be eligible for this grant. Visit its website here to apply.
• Verizon and LISC Small Business Recovery Fund:
  • Update: The next round of Small Business Recovery Fund applications close on May 20. Please visit its website for updates here.
  • In partnership with Verizon, the Local Initiatives Support Corp is offering offering $7.5 million in grants to help small businesses fill urgent financial gaps. The next round of applications opens on May 14. Grants of up to $10,000 are available. These funds can be used to pay rent and utilities, meet payroll, pay outstanding debt to vendors and for other immediate operational costs. For updates on this program, click here. Additionally, Verizon continues its #PayItForwardLIVE, a weekly livestream to pay it forward for small businesses. Viewers can tune in every Tuesday and Thursday at 8PM ET/ 5PM PT on @Verizon’s Twitter, Yahoo, Verizon’s Facebook and YouTube pages, Fios channel 501 and 604, Yahoo Finance on Samsung TV Plus on channel 1017, The Roku Channel, AXS TV, FOX NOW or listen on iHeart and SiriusXM. As people support their favorite small businesses with #PayItForwardLIVE, Verizon will commit an additional $10 per use of the hashtag, up to $2.5 million. 
• Mozilla Coronavirus Solutions Fund:
  • Update: Mozilla Coronavirus Solutions Fund applications are currently unavailable due to high demand. Please visit its website for updates here.
  • Mozilla has created the Coronavirus Solutions Fund to provide awards of up to $50,000 each to open source technology projects that are responding to the pandemic in some way.