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Paycheck Protection Program
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First Draw Borrower Application Form
Second Draw Borrower Application Form |
Up to $2 million non-taxable loan designed to provide a direct incentive for small businesses to keep their workers on payroll.
Ends May 31, 2021.
Loans will be forgiven if all employee retention criteria are met.
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501(c)6 organizations, news media outlets, and housing cooperatives are eligible in addition to other qualified organizations.
Organizations with 500 full-time employees or less.
No publicly-traded companies.
Can demonstrate a decrease in revenue of at least 25% during any of the first three quarters of 2020. |
Shuttered Venue Operators Grant
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Application expected to open in mid-to-late April.
Grant program for eligible live venues, theaters and museum operators that lost at least 25% of their revenue in 2020
Up to $10 million grant capped at 45% of an applicant's 2019 revenue |
Eligible small business entity in operation as of February 29, 2020 and with up to 50 employees.
Those that experienced at least 90% revenue losses between April 2020 and December 2020 are eligible to apply during the first 14 days of the program.
Those that experienced at least 70% revenue losses are eligible to apply during the next 14-day period.
Those that experienced at least
25% revenue losses are eligible to apply 28 days after other priority awards are distributed.
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FAQ
SBA Application |
Designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to COVID-19.
For working capital & normal operating expenses
Non-forgivable loan with fixed terms of 3.75% for businesses and 2.75% for nonprofits over 30 years
Loans approved starting the week of April 6, 2021 can receive 24 months of economic injury with a maximum loan amount of $500,000. For those after April 6, loan amount may exceed the current maximum.
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Priority given to:
- Small business owners and nonprofit organizations with 300 or fewer employees.
- Located in a low-income neighborhood.
- AND experienced a 30% reduction in gross receipts during any 8-week period between March and December 2020. |
Small Business Debt Relief Program
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More Information
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6 months of debt forgiveness for small businesses with standard SBA 7(a), 504, or microloans.
Payments capped at $9,000/month
Not applicable for Paycheck Protection Program loans or Economic Injury Disaster loans |
Borrowers with loans approved by the SBA prior to the CARES Act will receive an additional three months of payments beginning in February of 2021. |
USDA Business and Industry CARES Act Program
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More Information
Fact Sheet |
Up to $10,000,000 loan
Offers 90 percent loan guarantees for loans made to rural businesses and agricultural producers to supplement their working capital to prevent, prepare for and respond to the economic impacts of the coronavirus.
Apply through your local lender.
Interest rates are negotiated between the lender and borrower. |
Must be a rural business in operation as of Feb. 15, 2020.
Must be in a rural area outside of a city or town with a population of fewer than 50,000 people. |
Employee Retention Tax Credit
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Program Updates
West Coast Chamber Video
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Eligible employers can now claim a refundable tax credit against the employer share of Social Security tax equal to 70% of the qualified wages they pay to employees after December 31, 2020, through June 30, 2021.
Qualified wages are limited to $10,000 per employee per calendar quarter in 2021.
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Employers with 500 or fewer employers who experienced a decline of more than 20% in gross receipts in a quarter compared to the same quarter in 2019. |