***Please note that these resources are guidance and are not legal requirements. Please make sure to follow your applicable city, county and state laws with regard to COVID-19 requirements.
Protocols for Retail Establishments Opening for Curbside Pickup on Friday, May 8, 2020 – find them here
Small Business Administration Approved Lenders for Paycheck Protection Program Loans and Economic Injury Disaster Loans. – Funding for the PPP and EIDL loans has reached capacity at this time (4.16.20). New applications are not currently being accepted. We expect further updates about the program shortly. In the meantime, we encourage you to explore other opportunities at the local, county and state level. Click here for a PPP loan forgiveness calculator.
The U.S. Senate Committee on Small Business & Entrepreneurship Small Business Owners Guide to the CARES Act
Los Angeles County Economic Development Corporation – Layoff Alternative Program information
Small Business Resources from Google including: communicating with your customers, employees, pivoting your advertising strategy and more
City of Los Angeles Economic & Workforce Development Department – Business Transition Services
In partnership with the Chamber, the Small Business Development Center (SBDC) offers complimentary one-on-one consultations for small businesses in Beverly Hills, in addition to complimentary educational seminars.
4.23.20 Small Business Development Center Webinar: EIDL & PPP Loan Updates & Other Relief Programs – view the presentation here. Watch for an update by Larry Johnson, Director at the Small Business Development Center (SBDC) at El Camino College. Mr Johnson reviews the status of the existing Federal Government support programs, EIDL & PPP, as well as identifying other viable relief programs offered by State and Local Government as well as private industry. View the slideshow here.
4.15.20 Podcasting Your Healthcare Practice and Building Your Audience Webinar by BHCC Health & Wellness Committee – view the presentation here. Chris Machetto, CEO, Frenchy Digital discusses how to effectively create a podcast for your healthcare practice. With many practices closed due to COVID-19 now is an ideal time to reach your patients, and future patients, through an engaging podcast.
4.14.20 Restaurant Industry Options in the midst of COVID-19 by the SBDC – view the presentation here. This webinar features key industry leaders from major national restaurant and foodservice delivery businesses, including US Foods, Kraft Foods, Taco Bell, and KFC, as well as several successful local restauranteurs.
4.1.20 Effectively Market & Communicate Online During COVID-19 featuring SBDC expert Deborah Deras – view the video presentation here. In today’s new world dealing with COVID-19, and staying at home, businesses have a captive audience who is online virtually all of their waking hours.
3.25.20 SBDC Economic Injury Disaster Loan Overview – view the presentation here. Features Larry Johnson, Director, SBDC at El Camino College, with critical information about resources and assistance available to businesses affected by COVID-19. Amongst other resources, your business may be eligible for an Economic Injury Disaster Loan (EIDL), other resources available through the Small Business Administration (SBA) as well as other federal, state and local resources.
Click here for a list restaurants, markets and pharmacies serving our community with takeout & delivery options.
Click here for additional member offers.
|What Financial Relief Programs are Available for Beverly Hills Businesses Impacted by COVID-19?|
|Program Name||Type||Why||What||Benefits||More Info||How to File|
|SBA Disaster Assistance – Economic Injury Disaster Loan (EIDL)||Loan||If you are in need of economic support to help overcome the temporary loss of revenue.||Low interest disaster loans to help business recover from declared disasters.||SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance. The interest rate is 3.75% for small businesses.||Learn more about your eligibility for SBA Disaster Assistance|
|SBA – Economic Injury Disaster Loan (EIDL) Advance||Loan/Grant||Small business owners currently experiencing a loss of revenue.||Loan advance. First apply for Economic Injury Disaster Loan and then request advance. Advance does not need to be repaid under any circumstance even if you are not approved for the loan.||Loan advance of up to $10,000. Funds will be made available within 3 business days of a successful application. Can be used on payroll, debts, rent, and mortgage payments.||Learn more about your eligibility for SBA Disaster Assistance|
|SBA – Express Bridge Loan Program||Loan||If you are in need of immediate economic assistance while waiting on long-term financing.||Provides express financing to help small businesses recover from COVID-19.||The maximum gross loan amount is $25,000.||Please visit: www.SBA.gov|
|SBA – Debt Relief Program||Grant||Current businesses with SBA loans that are impacted by COVID-19.||Businesses with current SBA Loans including current 7(a), 504, and microloans can get debt relief.||SBA will automatically pay the principal, interest and fees for a period of 6 months.||Please visit: www.SBA.gov|
|Paycheck Protection Program (PPP)||Loan/Grant||If your business is impacted by COVID-19 and wants capital to cover the costs to maintain payroll or receive assistance in paying rent, utilities, or interest payments on a mortgage.||Cash-flow assistance through 100% federally guaranteed loans to employers who maintain their payroll during this emergency.||Forgivable loans up to $10 million to cover up to 8 weeks of payroll, no SBA fees, and at least 6 months of deferral with a max deferral of 1 year. For any amounts not forgiven, max term is 10 years, interest rate of 4%. No loan fees and no prepayment fee.||Please visit this site|
|CA iBank Disaster Relief Loan Guarantee Program||Loan||If your business is experiencing capital access barriers in light of a declared disaster.||Provides loan guarantees and direct loans for small businesses.||Loans up to $20 million; max guarantee $1 million, guaranteed up to 7 years (term can be longer); and guarantees up to 80% – 95% of loan.||Please visit www.ibank.ca.gov for additional information|
|EDD Work Sharing Program||Layoff Aversion||If business interruption or slowdowns are causing layoff considerations.||Business assistance to employees and employers.||Full-time employees receive Unemployment Insurance benefits, keep current job, and avoid financial hardships.||Please visit: www.EDD.ca.gov|
|EDD Tax Assistance||Deferrment||Employers experiencing hardship as a result of COVID-19 may request extension for filing payroll taxes.||Extension of up to 60 days without penalty or interest on payroll reports and payroll taxes.||Extension without penalty to retain needed capital during COVID-19.||Please visit this site||
Call the EDD Taxpayer Assistance Center: 888-745-3886.
|LA County Employer Assistance Grant Fund||Grant||Business impacted by COVID-19 in Los Angeles County that demonstrate significant economic hardship as a result of COVID-19.||LA County to provide grants of up to $10,000. Applications will close after 150 applications have been received. Total of $500,000 to award. Between 2-50 full-time employees and under $2 million in annual revenue.||Funds may be used for utilities, rent, inventory, mortgage payments, operational costs.||Priority given to businesses in unincorporated areas of LA County. FAQ can be found here.|
|LA County Community Development Authority – Small Business Recovery Loan Program||Loan||Any for-profit business with 25 or fewer employees located within the unincorporated Los Angeles County or city participating in the County’s Community Development Block Grant Program is eligible. (Beverly Hills is within the program area)||Loan proceeds may be used for working capital, including payroll or rent. The maximum loan amount is $20,000 with a term of five (5) years.||Principal and interest payments deferred for the first 12 months. No collateral needed.||Please visit: www.lacda.org|
|LA County Property Tax Relief||Deferment||Business property taxes are due on April 10. While the County is not able to extend the deadline, businesses can submit a request for a penalty cancellation online.||Businesses that can demonstrate a need to pay property tax late due to COVID-19 may submit a penalty cancellation request online.||Can pay partial payment or no payment with no penalty charge assessed.||Please visit this site|
|Jewish Free Loan Program||Loan||If you are a business or individual with urgent financial needs.||Jewish Free Loan offers interest-free loans on a non-sectarian basis to those affected by COVID-19.||Loans up to $10,000 can be turned around in a matter of days. No fees. No interest.||Please visit www.jfla.org for additional information|