Sacramento COVID 19 Resources
Small Business Support
- Small businesses can apply for two types of loans: a revenue replacement loan for up to $25,000 or a payroll loan. The payroll loans are key for small businesses, because they can be fully forgivable if at least 75% of the loan is used for payroll.
- These loans can also be used for paying other expenses such as a mortgage or overhead costs.
- More information such as eligibility requirements and an application can be found in the links to the right.
- The United States Senate has recently passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The largest portion of this act includes a 2 trillion dollar emergency relief package for individuals, big businesses, and small businesses.
- The monetary breakdown is as follows: $877 billion for businesses, $560 billion for direct payments to individuals, $153.5 billion for public health, $339.8 billion for state and local governments, $43.7 billion for education, and a $26 billion safety net.
Individual Stimulus Checks
- A part of the CARES Act is dedicated towards sending Americans direct payments to compensate for loss of hours or work altogether.
- The payments will be calculated based on people’s 2019 tax returns. It is okay if you haven’t filed, because the deadline has been extended to July 15.
- Individuals making under $99,000 and couples making under $198,000 will qualify for a check up to $1,200 and $2,400 respectively.
- An eviction moratorium was also included in the CARES Act, which prohibits landlord of affordable housing units or properties with federally backed loans to evict tenants due to nonpayment of rent.
- This is in place for 120 days, and after this period ends, a landlord must provide a tenant with 30 days notice before they proceed with the eviction process.
- Coronavirus Aid, Relief, and Economic Security Act: What Small Businesses Need to Know
- Disaster Loan Assistance – SBA
- USA Chamber of Commerce Resources to Help Your Small Business Survive the Coronavirus
- California launching $50 million microlending program to help small businesses
- Avoid Scams and Schemes Tied to Coronavirus Relief Checks