City shares resources for business relief in Paso Robles
–The City of Paso Robles shared the following links and resources to help local businesses survive the shut-down:
Relief for Paso Robles businesses
The Federal government is poised to pass a roughly $480 billion relief package this week that includes new funding for small businesses hurt by the Coronavirus outbreak along with other priorities like money for hospitals and expanded COVID-19 testing.
Businesses are encouraged to apply now given that funds for this second round of assistance are likely to be exhausted quickly. If your business applied for relief before March 31 you should reapply. If you applied in April, applications will be addressed on a first-come-first-served basis. Businesses should be applying even while waiting for additional funds to be passed by Congress.
Paso Robles businesses can apply for relief through the following local eligible lenders:
- American Riviera Bank
- Bank of America
- Bank of the Sierra
- Chase Bank
- Founders Community Bank
- Mechanics Bank
- Pacific Premier Bank
- Pacific Western Bank
- Santa Barbara Bank & Trust
- U.S. Bank
- Umpqua Bank
- Union Bank
- Wells Fargo Bank
Video webinar: accessing federal relief funds
In this webinar, you will hear updates from SBDC Director Judy Mahan as well as local and national banking perspectives from Greg Bland and Lindsay Waylett on how they are managing administration of the SBA loan programs. Areas of focus include the Economic Injury Disaster Loan, Payroll Protection Program, Disaster Bridge Loan, 7(a) Forgiveness Program and ways your business can access them. Watch the webinar below:
State assistance for employers
California is providing broad assistance to small businesses and employers impacted by COVID-19. This includes:
- Small business interest-free deferral of sales/use tax up to $50,000 for businesses with less than $5 million in taxable sales.
- Federal small business stimulus programs:
- 90-day extension on all businesses filing a return for less than $1 million in taxes
- Small Business Disaster Relief Loan Guarantee Program (via IBank) $50 million in state funding, providing potential capital for individuals who do not qualify for federal funds.
Pandemic Unemployment Assistance
EDD will begin accepting applications for the Pandemic Unemployment Assistance Program (PUA) program on April 28.
The PUA will provide federally funded benefits for certain individuals out of work or partially unemployed due to COVID-19.
This includes the self-employed, employees who lack sufficient work history, independent contractors and gig workers.
Benefits will be issued within 24-48 hours – not the traditional 21 days for regular unemployment claims.