CURRENT COVID-19 BUSINESS RESOURCES
Review the guide below to learn more about current COVID-19 business resources that have recently been announced or updated. Stay up to date by visiting our COVID-19 Business Resource page regularly. CLICK HERE. For more information on the resources from the American Rescue Plan, join our upcoming webinar on April 19 at 12:00 pm. CLICK HERE TO REGISTERGrant Opportunities
CA Small Business COVID-19 Relief Grant Program
UPDATE: Round 6, opening April 28 at 9:00 am and closing May 4 at 5:00 pm, will be accepting new applications from businesses and nonprofits that have not applied to previous rounds. Waitlisted applicants from previous rounds will be automatically rolled over. Nonprofits that only applied during Round 4- The Arts & Cultural Program, can also apply to Round 6 if they meet the eligibility criteria. Learn more CLICK HERE. Shuttered Venue Operators Grant (SVOG) Program
UPDATE: Due to technical difficulties, SBA has temporarily suspended the SVOG application portal. The SBA will share advance notice of the time and date before the reopening so all applicants can be prepared and to ensure equitable access. For now, applicants may continue to register for a new account. To access the application portal CLICK HERE. Learn more the program and eligibility requirements CLICK HERE. To receive a SVOG or access any federal government grants, your business will need to register for a free System for Award Management (SAM) number. Steps:
- Create a Login.gov account at https://login.gov/.
- Sign up for a Dun & Bradstreet D-U-N-S® Number if you do not already have one at https://fedgov.dnb.com/webform/index.jsp. This typically takes 1-2 days to process.
- Register with SAM at https://sam.gov/SAM/using your Login.gov information, DUNS number and standard business information (such as your Tax ID Number). It can take up to 2 weeks to receive your SAM number.
- Do not register for a SAM number on any other website or pay for a SAM number.
- For more information on this process view the SAM.gov Registration Training video CLICK HERE.
Restaurant Revitalization Fund (RRF)
NEW: The new American Rescue Plan Act established a $28.6 billion “Restaurant Revitalization Fund” (RRF) within the U.S. Small Business Administration (SBA). An eligible business may receive a tax-free federal grant equal to the amount of its pandemic-related revenue loss, calculated by subtracting its 2020 gross receipts from its 2019 gross receipts. The Restaurant Revitalization Fund is NOT yet accepting applications. More information coming soon.
UPDATE: RRF does NOT require a SAM number, DUNS number or CAGE code.
COVID-19 Joint Response Effort for Santa Barbara County
Grants to individuals for those disproportionately impacted by COVID-19 and the economic consequences of the pandemic and organizations actively engaging COVID-19 assistance efforts, providing essential services, reduced services due to COVID-19 and need operating support.
ROLLING DEADLINE
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Loan Opportunities
Paycheck Protection Program (PPP)
UPDATE: PPP was recently extended to May 31, 2021. Montecito Bank & Trust is currently accepting applications for first and second draw PPP loans from businesses in Ventura and Santa Barbara Counties through April 23, 2021. Visit their website to learn more CLICK HERE. DEADLINE: May 31, 2021
Economic Injury Disaster Loan (EIDL)
UPDATE: COVID-19 EIDL Loans approved prior to April 7, 2021 for less than $500,000 are likely eligible for an increase based on new loan maximum amounts announced March 24, 2021. Businesses that received a loan subject to the previous loan limit can submit a request for an increase at this time.
Interested in increasing your COVID-19 EIDL amount?
- Review email communications from the SBA. The SBA is now reaching out directly to loan borrowers via email to provide more details on how businesses can request an increase. Borrowers should expect to receive emails from @sba.gov or @updates.sba.gov addresses.
- Email CovidEIDLIncreaseRequests@sba.govusing the subject line “EIDL Increase Request for [insert your 10-digit application number]”
- Be sure to include in the body of your email identifying information for your current loan including application number, loan number, business name, business address, business owner name(s) and phone number.
- Important: Do NOT include any financial documents or tax records with your initial request. You will receive a follow up email notification if the SBA needs additional documents.
DEADLINE: December 31, 2021
California Rebuilding Fund
Loan program to support California’s small businesses (especially those located in economically disadvantaged and historically under-banked areas of the state) that are flexible, transparent and are designed to help businesses access the capital and advisory services they need to get through these challenging economic times. Learn more CLICK HERE. EDC Loan Program
Affordable capital can be accessed through the EDC Loan Program. Each applicant is paired with one of our top tier financial advisors to ensure that you have the best access in reaching the capital you need. With five regional loan funds and low-interest rates, the EDC maintains a commitment to reaching underserved communities. Learn more CLICK HERE.
