Member of the Month Archive

Irvine Launches Third District Small Business Support Program

Tuesday, January 19, 2021

The City of Irvine received $722,000 from the County of Orange to assist small businesses affected by COVID-19 within the Irvine portion of Orange County’s Third Supervisorial District. One-time grants up to $5,000 are available to eligible small businesses to help cover the costs of business interruption caused by the COVID-19 pandemic and related stay-at-home orders. To qualify, the business must be in the 3rd District of Irvine and employ 10 or fewer full-time-equivalent employees. Additionally, businesses must not have received grant funding through the City of Irvine Small Business Support Program from June 2020, and must have an active City of Irvine Business License tha...

Newsom’s Budget Offers Tax Breaks to Businesses, Job Training to Spur California Economy

Monday, January 11, 2021

(The Sacramento Bee) Californians struggling to get back to work during the coronavirus pandemic could get help from more than a billion dollars earmarked for job creation and workforce training in Gov. Gavin Newsom’s new budget proposal. If approved, more than $750 million would go toward a so-called California Jobs Initiative that would provide a combination of tax credits, micro-grants, and loans aimed at boosting job creation. Newsom is also proposing $353 million for job training and apprenticeship programs, in sectors ranging from construction to cybersecurity. The money would come on top of $575 million in grants Newsom is asking the Legislature to be distribute...

SBA and Treasury Re-Open PPP with New Guidance

Monday, January 11, 2021

The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, reopens the Paycheck Protection Program (PPP) for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, Jan. 11, and Second Draw PPP Loans on Wednesday, Jan. 13. The PPP will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released on Jan. 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act. This round of the PPP continue...

Governor Newsom Plans $4 Billion for Economic Recovery

Wednesday, January 06, 2021

(NBCLA) California Gov. Gavin Newsom on Jan. 5 proposed a $4 billion spending plan he says will create jobs and help small businesses recover from the economic downturn brought on by the coronavirus pandemic. Close to half of that money — $1.5 billion — would help people purchase electric cars and build the charging stations necessary for drivers to use them. That proposal is part of Newsom's goal to ban the sale of new gas-powered cars in California by 2035. Small businesses would get $575 million. The money would pay for grants of up to $25,000 each to small business owners, with priorit...

Legislative Lifeline for Small Business Deemed Urgent

Wednesday, January 06, 2021

Assemblywoman Cottie Petrie-Norris (D-Laguna Beach), Senator Andreas Borgeas (R-Fresno), and Senator Anna Caballero (D-Salinas) unveiled new coalition support and legislative details of the Keep California Working Act during a Jan. 6 virtual press conference. The Keep California Working Act, otherwise known as Senate Bill 74, is a bipartisan small business relief package spearheaded by Senators Andreas Borgeas and Anna Caballero, and Assembly Member Cottie Petrie-Norris. The bill invests $2.6 billion (or 10% of California's projected windfall) in grants for small businesses and nonprofits impacted by COVID-19. "SB 74 may be an essential lifeline for California businesses that are struggling to maintain jobs an...

Economic Recovery Assistance: OC Allocates $10 Million for Small Businesses

Friday, December 18, 2020

Small businesses in Orange County will soon be able to tap into a $10 million economic recovery program. During its Dec. 15 Board meeting, the Orange County Board of Supervisors unanimously supported Vice Chairman Andrew Do’s $10 million small business economic support program to provide immediate relief to local businesses who have been adversely affected by the pandemic. “We are nine months into the pandemic and small business owners don’t know how much longer they can remain open,” said Vice Chairman Do. Vice Chairman Do’s directive calls for the allocation of $10 million from County reserves for economic support initiatives for small businesses, spli...

Member of the Month Archive

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