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.
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.
CALIFORNIA STATE UNIVERSITY, LONG BEACH
The CSULB College of Business, through its Legal Studies in Business Program and Legal Resource Center, is offering an online Certificate in Business that provides comprehensive instruction on laws and procedures relevant to small business entities. The course is FREE, begins March 1, 2021, and includes eight weeks of online instruction and access to materials. Registratio closes January 31 2021. Contact the College of Business here for more info and to request enrollment.
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.Miller