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Housing Related Assistance
UPDATE: View our EDC Guide for Advisors, Tenants and Landlords During COVID-19 for immediate recommended actions, negotiation strategies and resources for residential and commercial renters. CLICK HERE. California COVID-19 Rent Relief Program
NEW: If you’re an income eligible renter who has experienced a financial hardship due to COVID-19 and have past due rent, or you’re a landlord who has experienced a loss in income because of unpaid rent, you may be eligible to get financial assistance now through the CA COVID-19 Rent Relief program. The program is not first come first served, rather priority will be given to those households with the greatest risk of being evicted. Learn more and apply directly CLICK HERE. County of Santa Barbara Rental and Utility Grants
Emergency rental and utility assistance for eligible County of Santa Barbara residents that have experienced a loss of income due to the COVID-19 pandemic and can demonstrate the need for rental support. Learn more CLICK HERE.
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Tax Credits
Employee Retention Tax Credit
The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted December 27, 2020, amended and extended the employee retention credit (and the availability of certain advance payments of the tax credits) under section 2301 of the CARES Act. Learn more about recent changes and how to access ERTC CLICK HERE. Worker Opportunity Tax Credit
The Work Opportunity Tax Credit (WOTC) is a Federal tax credit available to employers for hiring individuals from certain targeted groups who have consistently faced significant barriers to employment, including qualified long-term unemployment recipients.
DEADLINE: December 31, 2025
Social Security Employee and Employer Portion Deferral
The payroll tax deferral period for social security tax began on March 27, 2020 and ended December 31, 2020.
DEADLINES: The deferred deposits of the employer’s share of Social Security tax must be deposited
- On December 31, 2021, 50 percent of the eligible deferred amount ; and
- On December 31, 2022, the remaining amount.
Sales and Use Tax Extension to File and Pay
Small businesses are encouraged to use the sale tax they have already collected to float any applicable obligations. For a full schedule of program and tax due dates CLICK HERE.
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Unemployment Benefits
NEW: The Employment Development Department (EDD) recently released the following documents to help individuals understand the current unemployment benefits available.
Unemployment Insurance (UI) Benefits
Unemployment benefits are available for self-employed individuals and employees. If you have lost hours or wages due to the impact of COVID-19 apply for unemployment with the EDD. Apply for UI CLICK HERE. Pandemic Additional Compensation
UPDATE: An additional $300 federal stimulus payment automatically added to each week of benefits received from March 14, 2021, through September 4, 2021 (29 weeks). The EDD will automatically add the federal unemployment compensations to each week of benefits that you are eligible to receive. Pandemic Additional Compensation is also known as the Federal Pandemic Unemployment Compensation (FPUC). Learn more CLICK HERE. Pandemic Unemployment Assistance (PUA)
UPDATE: The American Rescue Plan extended PUA for an additional 29 weeks of benefits from March 14, 2021 to September 4, 2021. Pandemic Unemployment Assistance (PUA) is for unemployed Californians who are not usually eligible for regular Unemployment Insurance (UI) benefits, including business owners, self-employed workers, independent contractors or those with a limited work history who are out of business or have significantly reduced their services as a direct result of the pandemic. Learn more CLICK HERE. Pandemic Emergency Unemployment Compensation (PEUC)
UPDATE: Pandemic Emergency Unemployment Compensation (PEUC), for those who have exhausted their regular unemployment compensation benefits, is extended until September 4, 2021. Learn more CLICK HERE. EDD Workshare Program
The EDD Workshare Program allows employers to seek an alternative to layoffs – retaining their trained employees by reducing their hours and wages that can be partially offset with UI benefits. Note: Nonprofits are not eligible to participate in EDD Workshare. Visit the Work Sharing Program website to learn more about its benefits for employers and employees and how to apply CLICK HERE.
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PLEASE CALL IF YOU NEED ASSISTANCE
The EDC SBDC call team and experienced advisors are available to answer questions and help you navigate today’s complex business environment. The Economic Development Collaborative hosts the Small Business Development Center and is funded in part through a cooperative agreement with the U.S. Small Business Administration. Signing up as a client takes just a few minutes and provides you lifetime access to all of our no-cost services.
Get started today with no-cost consulting by calling our
Business Assistance Line at 805.409.9159.
Resources and advising are available in English and Spanish.
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