NEWS The coronavirus pandemic is affecting small businesses in California in a variety of ways. From the loss of business to remote work, things are changing fast during the COVID-19 outbreak, and companies are being forced to adapt.
Do you own or work for a small business in California? The first advice then is to stay safe, but the following advice is to make a plan for how to make your business survive financially during the COVID-19 outbreak.
There are plenty of ways to apply for support.
U.S. Small Business Administration (SBA) offers disaster assistance loans for up to $2 million for small businesses affected by the coronavirus. These low-interest loans are available to companies that have sustained “substantial economic injury” due to the spread of the coronavirus. Read more here.
At the Employment Development Department (EDD) you will find alternatives to layoff, like partial claims and work-sharing programs. Read more here.
San Francisco COVID-19 Small Business Resiliency Fun. Businesses with between one and five employees can apply for up to $10,000 in emergency funding to help cover rent and employee salaries. You must show that you lost 25 percent or more of your revenue, that you have less than $2.5 million in gross receipts and that you’re properly licensed to operate in San Francisco.
The quickest way to apply is to fill out an online application form and email it to investsf@sfgov.org. You’ll need to supply proof of payroll costs and lost revenue.
Crowdsourcing. Do you have a group of clients or customers that might be willing to help? Could you offer services or products for a lower price if they pay now for deliveries further ahead? Now is the time to get creative.
Facebook is offering cash and free ad credits. Read more about the program here.
TeamLogic IT is offering free advice and consulting to SACC-SF/SV members that, due to corona-crisis, are trying to navigate remote workforce solutions. Need help? Send an email to Johan Eriksson.
More to come.
Writer: Margaretha Levander
