PAYCHECK PROTECTION PROGRAM
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The US Small Business Administration will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. Apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program. Find out more at https://sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program.
LA COUNTY REGIONAL COVID-19 RECOVERY FUND
The County of Los Angeles and City of LA, in partnership with institutional and corporate philanthropy, have come together to create the LA Regional COVID-19 Recovery Fund. Because financial, technical and cultural barriers have kept many neighborhood partners from accessing federal programs, the Fund provides additional support to underserved communities throughout LA County. Under the program guidelines, nonprofits are eligible for $15,000 grants by applying at https://lacovidfund.org/grants.
The first round of applications were accepted July 6 – 10. Subsequent applications will be accepted every other week through September 18. New applications are required for each round of funding.
LOS ANGELES COUNTY EMPLOYER ASSISTANCE GRANT FUND
Los Angeles County has launched a new $500,000 grant fund for businesses and nonprofits. Grants up to $10,000 are awarded based upon demonstrated need. Applicants must be for-profit corporations or non-profits with a for-profit activity, must have between 2 and 50 full-time employees, less than $2 million in gross receipts or annual revenue, and must demonstrate significant economic hardship as a result of COVID-19. The applications portal has closed, but you may still request placement on the waitlist at https://workforce.lacounty.gov/. For more information go to https://workforce.lacounty.gov/wp-content/uploads/2020/04/wdacs-covid-grant-fact-sheet-r3.pdf.
LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION
The Los Angeles County Economic Development Corporation (LAEDC) provides an online Coronavirus Response and Recovery Resource Guide to help for-profit and non-profit employers of every size, as well as their employees in LA County, survive and recover from the increasingly devastating economic impacts of the necessary government restrictions imposed to slow the transmission of COVID-19.
LOS ANGELES REGIONAL SMALL BUSINESS DEVELOPMENT CENTER NETWORK
Obtain funding options and legislative updates through the Los Angeles Regional Small Business Development Center (SBDC) Network’s COVID-19 Response Guide. The SBDC also offers information on applying for Small Business Administration loans. Click here to view the presentation.
LONG BEACH GIVES
Long Beach Gives was created as an annual fundraising event connecting generous donors and innovative nonprofits in order to improve quality of life and make positive change for Long Beach. This year’s event, slated to take place on September 24, 2020, has Long Beach Gives determined to raise $1,000,000 to help 150+ local nonprofits continue to make a difference in our community. To apply as a participant, visit https://longbeachgives.org.
For statewide resources, advocacy and support relating to the COVID-19 pandemic, visit https://calnonprofits.org/publications/article-archive/683-a-few-resources-for-nonprofits.
NATIONAL COUNCIL OF NONPROFITS
Stay informed on policy, share proven practices and find solutions through this nationwide resource. Visit https://councilofnonprofits.org/nonprofits-and-coronavirus-covid-19 for COVID-19 support.