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Some of the following resources may be helpful to small businesses and non-profits to mitigate the economic impacts of the pandemic.
On March 16, 2020, Alameda County was included in the declaration of an Economic Disaster area. Although SBA guidance is still being drafted regarding specific eligibility and administration of coronavirus assistance, it will be based on the traditional SBA Economic Injury Disaster Loan (EIDL) program. As additional information is released, we will pass this along.
Some criteria from the traditional SBA Economic Injury Disaster Loan (EIDL) program will apply for COVID-19 loans:
You can apply for assistance at the following website, and paper forms are available here.
The Alameda County Small Business Development Center (ACSBDC) recommends that you register for assistance with the ACSBDC, who can assign an advisor to help you apply for these funds. The registration process is straightforward and can be completed online at www.acsbdc.org , click the “Apply” button.
The State Infrastructure and Economic Development Bank operates two programs that could be of assistance to businesses. First, the Disaster Relief Loan Guarantee Program (DRLGP) issues loan guarantees of up to 95 percent of the loan through its partner Financial Development Corporations to help small business borrowers who were impacted by disasters and who need term loans or lines of credit for working capital. Small businesses with less than 750 employees that have suffered an economic loss may apply. This program provides loan guarantees of up to $1 million for small business borrowers in declared disaster areas.
Second, the Jump Start Loan Program is offering loans from $500 to $10,000 to low-wealth entrepreneurs in the declared disaster and emergency areas. Eligible applicants include businesses owned by women, minorities, veterans, people with disabilities and those previously incarcerated.
For either the DRLGP or the Jump Start Loan Program, applicants apply through the states partnering Financial Development Corporations. The list of corporations and more information on the programs is located here.
SF Made has expanded its advisory services to the entire nine-county Bay Area. SF Made has advisors skilled with manufacturing industries that are ready to assist with crisis management. To be assigned an advisor, contact Pierre Coeurdeuil, Advising & Education Manager at 415-408-5605 ext 11.
The City of Emeryville has issued guidance to employers regarding the City’s Paid Sick Leave requirements. Employers are encouraged to contact April Shabazz at 510-596-4316 with any questions regarding this or any of the City’s labor standards.
The State Employment Development Department (EDD) has compiled resources for impacted employees at this link; employers are encouraged to share this information with employees. In particular, EDD’s Work Sharing program could help minimize the need for layoffs for certain situations. More information is here.
Employers are encouraged to contact the Alameda County Workforce Development Board’s Rapid Response Coordinator, Javier Contreras at 510-259-3831 if your company is considering a closure or layoff. Rapid Response teams will meet with you (telephonically) to discuss your needs and provide services to assist impacted workers. Employers of all sizes considering layoffs are encouraged to contact Javier as collecting data on the economic impact of the pandemic is important to inform future relief programs.
The East Bay Community Foundation has established “COVID-19: A Just East Bay Response Fund”. In its first phase this fund will provide one-time general operating grants to organizations that provide critical services around economic security to the most vulnerable populations in the East Bay. For more information on this effort contact Alexandra Aquino-Fike, Vice President of Development.
For more information, insights on your experiences in accessing these programs, understanding whether and how they benefit your business/employees, or to provide feedback on your interactions with these programs, please contact Chadrick Smalley, Economic Development & Housing Manager at 510-596-4355. Also, please forward this information to your networks, including your business peers, employees and friends who might benefit from this information.