Additional Small Business Resources from Laurie
Here’s more information I received from a small business consultant I’ve used in the past, hope some of it is helpful to know.
City Resources for Small Business Impacted by COVID-19
Check out the City webpage contains information and resources for San Francisco employers and employees impacted by the COVID-19 outbreak. Please note that the webpage is constantly updated so we encourage you to keep checking the webpage. Highlights from the support for small business owners are:
- Defer business taxes to February 2021 with no interest or penalties.
- Defer business license fees to July 31, 2020.
- Small Business Resiliency Fund for up to $10,000 to pay for payroll and rent.
- Leasing and legal assistance.
- Small Business Revolving Loan to provide access to microloans.
- SBA’s Economic Injury Disaster Loans up to $2Million Dollars.
To learn more about any of these programs: https://oewd.org/assistance-guidance-businesses-and-workers-impacted-covid-19#Biz%20and%20Employers
Below I have highlighted two programs to access capital. Please apply as soon as possible it’s first come first serve.
COVID-19 Small Business Resiliency Fund
The City has established a fund administered by OEWD to offer emergency grants up to $10,000 for microbusinesses. Businesses must be able to show a recent loss in revenue.
For more information, visit COVID-19 Small Business Resiliency Fund, or contact: Judy Lee, 415-554-6607 investSF@sfgov.org
U.S. Small Business Administration (SBA) Resources for Employees
SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. 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. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.
SBA’s Economic Injury Disaster Loans
The U.S. Small Business Administration is offering San Francisco-based businesses low-interest federal disaster loans for working capital to small businesses and private, non-profit organizations suffering substantial economic injury as a result of the Coronavirus (COVID-19).
APPLY: Businesses and non-profits can apply online by visiting https://disasterloan.sba.gov/ela/.
HELP: Counselors are available to help if you need assistance completing the loan application. Please visit the following link to find a counselor in your region: https://www.sba.gov/local-assistance/find/
SBA Disaster Assistance Customer Service
1-800-659-2955 (TTY: 1-800-877-8339)