Financial Assistance for Businesses and Nonprofit Organizations
State and Federal Government Financial Assistance Programs:
The Small Business Association (SBA) is administering direct relief grants will provide emergency assistance for eligible restaurants, bars and other qualifying businesses impacted by COVID-19. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location.
This application is now open.
This grant provides emergency assistance for eligible venues affected by COVID-19. The program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance.
Eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.
Eligible entities include:
- Live venue operators or promoters
- Theatrical producers
- Live performing arts organization operators
- Relevant museum operators, zoos and aquariums who meet specific criteria
- Motion picture theater operators
- Talent representatives
The Paycheck Protection Program (PPP) is a loan designed to provide a direct incentive for small businesses to keep their workers on payroll. Borrowers may be eligible for PPP loan forgiveness.
SBA is currently offering PPP loans originated only by participating community financial institutions including Certified Development Companies (CDCs), SBA Microlenders, Community Development Financial Institutions (CDFIs), and Minority Depository Institutions (MDIs) until May 31, 2021 or until remaining funds are exhausted. Please note that not all community financial institutions are participating in PPP.
The California Restaurant Foundation will be accepting applications April 11 for its Restaurants Care Resilience Fund. This fund will provide grants up to $5,500 to operators of single-location restaurants while prioritizing businesses owned by women and people of color. The grants are open to restaurants with 50 or fewer workers, which are currently open. Eligible restaurants must have had a revenue loss of at least 20% from 2019 to 2020.
THIS PROGRAM IS CLOSED
Provides grants up to $25,000 to small businesses and nonprofits impacted by COVID-19 and the health and safety restrictions.
THIS PROGRAM IS CLOSED.
The U.S. Federal government has funding programs available to assist businesses impacted by COVID-19.
Temporary funding programs have been established though the SBA to provide disaster assistance loans for small businesses. Live agents are available to guide you through the process at 1-800-659-2955. Read information about the major programs available.
California’s EDD provides a variety of support services to people who have lost their jobs or have had their hours reduced due to the impact of COVID-19 in California including:
- Pandemic Unemployment Assistance (PUA) is offered to unemployed business owners, self-employed independent contractors and others not eligible for regular state unemployment benefits.
- Work Sharing Program is offered to companies as an alternative to layoffs. It allows employees to receive unemployment benefits while still keeping their current jobs.
The State of California has allocated $50 million to the IBank Small Business Finance Center to assist small businesses that may not qualify for federal funds. The program provides guarantees for loans up to $50 thousand for small business borrowers in declared disaster areas.
The State of California is providing broad assistance to qualifying small businesses and employers impacted by COVID-19.
SRCF activated its Sacramento Region Disaster Fund to help address challenges facing local nonprofit organizations due to COVID-19.
The Small Business Recovery Program will provide up to $25,000 in forgivable loans and technical assistance to businesses and nonprofits located in the City of Sacramento to provide economic support in connection with the COVID-19 public health emergency.
THIS PROGRAM IS CLOSED.