03/25/2020

Updated Cash-Flow Resources for Small Businesses Impacted by COVID-19

Small businesses across the United States are feeling the impact of mandatory closures and safety measures required to slow the spread of the coronavirus (COVID-19).

But there are a growing number of resources and relief programs to turn to at the federal, state and local levels.

If you are applying to one or several of these programs and need assistance gathering the necessary financial documentation, please reach out to our team to see how we can help.

This list of resources available is as of Wednesday, March 25th.

 Federal Coronavirus Small Business Assistance

$2 Trillion Relief Package: The largest emergency aid package in US history with emergency loan details for small businesses to be available soon. Package measures are designed to encourage businesses to keep employees on their payroll so consider your options before making strategic decisions.

Tax Payment Deadline Pushed to July 15: What does this mean for you?

Federal Reserve Cuts Interest Rates to 0%: Is now the right time to consider a line of credit for your small business?

SBA Economic Injury Disaster Loan Program: Working capital loans of up to $2 million to cover accounts payable, debts, payroll, and other bills

California State and Local Coronavirus Small Business Assistance

CA Office of Small Business Advocates: Information for employers, employees, and all Californians as it relates to the coronavirus (COVID-19) outbreak

Temporary Suspension of WARN Act Requirements for CA Businesses: Releasing businesses from their responsibility to provide 60-day notice when terminating employees

CA Sales Tax Relief: CA extends tax return due dates, offers relief from penalties and interest

San Francisco Small Business Resiliency Fund: Business with between one and five employees an apply for up to $10,000 in emergency funding to help cover rent and employee salaries

Defer Business Taxes and Licensing Fees in SF: Defer payments due to February 2021 with no interest, fees, or fines for business with up to $10 million in gross receipts

San Francisco Utilities Relief: Water and power will no longer be shut off due to delinquent payments.

Los Angeles Small Business Emergency Microloan Program: Loans up to $20,000 for small businesses

City of Oakland Business Tax Relief: Late payment penalties resulting from failure to file taxes due March 1 will be waived

Other Coronavirus Small Business Assistance

Employer Resources by State: The most recent guidance by state

An Employer’s Guide to Navigating the Coronavirus: A guide to minimizing the impact of the virus on your workplace

Facebook Small Business Grants Program: $100 million in cash grants and ad credits for up to 30,000 small businesses

Amazon Neighborhood Small Business Relief Fund: Cash grants to businesses with fewer than 50 employees or less than $7 million in annual revenue near Amazon’s Seattle office

GoFundMe Small Business Relief Fund: Receiving a $500 matching grant when you raise $500 for your own qualified small business

The James Beard Foundation: Small or medium-sized businesses with less than 500 employees can apply for micro-grants for restaurants, bars, and other independent food and beverage operations

Interested in Working with Our Team?

Contact us to see how we can help you and your business.