Dear Woodland Business Community,It is our commitment from the City of Woodland's Economic Development & Food Front team to provide you with COVID-19 related business support as information becomes available to us. We encourage you to periodically visit our COVID-19 Business & Employee support page and the business & employee FAQ page, which outline topics such as financial resources, workforce employment support (UI, workshare, etc.), and more. If you have any questions and would like to get in touch with us, please send us a message at the email addresses provided at the bottom of this newsletter.
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The following is covered within this newsletter: - Financial assistance overview for local businesses (SBA loans & advances
- Sacramento Metro Chamber launches COVID-19 business assistance hotline
- The Woodland Chamber Of Commerce provides continued support to businesses
- YoloWorks opens hotline for job seekers and current employees affected by COVID-19
- City of Woodland Moratorium on Commercial and Residential Evictions
- Add your business to the publicly available database of Woodland restaurants, cafes, breweries, and wineries offering curbside and home delivery
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Financial assistance overview for local businesses (SBA loans & advances)Resources are available throughout California for small businesses impacted by COVID-19. Two vital programs, the Paycheck Protection Program and the Economic Injury Disaster Loan are available now.
Please note that the SBA is hosting numerous WEBINARS to help you navigate the resources outlined within the section below. REGISTER HERE. 1. Paycheck Protection Program This forgivable loan helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. - This is a 100% guaranteed loan for employers who maintain payroll.
- The maximum loan amount is calculated on past year’s payroll up to $10 million.
- The loan is forgivable on allowable expenses which include payroll costs, mortgage interest, rent and utilities, but at least 75% has to be for payroll. Your payments will be deferred for 6 months.
- The program opened Friday April 3rd. Details can be found HERE.
- Reach out to your lender or find a small business center to help you HERE.
2. EIDL Loan Advance This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.- The SBA’s COVID-19 Economic Injury Disaster Loan program is a direct loan by the SBA for up to $2 million at a rate of 3.75% for small businesses and 2.75% for nonprofits.
- Now, applicants can get an Advance on the Economic Injury Disaster Loan of up to $10,000 within 3 days of a successful application. Any advance money received does not have to be repaid.
- To apply directly online, go to the SBA Website HERE.
- US SBA 24hr Customer Service Center at: 1-800-659-2955 / 1-800-877-8339 (TTY), or you can contact the SBA by email HERE.
**PLEASE NOTE**- If you submitted an EIDL application prior to March 30, unless you have already been approved or are currently working with a loan officer, you should re-apply using the new streamlined application portal – https://covid19relief.sba.gov/#/ – if you have not done so already. The new application is streamlined and faster.
- If you submitted an EIDL application on or after March 30 but you overlooked or forgot to apply for the $10,000 EIDL Advance, you should submit another application in full rather than attempt to retrieve and edit the old one.
- Relationship between PPP & EIDL: Please access the bottom last three questions of the City's FAQ page for more info.
- Additional programs are available through the SBA for Woodland businesses that have an existing relationship with an SBA Lender and/or an existing SBA 7(a) loan.
3. SBA Express Bridge Loans These loans enable small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.- SBA Express Bridge Loans (EBL) are now available from participating lenders. The EBL program was officially re-launched on Wednesday 4/1/2020 via a Federal Register Notice – https://www.govinfo.gov/content/pkg/FR-2020-04-01/pdf/2020-06356.pdf.
- SBA’s web site contains new information about the program: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-express-bridge-loans
- The Bridge Loan allows participating SBA Express lenders to extend up to $25,000 loans to their existing bank customers as a stop-gap solution to get funds in the hands of businesses while they await a decision on the EIDL and/or PPP applications. The loan is repaid later with proceeds from the EIDL or PPP loan.
- Ask your current business lender if they are participating. You cannot get an EBL from a lender you do not already have a business relationship with. EBL is a lender-driven program, and lenders have the discretion to use it or not.
