City of Vallejo Provides Small Business Resources to Mitigate COVID-19 Impacts

March 18, 2020 / Comments (0)

CURRENT NEWS

VALLEJO, CA – To mitigate the economic impacts caused by the COVID-19 pandemic, the City of Vallejo wants to highlight a variety of programs and efforts to support small businesses and workers. The City’s Economic Development staff is actively working to gather information from local businesses to share with resource partners to support small businesses and workers during this crisis.
“It is important for our business community to know that our City Teams are continuing to provide services and support during this critical period. The City is coordinating closely with state and federal agencies, and resource partners to ensure that support is readily available for Vallejo businesses,” said City Manager Greg Nyhoff.
The City has launched a survey to collect data from business; to participate in the survey click here. The Economic Development team will direct affected parties to the appropriate resources. Some resources are listed below:

State and Federal Loan Programs to Help Small Businesses

The Federal Small Business Association (SBA) is working directly with the governors to provide targeted, low-interest loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19). The SBA’s Economic Injury Disaster Loans provide small businesses with working capital loans of up to $2 million that can provide vital economic support to help overcome the temporary loss of revenue they are experiencing. The SBA’s Disaster Assistance Loan provides small businesses with up to $2 million to help cover fixed debts, payroll, accounts payable and other bills that can’t be paid due to the disaster’s impact.  Additional information is also available here.
During the State of Emergency, California employers directly affected by the emergency or disaster may request an extension of up to 60 days to file their state payroll reports and to deposit state payroll taxes with the Employment Development Department (EDD), without incurring penalty or interest charges. State payroll taxes include Unemployment Insurance (UI), Employment Training Tax (ETT), State Disability Insurance* (SDI), and Personal Income Tax (PIT). Click here for more information.
Employers can apply for the Unemployment Insurance (UI) Work Sharing Program if reduced production, services, or other conditions cause them to seek an alternative to layoffs. The Work Sharing Program helps employees whose hours and wages have been reduced receive UI benefits, keep their current job and avoid financial hardships. The Work Sharing Program helps employers minimize or eliminate the need for layoffs, keep trained employees and quickly prepare when business conditions improve to avoid the cost of recruiting, hiring, and training new employees.
Small Business Finance Center (SBFC) helps businesses create and retain jobs, and encourages investment in low- to moderate-income communities. The SBFC has a Jump Start Loan Program, a Small Business Loan Guarantee Program, and a Farm Loan Program. The Small Business Finance Center (SBFC) partners with Financial Development Corporations to provide loan guarantees and direct loans for small businesses that experience capital access barriers.
Resources to Help Self-Employed and Employees
Governor Newsom’s Executive Order on March 12, 2020, waives the one-week waiting period for people who are unemployed and/or disabled as a result of COVID-19 to seek unemployment and disability benefits. Affected workers can visit the California Labor & Workforce Development Agency’s website to review what benefits are available to them including other benefits related to sick leave, paid family leave and workers’ compensation benefits as well. Additional information and resources can be found at Ca.Gov/Coronavirus2019.
Elective coverage for employers and self-employed individuals under the provisions of the California Unemployment Insurance Code (CUIC), employers may elect Unemployment Insurance (UI) and State Disability Insurance* (SDI) or only Disability Insurance (DI) coverage for themselves. Self-employed individuals, who are not employers, may only elect SDI coverage for themselves.
In this rapidly evolving situation, the City is committed to providing up-to-date information and online resources to support local businesses and workers as they become available.
For more information regarding these programs, or for additional business assistance and resources, please visit cityofvallejo.net/ncov or contact:
Open for Business in Vallejo?
The City is compiling a list of businesses open during the COVID-19 pandemic. Submissions will be live in real time, shared out through City communication channels. If you would like to participate, submit your responses here: https://cityofvallejo.formstack.com/forms/vallejobusinesses.

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