COVID-19 Economic Support

**City Announces COVID Loans for Small Businesses and Residents dealing with COVID Impacts

Businesses Road to Recovery

The County of Monterey Health Department is working closely with the State of California to monitor Monterey County’s Road to Recovery.  As the County moves through the stages of reopening, new information will be kept up to date on its website.  Marina business owners are encouraged to check the County Health Department’s web page often for more information on the status of the County’s Stage of Recovery, which businesses are able to operate and what the requirements are to operate.  The County has published a Sector-Specific Reopening Guidance Document  that provides the baseline requirements for businesses allowed to operate.  Business owners of establishments that are not yet able to open are also encouraged to plan for their reopening by reviewing State guidance materials for their specific business type on the States web page at https://covid19.ca.gov/roadmap/.

Support your Local Businesses

The community can continue to support our local businesses while complying with the Stay at Home order by purchasing goods online or by phone for delivery, attending virtual classes and services provided online, purchasing gift cards for future use by phone or online, ordering take out or delivery food service, and participating in social media to continue to promote and support our local business community.  Please visit the Marina Chamber of Commerce for more information on how you can support local businesses.

Financial Help

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law on March 27, 2020. providing $2 trillion in emergency relieve and economic stimulus intended to combat the effects of the Coronavirus pandemic. The bill’s provisions include cash payments to individuals, expanded unemployment benefits, assistance and relieve to business.

Help for Business

Upcoming Grant Opportunities -  Act Now!

• Hello Alice is offering grants of $10,000 to impacted small businesses. Learn more here.

• Salesforce will soon be offering Salesforce Care Small Business Grants of $10,000 to impacted small businesses. The application process begins in mid-April 2020. To get notified when the application process opens, sign up here.

• Eater.com: “A List of Relief Funds for Restaurants, Bars, and Food Service Workers”

• Coming Soon: Facebook Small Business Grants (sign up here to receive more information when it is available)

Download the COVID Relief for Small Businesses Informational Packet

Small Business Administration Immediate funding resources

• Paycheck Projection Program  The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.The Paycheck Protection Program will be available through June 30, 2020.
  
  You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating.
  
  
  • Frequently Asked Questions
  • PPP Borrower Application Form
• Economic Injury Disaster Loan Emergency Advance  Economic Injury Disaster Loan advances  up to $10,000. This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available following a successful application. This loan advance will not have to be repaid. 

Cal Coastal Small Business Development Center (SBDC)

• Monterey County Revolving Loan Fund  Small Business Revolving Loan Fund for  businesses located only in Monterey County. Funding can be used for the inventory, furniture and fixtures, leasehold improvements, equipment, working capital or business acquisition. 
• Disaster Relief Loan Guarantee Program (DRLGP)  Disaster Relief and is currently available to small businesses needing assistance to overcome economic injury caused by COVID-19.  This program is administered by several Financial Development Corporations (FDCs) throughout the state, which provide Lenders (e.g. a bank or credit union) with a loan guarantee of up to 95 percent of the loan. Businesses can apply directly through California Coastal Rural Development Corporation (Cal Coastal), but we can assist you in locating a participating Lender.  Our loan application can be accessed on our company website at: www.calcoastal.org.

State of California 

• Governor’s Office on Business & Economic Development  The Governor’s Office of Business and Economic Development (GO-Biz) has compiled helpful information for employers, employees, and all Californians as it relates to the Coronavirus (COVID-19) pandemic. For a complete list of resources, please visit the California Coronavirus (COVID-19) Response website. 
• California Employee Development Department (EDD)  EDD has prepared a Coronavirus 2019 FAQs page to help answer questions about the benefits available.
• California State Treasure’s Office   CalCAP is a loan loss reserve program which may provide up to 100% coverage on losses as a result of certain loan defaults. Individual borrowers are limited to a maximum of $2.5 million enrolled over a 3-year period. Contact a Participating Lender to enroll 

Technical Advisement & Assistance for Business

• Cal Coastal Small Business Development Center (SBDC): Available to provide free, individualized and confidential one-on-one advising for financing assistance and building a strategy to plan or recover from impacts to your business.
• SCORE  Mentors offer free, personalized assistance to address the current crisis to help you adapt your business. Remote mentoring services are available via phone, email, video and chat. Find a mentor today. 
• There are a variety of free webinars available to businesses through the Small Business Majority to learn about financial resources to help cope with COVID-19.
• Marina Chamber of Commerce   Your Marina Chamber of Commerce Board of Directors and Volunteers are working hard to help our local economy and business community during these uncertain times. 

Help for Individuals

• CARES Act provides immediate help to struggling families. 
  • Direct Non-taxable Payments
    • $1200 per adult with a social security number; and,
    • $500 per child age 17 and younger.

  • The payments phase out based upon Adjusted Gross Income. These payments are aimed to be sent within 3 weeks via the direct deposit information supplied on a taxpayer’s tax form. For those who have not filed because they did not need to, the IRS will be putting up on their website some type of filing system soon.  

  • Enhanced Unemployment Benefits
    Act offers an extra $600 a week beyond the normal unemployment benefits.  In California, the maximum benefit is $1300 a week.  This will add another $600 a week for up to 4 months.

• Families First Coronavirus Response Act  Administered by the US Department of Labor: provided two key elements which applies to employers 500 or less and all governments:
  • 10 days of additional paid sick leave for individuals meeting certain criteria called out in the act; and,
  • An additional 12 weeks of Extended Family Medical Leave Act after taking the first 2 weeks unpaid.  Individuals may use the additional 10 days of paid sick leave to pay for the first two weeks of Extended Family Medical Leave.
    Click here for FAQs on this program.
    
• California Coronavirus Response: Questions and Answers for workers
• California Department of Labor and Workforce Development: Coronavirus Resources website includes guidance on benefits for workers including: paid family leave, disability insurance, unemployment insurance, paid sick leave, worker’s compensation.