Menifee Forward

Aimed to provide financial relief to California Small Businesses.

California Small Business COVID-19 Relief Grant Program

The amount of grant funding ranges from $5,000 to $25,000. Businesses are eligible based on their annual revenue as documented in their most recent tax return. Visit Careliefgrant.com for more information

Visit Careliefgrant.com for more information

Visit Careliefgrant.com to learn how to file for relief.

One of the most prevalent contractual clauses that may influence rights, remedies, and obligations of businesses

A force majeure event refers to the occurrence of an event which is outside the reasonable control of a party and which prevents that party from performing its obligations under a contract

A force majeure clause is a contract provision that relieves the parties from performing their contractual obligations when certain circumstances beyond their control arise

Please visit econdev.laquintaca.gov

Please review your contract to determine if there is a force majeure provision

If your small business is in need of training, counseling, and microloans

A collection of microlenders who can provide loans of up to $75,000 to small businesses

Small business loans and a diverse coalition of community leaders dedicated to improving small business development

Please visit microbizinsocial.org

Please visit microbizinsocial.org

If your small business is in need of critical and necessary business financing

To provide "appropriate" assistance to businesses, which in turn will allow them to expand and diversify, create and/or retain jobs, and increase the commercial and industrial base of the community

Affordable rates and terms, maximum repayment term of 10 years

Please visit rivcoeda.org

Please visit rivcoeda.org

If your small business is in need of assistance for workforce costs, rent payments, operational costs, and marketing costs.

Facebook has created a small business grant that is set to give $100 million in cash grants and ad credits

Free grant money to businesses experiencing challenged from COVID-19

Please visit Facebook.com

To apply, please visit Facebook.com

If your small business is in need of a working capital loan

Opportunity Fund provides working capital loans from $2,600 to $250,000

The loan term is typically 12 to 60 months depending on the type of loan taken and the amount. There is no application fee or prepayment penalty. The repayment schedule is scheduled to match the business’s cash flow.

Please visit Opportunityfund.org

To apply, please visit Opportunityfund.org

If your small business is in need of a new loan

They provide up to $15,000 for 0% interest for U.S. entrepreneurs. Their loans are crowdfunded

No minimum credit score or collateral required

Please visit kiva.org

To apply, please visit kiva.org

If your business is unlikely to get a traditional loan

Micro-lender who could give loans from $300 to $250,000

The loan requirements differ depending on the location of the business and the type of loan

Please visit us.accion.org

To apply, please visit us.accion.org

If your small business is in need of a new loan

Lendistry offers different types of loans including term loans, express business line of credit loans, and revolving line of credit loans

Their APR is typically between 6.75% and 16%. The repayment schedule is fixed monthly payments

Please visit lendistry.com

To apply, please visit lendistry.com

If your small business is in need of access to capital

Loans provided are between $10,000 and $200,000, with terms around 1-5 years and 7-13% fixed interest rate depending on circumstances

There is no minimum credit score requirement, but Pacific Community Ventures prefers for the businesses to have proof they are profitable

Please visit pacificcommunityventures.org

To apply, please visit pacificcommunityventures.org

If your small business is in need of a new loan

The maximum size of a loan made in connection with the MSELF cannot exceed (i) 35% of the Eligible Borrower’s existing outstanding and undrawn available debt that is pari passu in priority with the Eligible Loan and equivalent in secured status

This loan is for 4 years with the 1st year deferred. It has a 5% risk retention and a LIBOR rate of +3%. The loan is nonforgivable and must be repaid 15% in the 2nd year, 15% in the 3rd year, and 70% in the 4th year.

Please visit iscs.com

To apply, please visit iscs.com

If your small business is in need of a new loan

The maximum size of a loan made in the Eligible Borrower’s existing outstanding and undrawn available debt, exceed six times the Eligible Borrower’s adjusted 2019 EBITDA

This loan is for 4 years with the 1st year deferred. It has a 15% risk retention and a LIBOR rate of +3%. The loan is non-forgivable and must be repaid 15% in the 2nd year, 15% in the 3rd year, and 70% in the 4th year

Please visit icsc.com

To apply, please visit icsc.com

If your small business is in need of a new loan

The maximum size of a loan made in the Eligible Borrower’s existing outstanding and undrawn available debt, exceed four times the Eligible Borrower’s adjusted 2019 EBITDA

The loans are for 4 years with the 1st year deferred. In the last 3 years, 33.33% of the loan amount must be repaid annually. This loan is not forgivable and has risk retention of 5%. It has a LIBOR rate of +3%

Please visit icsc.com

To apply, please visit icsc.com

If you are currently enrolled in school and were receiving work-study grants and actively working in a work-study job prior to COVID-19

Relief provided through the CARES Act that offers funding for students in work-study programs that were impacted by COVID-19. 

The federal work-study program provides part-time jobs to students with financial needs allowing them to earn money to help pay education expenses. The program is offered through the Department of Education and administered directly by the financial aid office at participating schools. 

Students in the program may be eligible for payment for lost wages due to COVID-19. Eligible students may be paid all or part of the wages they would have made had they continued working. 

