LAKE COUNTY, CA (April 3, 2020) – The COVID-19 crisis is affecting us all, and with entire industries declared non-essential, local businesses are in need of support.
Resources are available, through both State and Federal programs, and we want to share some of the links where current information can be found.
The Governor’s office has established a resource page:
This link includes information on everything from loan opportunities to guidance on whether businesses are considered essential or non-essential in light of COVID-19.
The U.S. Small Business Association (SBA) also offers guidance and loan resources:
These pages are regularly updated, and with programs changing due to legislative action at the federal and state levels, business owners are encouraged to frequently visit these webpages to stay current on the latest opportunities available.
Yesterday afternoon, Governor Newsom announced new supports for small businesses. Per a California Office of Emergency Services [CalOES] release:
“Beginning [today, 4/3], California small businesses impacted by the COVID-19 crisis can apply for a loan from the federal government for up to $10 million. Importantly, the program is first-come, first-serve and the Governor encourages all eligible California small businesses to contact their lender to learn more.”
This federal program is called the Paycheck Protection Program, and is authorizing up to $349 billion in total funding, click here for more information:
The application for borrowers is available here:
More from CalOES:
“[Yesterday, 4/2], the Governor also announced that the state is allocating $50 million to the California Infrastructure and Economic Development Bank for loan guarantees to small businesses to help eliminate barriers to capital for individuals who do not qualify for federal funds, including low wealth and undocumented immigrant communities. The state is also allowing small businesses to defer payment of sales and use taxes of up to $50,000, for up to 12 months.”
See CalOES’ full Press Release here:
Lake County Economic Development Corporation (LCEDC) also recently produced a webinar, to help local businesses understand and access available resources:
Lake County Economic Development Corporation can be reached at (707) 279-1540, Ext 101.
Our local businesses continually make valuable investments in our communities, and we sincerely hope some of these resources can help Lake County businesses weather these unprecedented times. The situation is evolving, and we encourage businesses to continue to follow State and Federal resource webpages.