4. SBA Debt Relief For businesses that have existing SBA loans prior to COVID-19, the SBA is providing a financial reprieve to small businesses affected by the COVID-19 pandemic.- If you are a current borrower under SBA 7(a), 504 loan program or a microloan, you are eligible for debt relief and SBA will cover all loan payments for 6 months. View all of SBA’s programs HERE.
Business Taxes State and federal tax filing deadlines have been extended. As shared by the State Franchise Tax Board, tax file and pay deadlines have been extended to July 15, 2020.
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Sacramento Metro Chamber launches COVID-19 business assistance hotlineThe Rapid Response Business Triage Hotline was launched via a collaboration between Metro Chamber and Sac Asian Chamber collaboration. Trained business counselors will assist callers with general business questions, human resources, legal issues and navigation of the various financing tools, including SBA Economic Injury Disaster Loans and Paycheck Protection Program.
The number for the hotline is 833-391-1919. - Languages: English, Spanish, Vietnamese and Mandarin.
- Business Counselors available Monday-Friday | 8-4 p.m.
- 24/7 voicemail capabilities to have your message forwarded to counselors.
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The Woodland Chamber Of Commerce provides continued support to businessesWe encourage you to contact our local Woodland Chamber of Commerce: general webpage: https://woodlandchamber.org/, COVID-19 webpage:https://woodlandchamber.org/covid/. The Chamber, in partnership with the City, is reaching out to its members to understand current and long term needs and impacts of COVID-19 on our local business community, and is dedicated to providing current and available information to its membership. Email staff@woodlandchamber.org to connect with this local resource.
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YoloWorks opens hotline for job seekers and current employees affected by COVID-19 - Yolo County COVID-19 support hotline: As of 1 April, YoloWorks has opened up a phone hotline (English & Spanish) at 530.661.2641 (open Mon-Fri from 8-4pm) to assist Yolo County job seekers / employees with questions on unemployment benefits and navigating the available resources in response to COVID-19. Please share this resource with any job seekers and current employees affected by COVID-19.
- Hiring support: Are you hiring? YoloWorks has dedicated resources towards disseminating jobs on their hiring portals and helping our job seekers connect with employers. Their recent post for job openings have been shared with over 12k people this past week. If you are hiring, please contact Erica Johnson, HHSA Program Coordinator from Yolo County Health and Human Services Agency: Erica.Johnson@yolocounty.org. Please spread the word to any job seekers within your circle to the following job matching websites: YoloWorks Career Center | YoloWorks Yolo County Job Seekers Portal | OnwardCa California COVID-19 Response Job Portal
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City of Woodland Temporary Moratorium on Commercial and Residential EvictionsOn March 17 and on March 31, the Woodland City Council passed Urgency Ordinances Imposing Temporary Moratoriums on Residential and Commercial Evictions and providing relief for utility discontinuances and late fees in the City of Woodland. Both ordinances are available on the City’s COVID-19 Business & Employee support page. Landlords in Woodland have indicated they are willing to work with tenants on a case-by-case basis to mitigate impacts related to COVID-19. If you are facing eviction due to your inability to pay rent for reasons related to COVID-19 and your landlord has exhibited an unwillingness to work with you, we would like to hear from you. Please see Economic Development staff contact information at the close of this newsletter.
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Add your business to the publicly available database of Woodland restaurants, cafes, breweries, and wineries offering curbside and home deliverTo facilitate safe food access for our community while supporting our Woodland restaurants, cafes, breweries and wineries during shelter-in-place, a new webpage of Woodland food businesses open for curbside and home delivery is available here for the public: https://bit.ly/2y2nyiA.
This link is periodically communicated to our community via Facebook: @TheFoodFront ; @CityofWoodland ; @WoodlandEconDev and Instagram: @TheFoodFront To submit modifications to this database, please email Stephanie Burgos: stephanie.burgos@cityofwoodland.org.
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Contact your teamOur team is here to support you through this challenging time. Please contact us at the email addresses below (do not reply to this email). We look forward to connecting with you.
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