Paycheck Protection Program (PPP) round 2: The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. Read the press release here. We will continue to update this section as new information becomes available.
CA Small Business Relief Grant: CalOSBA and the State of California announce $500 million in COVID-19 relief grants for California small businesses. A first round of applications is open until 1/13/2021. A second round will be announced soon. Eligible small businesses and nonprofits may apply directly at CAReliefGrant.com, or with assistance from a partner (visit website for assistance options). There are three local partners assisting Napa County with the grant administration. You can learn more about each partner by clicking here.
PPP Forgivable Loans: a new round in the new federal relief package. It is important that you check-in with your banking/lending institution to see what their specific process will be to address redistribution or reapplication for funds when the time comes. We update this section as more information is available. Please continue to check the SBA Coronavirus (COVID-19): Small Business Guidance & Loan Resources page and specifically the PPP Loan Information Page.
Pandemic Unemployment Assistance (PUA). Program for those not eligible for regular unemployment like independent contractors, self-employed individuals, and more.
Small Business Disaster Relief Loan Guarantee Program (via IBank). $50 million in state funding, providing potential capital for individuals who do not qualify for federal funds.
Economic Injury Disaster Loans (EIDL). SBA loans available to pay for expenses that could have been met had the disaster not occurred, including payroll and other operating expenses.
Small Business Debt Relief Program Loans. If you are a current borrower under SBA 7(a) (not through PPP), a 504 loan program or a microloan, you are eligible for debt relief and SBA will cover all loan payments for 6 months.
Napa-Sonoma Small Business Development Center
The California Capital Access Program (CalCAP) for Small Business encourages banks and other financial institutions to make loans to small businesses that have difficulty obtaining financing. If you own a small business and need a loan for start-up, expansion or working capital, you may eligible for this program. CalCAP is a loan loss reserve program which may provide up to 100% coverage on losses as a result of certain loan defaults. Loans are available up to $5 million.
Families First Coronavirus Response Act (FFCRA) may provide reimbursement for paid leave costs related to COVID-19.