COVID-19: Updates & Resources
The County Health Officer Order amended 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.
A few things to know:
- 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.
New COVID-19 Wastewater Rebate Programs
The Sanitation Districts have created a new rebate program to aid businesses whose sewer usage was reduced due to the COVID-19 stay-at-home orders. Your business may qualify for a rebate if it closed or had reduced wastewater (sewage) discharges due to COVID-19. This COVID-19 Rebate Program provides a partial rebate of the fiscal year 2019-20 Sanitation District service charge payment made on your property tax bill. They also have a Low-Water Rebate Program open to all ratepayers that generate below average amounts of wastewater. For more details about rebate programs, email firstname.lastname@example.org or visit www.lacsd.org/covidrebate.
Reopening Protocols & Guidelines
The following guidelines are provided by the California Department of Public Health for different business sectors and industries to help with reopening. Statewide industry guidance can be accessed here.
LA County also has its reopening protocols.
Industry protocols are available at the County’s website.
The Chamber continues to gather information and resources to help businesses gain greater clarity in reopening protocols.
Please contact us with any questions.
Lomita Chamber Community Calls
In April 2020, the Chamber went into response mode and has held a series of Business and Community Calls to inform our businesses and residents about the latest available support during the COVID-19 pandemic.
As the Paycheck Protection Program (PPP) and Small Business Administration’s Economic Injury Disaster Loan (EIDL) programs continue to process applications, some businesses have received funding while others are waiting. It is advisable to continue to speak with your bank or find a bank that is accepting new clients to assist you with the PPP process and continue to follow up with the SBA (or work with our partners at SBDC) for the status of your EIDL loan application.
Other Funding Options
- Facebook Small Business Grants Program
- James Beard Foundation Food and Beverage Industry Relief Fund
- Kiva US Small Business Loans
- Opportunity Fund COVID-19 Small Business Relief Fund
- Restaurant Workers Community Foundation COVID-19 Relief Fund
- The Main Street Initiative by Mainvest
- Verizon and LISC Small Business Recovery Fund
- Jewish Free Loan Association
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)
Coronavirus Small Business Loan Info
3 easy-to-understand guides to all federal programs and aid for small business coronavirus assistance:
- 10 Commonly Asked Coronavirus Small Business Loan Questions
- How to Get a Coronavirus Emergency Paycheck Protection Loan
- A Step-by-Step Guide on How to Apply for an SBA Economic Injury Disaster Loan
See more coronavirus resources provided by US Chamber of Commerce
Starting April 3, small businesses and sole proprietorships can apply for loans. Starting April 10, independent contractors and self-employed individuals can apply for loans. There is a funding cap, so the Treasury Department recommends applying as soon as possible.
- Coronavirus Small Business Emergency Business Loan Guide & Checklist (Spanish version here)
- One-sheet guide to SBA’s Economic Injury Disaster Loans (EIDL)
- One-sheet guide to employee retention tax credit for COVID-19 impacted employers
- Apply for SBA EIDL here
Paycheck Protection Program
U.S. Department of Treasury issued additional guidance yesterday regarding the Paycheck Protection Program. Links to the resources provided by Treasury can be found, or on their webpage.
Business Risk Planning – Small Business Development Center (SBDC)
Advisors are available at the Small Business Development Center at El Camino College to help businesses adapt to the current situation. We encourage businesses to schedule a virtual consultation with the SBDC by calling 1-866-588-SBDC.
Their advisors can help you walk through important decisions you may need to make now related to cash flow, deferred payments and assistance for employees due to business interruption.
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)
What can you do today…
- Overcommunicate with your customers and clients. Ask them what they need.
- Know this is temporary. It’s constantly shifting. You won’t have all the answers and it’s okay to say I don’t know.
- Prepare your business financially by walking through worst-case scenarios projecting out over the next 6 to 8 weeks or longer in order to know what you can do today from a cash flow perspective. Even if this does blow over sooner than later, it’s better to plan and take precautions.
- Partner together with vendors to find ways to help defer expenses or offer support or trade services if cash flow is going to be a concern.
- Think about how you can offer services virtually or via delivery (i.e., Zoom Zumba classes, virutal open box parties to showcase new merchandise for online sales, or curbside and food delivery services).
- Rather than cancelling service, think about the small businesses that won’t be here after the pandemic is over if we don’t invest in them. If you’re in a financial position to continue to pay for services, please do.
We will get through this together. Your Chamber is here to help.
Please contact us via email email@example.com or call 424-378-7111.
Support local businesses safely!
This content is for information purposes only and information provided should not be considered legal, accounting or tax advice or a substitute for obtaining such advice specific to your business.