Small Business Finance Center (SBFC)
The California Infrastructure and Economic Development Bank (IBank) and SBFC are offering three loan programs to businesses in affected disaster areas:
- California Disaster Relief Loan Guarantee Program for COVID-19
- Farm Loan Program (partnered with the U.S. Department of Agriculture, Farm Service Agency)
- IBank’s Jump Start Loan Program
San Francisco COVID-19 Small Business Resiliency Fund
Note: The application form is now closed.
The San Francisco COVID-19 Small Business Resiliency Fund allows small businesses impacted by COVID-19 to access up to $10,000 for rent and employee salaries. To be eligible, businesses must have between one and five employees and demonstrate a loss of revenue by $25,000 or more. They must also have less than $2.5 million in gross receipts and be engaged in activities that are regulated by the City and County of San Francisco. And they must have a license/permit for that regulation. Business owners can apply online.
Stockton COVID-19 Small Business Relief Grant
This grant program, sponsored by Main Street Launch, offers emergency grants of up to $3,000 to qualifying Stockton businesses negatively impacted by COVID-19.
City of Los Angeles Small Business Emergency Microloan Program
The emergency microloan program is providing loans to small businesses with amounts from $5,000-$20,000. It offers options of 0% interest rates for a term of up to 18 months, or 3% for a term of up to 5 years, with options of deferred payments. To be eligible, small business owners must:
- Have a Business Tax Registration Certificate with the City of Los Angeles’ Office of Finance that was filed prior to March 1, 2020.
- Have reasonable and responsible personal credit history and an acceptable explanation for any derogatory marks. Bankruptcies and debt write-offs must be at least 12 months old.
- Show that historical profits were sufficient to service the requested debt and have been impacted by COVID-19.
- Be located in Los Angeles boundaries.
- Demonstrate the loan will be used for eligible and reasonable working capital expenses.
Berkeley Business Continuity Grant and Relief Fund
The Berkeley City Council has approved $1 million for the Berkeley Business Continuity Grants, an emergency relief fund with an allocation of $1 million to help mitigate COVID-19 related financial losses that Berkley’s small businesses have suffered. To be eligible, a business must have minimum of one and a maximum of 50 employees, demonstrate at least a 25% reduction in revenues due to COVID-19, and use funds to cover payroll, rent, or working capital for the business to cover operational expenses.
In addition to the city-sponsored fund, Berkley is also running a crowdfunding project with the hope residents will match the funds made available by the city with a tax-deductible donation. Businesses can apply now.
Sacramento Small Business Emergency Economic Relief Loan Program
Note: This program is no longer accepting applications.
The City of Sacramento established a $1 million economic relief fund for businesses affected by COVID-19 and selected 101 local businesses to receive zero-interest loans. As of April 12, the city was no longer accepting new applications, but stated that, if additional funding became available, the application portal would reopen.
San Diego Small Business Relief Fund
The City of San Diego has established a Small Business Relief Fund (SBRF) to provide grants and forgivable or low- to zero-interest-rate loans to eligible small businesses for working capital. Approximately $6.1 million is available in the SBRF, which is being administered by the City of San Diego Economic Development Department. Small businesses can receive financial assistance in the form of loans or grants between $10,000 and $20,000. A list of FAQs is available online.