COVID-19: Updates & Resources

There’s been a lot of information coming in very quickly and of course the landscape is constantly changing with COVID-19. We’ve been monitoring local city, county and federal orders, as well as gathering resources to help our businesses and community. We hope these are helpful.

 

 

(This page was updated on July 14, 2020)

Here is the latest public health order as of July 13 2020.
Los Angeles County will stop certain sector operations as ordered by the State. Closures include: all personal care services – including nail salons; massage & tattoo parlors; hair salons & barbershops; places of worship; gyms and fitness centers; offices of non-critical sectors; indoor malls and all indoor protests until further notice.

 

If you need resources or support, please contact the Chamber at hi@lomitachamber.org. We are working with our Local, County, State and other leaders and Partners to provide information and help. 

 

For more info visit the LA County Public Health Dept’s COVID-19 page.

 

LACOVID FUND

• There are 6 total rounds (7/6 – 9/21) with finalists notified after each round.
• Submissions with the following will be prioritized:
  • businesses operating in HUD LMI (lower- to moderate-income) tracts (go here to find out)
  • veteran-owned entities
  • revenues of less than $500k
• Application can be saved in process online; a copy of your completed submission is emailed to you.
• It is estimated that it will take about one week to hear if you’re selected as a finalist.

 

SBDC Webinars: PPP Forgiveness, Reopening Resources & Protocols

The LA SBDC is pleased to partner with LA County to detail reopening protocols and resources for small businesses. Each week in the 4-part series they focus on a different business type.

Check out the SBDC full list of webinars & recordings here.

 

Please contact us with any questions.

 

Other Funding Options

 

Save Small Business Fund – 90717-based businesses are eligible!

To extend a helping hand to small businesses suffering from the impacts of the coronavirus pandemic, the U.S. Chamber of Commerce Foundation – in partnership with Vistaprint and a coalition of supporting companies, foundations, and philanthropic donors – is working to provide financial relief through the Save Small Business Fund. This fund is a key pillar of the U.S. Chamber’s Save Small Business Initiative.

The Fund is providing $5,000 in short-term relief to employers across the United States. These one-time supplemental cash grants are for businesses that have between three and 20 employees and operate in an economically vulnerable community. The grant application will go live on Monday, April 20 at Noon PT you can sign up for an email reminder as well. To learn more about the Save Small Business Fund and to apply for a grant, visit savesmallbusiness.com.

 

Main Street Lending Program

The Federal Reserve will facilitate banks making loans to businesses fewer than 10,000 employees which can include small businesses. Smallest loan amount for Main Street loans is $1million made by normal banks. To encourage banks, the Federal reserve will buy 95% of loan from the bank. For those not eligible for PPP or need additional assistance beyond the PPP, you can also apply for the Main Street loan. You’ll want to talk to your bank about how you can take advantage of this.

• No minimum company size requirement for eligibility for Main Street loans (sole proprietors, self-employed business owners, and companies with fewer than 500 employees may apply.)
• Main Street loan sizes vary based on the lending facility.
• Interest rates on Main Street loans are variable and right now range from 2.5 percent to 4 percent
• Repayment term for Main Street loans is four years.
• Main Street loans may not be forgiven.
• Companies need to have at least $250,000 in earnings before interest, taxes, depreciation and amortization (EBITDA), and no debt. Companies with debt have higher EBITDA requirements.
• Businesses that don’t meet the requirements of the Main Street program should stay apprised of the status of the PPP, which is expected to soon win congressional approval for new funding.

LA County Employer Assistance Grant Fund information

Grant Fund Total = $500,000 dollars
➢ Note: Approximately 25% of awards are reserved for social enterprises that demonstrate a need and ability to serve vulnerable populations.
➢ Grant Award Amount = Up to $10,000, based on demonstrated need.

The application portal will open Thursday, April 9th, at 8:00 am. 
Funds are limited, the first round of applications will be processed on a first-come-first-served basis and will close once 150 applications are received or at 8:00 am on Wednesday, April 15, whichever is first.

• View details about program, documents and budget sheet required, and eligibility here   
   
• Application Portal click here (opens 8 AM on Thursday, April 9th)

 

Business Risk Planning – Small Business Development Center (SBDC)

 

Local, State & Federal Resources

• LA County Public Health Dept.
• Guidance for Food Facilities
• City of Lomita
• Lomita Coronavirus information and udpates.
• Lift Up Lomita
• Small Business Development Center at El Camino College
• Small Business Administration (SBA) Economic Injury Disaster Loan
• SBA Guidance for employers to plan and respond to COVID-19 
• Centers for Disease Control (CDC) 
• Guidance on Preparing Workplaces for COVID-19 (Dept of Labor, OSHA)
• Cal/OSHA Guidance on Requirements to Protect Workers from Coronavirus
• Employment Development Department (EDD) – Reduced Work Hours – Unemployment Insurance Work Sharing Program – alternative to layoffs. Employer Info and Information for Workers.
• EDD Tax Assistance – request a 60-day extension to file payroll and more. Call the EDD Taxpayer Assistance Center 1-888-745-3886 (toll-free).
• CA Infrastructure and Economic Development Bank (IBANK)