Other Business Assistance Resources
Contra Costa County Small Business Assistance
While the Danville Business Assistance Program will provide support specially tailored to the needs of Danville businesses, the Contra Costa County Workforce Development Board has also provided a hotline for small businesses affected by COVID-19:
Contra Costa County Assistance for the Business Community is available at (833) 320-1919.
- Exclude PPP Loans from State Taxes: Governor Newsom signed AB 1577 (Burke), which conforms state law to federal law by excluding from gross income Paycheck Protection Program loans that were forgiven through the federal CARES Act and subsequent amendments in the Paycheck Protection Program and Health Care Enhancement Act of 2020.
- Main Street Hiring Tax Credit: Governor Newsom signed SB 1447 (Bradford, Caballero, and Cervantes), authorizing a $100 million hiring tax credit program for qualified small businesses. The credit will be equal to $1,000 per qualified employee, up to $100,000 for each small business employer.
- Tax Relief for Small Businesses: 90-day extension to small businesses in state and local taxes and an extension of all licensing deadlines and requirements for several industries.
- Waived Minimum Franchise Tax for New Businesses: Estimated $100 million allocated in the 2020-21 Budget to waive the $800 minimum franchise tax for the first year of business creation and remove a barrier to entrepreneurship and job creation.
RESOURCE LINKS FOR BUSINESSES
U.S. Small Business Administration (SBA)
U.S. Centers for Disease Control and Prevention (CDC) Guidance to Businesses and Employers
California Department of Tax and Fee Administration (CDTFA)
California Small Business Finance Center (SBFC)
Danville Chamber of Commerce
CURRENTLY ACTIVE ASSISTANCE PROGRAMS
SBA Paycheck Protection Program (PPP)
Fully forgivable loans allowing small businesses to keep their workers on payroll. Provides 2.5 months’ worth of average payroll in emergency funds for payroll, rent, utilities, and other costs to survive the pandemic shutdown. Allowed for “First-draw” borrowers as well as return “Second-draws” Current Deadline is March 31, 2021. Congress is debating an extension.
California Pandemic Unemployment Assistance (PUA)
Assists unemployed Californians who are not usually eligible for regular Unemployment Insurance (UI) benefits. This includes business owners, self-employed workers, independent contractors, and anyone who is out of business as a direct result of the pandemic. Unemployment claims can be retroactive to December 6, 2020
California Relief Grant
Competitive grant providing funds to underserved small businesses and non-profits impacted by the COVID-19 pandemic shutdown. Priority consideration is given to heavy hit industry types and businesses who suffered a large loss of revenue in 2020. Round 5 will close March 31, 2021. The Final Round 6 will open in early April.
California Rebuilding Fund
Working capital loans of up to $100,000 that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing due to the COVID-19 crisis.
SBA Economic Injury Disaster Loan Emergency (EIDL)
Working capital loans of up to $150,000 that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing due to the COVID-19 crisis.
SBA COVID-19 Express Bridge Loans
COVID-19 response-funded express loans for small businesses with existing SBA loan agreements. Up to $25,000 in additional loans added to existing SBA agreements.
Main Street Lending Program
The Federal Reserve established the Main Street Lending Program to support lending to small and medium-sized for-profit businesses and non-profit organizations that were in sound financial condition before the onset of the COVID-19 pandemic. Provides large scales loans ranging from $250,000 to $300 million.
IRS Employee Retention Credit
Refundable tax credit against certain employment taxes equal to 50% of the qualified wages an eligible employer pays to employees after March 12, 2020, and before January 1, 2021. New rules allow you to apply even if you receive the PPP.
ANTICIPATED FUTURE ASSISTANCE PROGRAMS
Shuttered Venue Operators Grant (SVOG)
Large-scale grant program providing 6 months’ worth of their 2019 Gross Revenue funds to eligible “venue-type” businesses (theatres, performing arts, concerts, festivals, etc) who have been devasted by the social distance requirements of COVID-19. Grant will launch April 8, 2021. Full application instructions are still forthcoming. New rules allow you to apply even if you receive the PPP.