Students who believe they are eligible should contact their school’s financial aid office. Additional information about this program can be found online at studentaid.gov

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

Please visit SBA.gov

SBA Disaster Loan Application

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 Coronavirus

Loans up to $10,000 can be turned around in a matter of days. No fees. No interest

Please visit JFLA.org

JFLA Pre-Loan Application

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 iBank.ca.gov

Please visit pcrcorp.org/california-small-business-loan

If you are a low-to-moderate income (LMI) business owner or operate a business in a LMI community

Provides microloans, technical assistance and financial literacy training

Loan amounts range from $500 to $10,000. Term up to 5 years, fully amortized

Please visit iBank.ca.gov

Please visit iBank.ca.gov to apply

If your small business is in need of financial assistance to cover shortfalls

Provides a microloan to assist with rent, payroll, utilities, and insurance payments due to COVID-19

Loans up to  $50,000,  and can be received in  5-7  days.  The interest rate is 3.25%. for small businesses

Please visit C-19 Microplan

Please visit CDCloans.com to apply

If your small business is in need of financial assistance to cover shortfalls

Provides a microloan to assist with rent, payroll, utilities, and insurance payments due to COVID-19

Loans up to $150,000. The interest rate for small businesses depends on personal credit history.  It  will be between Prime + 2.75-6.0%

Please visit C-19 Microplan

Please visit CDCloans.com to apply

If you are in need of financial support to cover general business needs

Provides a general microloan to assist with small business needs such as inventory and working capital

Loans up to $50,000. The interest rate is generally around 8%. Funds can be received in 2-4 weeks

Please visit CDCloans.com

Please visit CDCloans.com to apply

If your small business is in need of general financial assistance

Provides a general microloan to assist with small business needs such as inventory and working capital

Loans up to $250,000. The interest rate is prime + 2.75-6.0%. Funds can be received in 4-8 weeks

Please visit CDCloans.com

Please visit CDCloans.com to apply

To protect employees by requiring that employers give a 60-day notice to the affected employees

An employer that fails to provide notice as required to a unit of local government is subject to a civil penalty not to exceed $500 for each day of violation

Rapid Response Teams to assist employers and workers during a mass layoff or plant closing

Please visit EDD.ca.gov

Email eddwarnnotice@edd.ca.gov

If business interruption or slowdowns are causing you to consider layoffs

Business assistance to employees and employers

Full-time employees receive UI benefits, keep current job, and avoid financial hardships

Please visit EDD.ca.gov

Work Sharing Unemployment Insurance Plan Application

If your small business is in need of financial assistance to cover disaster-related purposes

Provides direct loan assistance to small businesses located in communities impacted by Presidentially-declared disasters and disasters declared by SBA under its own authority

Up to $25,000 in loans for disaster-related purposes. The interest rate throughout the  term of  the  loan cannot exceed  the maximum SBA Express interest rate  allowed of Prime + 6.5%

Please visit EBL Program Guide

Please visit EBL Program Guide to apply

If your small business is in need of financial assistance to cover payroll and a quicker snap-back after a crisis

If employers maintain their payroll, the loans would be forgiven, as well as helping businesses and the economy snap-back quicker after the crisis

Forgiveness of up to 8 weeks of payroll based on employee retention and salary levels, no SBA fees, and at least six months of deferral with maximum deferrals of up to a year

Please visit PPL Loan Guide

Please visit PPL Loan Guide to apply

If your small business is in need of financial assistance to cover substantial economic injury

These grants provide an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan

Forgiveness of up to 8 weeks of payroll based on employee retention and salary levels, no SBA fees, and at least six months of deferral with maximum deferrals of up to a year

Please visit EIDL Guide

Please visit EIDL Guide to apply

This program will provide immediate relief to small businesses with non-disaster SBA loans, in particular 7(a), 504, and microloans

SBA will cover all loan payments on these SBA loans, including principal, interest, and fees, for six months

This relief will also be available to new borrowers who take out loans within six months of the President signing the bill into law

Please visit Small Business Dept Relief Program Guide

Please visit Small Business Dept Relief Program Guide to apply

If your small business is in need a business counselor to help guide you through this uncertain time, you can turn to your local Small Business Development Center (SBDC), Women’s Business Center (WBC), or SCORE mentorship chapter

These resource partners, and the associations that represent them, will receive additional funds to expand their reach and better support small business owners with counseling and up-to-date information regarding COVID-19

Counseling is free and training is low-cost with these partners. The additional funds that Congress provided will help keep this possible. Mentor-ship through SCORE is always free

Please visit Counseling and Training program guide

To apply, Please visit Counseling and Training program guide

If your small business is in need of tax relief resources for business related taxes.

These tax resources help cover relief for business taxes, payroll taxes, sales taxes, property taxes, use taxes, and other special taxes

Each tax relief resource has various benefits  including waived penalties and tax extensions

Please visit the tax relief guide

To apply, please visit the tax relief guide

If your small business is in need of resources to understand what your employees are entitled to

The Labor & Workforce Development Agency (LWDA) wants to keep workers, employers, co-workers, and families safe by assisting with their informational guide

They are trying to make it easier and spread awareness through this centralized source of info to help businesses understand what employees are entitled to

Please visit the Labor and Workforce Development guide

To learn more, please visit the Labor and Workforce Development guide