NEW! Paycheck Protection Program (PPP) Resumes January 11, 2021
1.19.21 Paycheck Protection Program now open to ALL participating lenders.
The U.S. Small Business Administration in consultation with The U.S. Department of the Treasury, ill open the Paycheck Protection Program loan portal on Monday, January 11, 2021 at 9 am ET. The PPP loan portal system will initially accept First Draw PPP loan applications from participating CFIs, which include Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), and Microloan Intermediaries. Borrowers can apply for a First Draw PPP Loan until March 31, 2021.
First Draw PPP Loans can be used to help fund payroll costs, including benefits. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations. First Draw PP Loans Overview HERE
Second Draw of PPP Loans: At least $25 billion is being set aside for Second Draw PPP Loans to eligible borrowers with a maximum of 10 employees or for loans of $250,000 or less to eligible borrowers in low- or moderate-income neighborhoods. To promote access for smaller lenders and their customers, SBA will initially only accept Second Draw PPP Loan applications from community financial institutions starting on January 13, 2021. The PPP will open to all participating lenders for Second Draw PPP Loans shortly thereafter. Second Draw PP Loans Overview Here
First Draw PPP Loans can be used to help fund payroll costs, including benefits. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations. First Draw PP Loans Overview HERE
Second Draw of PPP Loans: At least $25 billion is being set aside for Second Draw PPP Loans to eligible borrowers with a maximum of 10 employees or for loans of $250,000 or less to eligible borrowers in low- or moderate-income neighborhoods. To promote access for smaller lenders and their customers, SBA will initially only accept Second Draw PPP Loan applications from community financial institutions starting on January 13, 2021. The PPP will open to all participating lenders for Second Draw PPP Loans shortly thereafter. Second Draw PP Loans Overview Here
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𝗞𝗲𝘆 𝗣𝗣𝗣 𝘂𝗽𝗱𝗮𝘁𝗲𝘀 𝗶𝗻𝗰𝗹𝘂𝗱𝗲:
• PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs; • PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures; • The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, direct marketing organizations, among other types of organizations; • The PPP provides greater flexibility for seasonal employees; • Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount; and • Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan. |
𝗔 𝗯𝗼𝗿𝗿𝗼𝘄𝗲𝗿 𝗶𝘀 𝗴𝗲𝗻𝗲𝗿𝗮𝗹𝗹𝘆 𝗲𝗹𝗶𝗴𝗶𝗯𝗹𝗲 𝗳𝗼𝗿 𝗮 𝗦𝗲𝗰𝗼𝗻𝗱 𝗗𝗿𝗮𝘄 𝗣𝗣𝗣 𝗟𝗼𝗮𝗻 𝗶𝗳 𝘁𝗵𝗲 𝗯𝗼𝗿𝗿𝗼𝘄𝗲𝗿:
• Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses; • Has no more than 300 employees; and • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020. |
California Small Business COVID-19 Relief Grant Program - Round 2 opens 2.2.2021
The amount of grant funding ranges from $5,000 to $25,000. Businesses are eligible based on their annual revenue as documented in their most recent tax return:
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California Rebuilding Fund
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Economic Injury Disaster Loan (EIDL)
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Economic Injury Disaster Loan (EIDL) Emergency Advance
No longer available
EIDL Advance was a grant program offered together with the economic injury loan program. The amount of the grant was determined by the number of employees indicated on the EIDL application: $1,000/employee, up to a maximum of $10,000.
Other Resources
Golden Valley Bank 2020 2nd Quarter Economic Snapshot - Chico
California Disaster Relief Loan Guarantee Program — COVID-19
The State of California is allocating $50 million to the Small Business Finance Center at California’s IBank to mitigate barriers to capital for those small businesses (1-750 employees) that may not qualify for federal funds (including businesses in low-wealth and immigrant communities). The $50 million allocation will be used to recapitalize the IBank Small Business Loan Guarantee Program.
Disaster Relief Loan Guarantee Program: This disaster program provides guarantees for loans of up to $50,000 for small business borrowers in declared disaster areas.
The State of California is allocating $50 million to the Small Business Finance Center at California’s IBank to mitigate barriers to capital for those small businesses (1-750 employees) that may not qualify for federal funds (including businesses in low-wealth and immigrant communities). The $50 million allocation will be used to recapitalize the IBank Small Business Loan Guarantee Program.
Disaster Relief Loan Guarantee Program: This disaster program provides guarantees for loans of up to $50,000 for small business borrowers in declared disaster areas.
California State Board of Equalization
Coronavirus (COVID-19) Impact to Property Taxes FREQUENTLY ASKED QUESTIONS (FAQS)
Coronavirus (COVID-19) Impact to Property Taxes FREQUENTLY ASKED QUESTIONS (FAQS)
3CORE: Small Business Interruption Loan Program
Business working capital loan in an amount between $10,000 and $100,000, depending on each business’s individual needs. Larger loan requests with alternate rates and terms may also be considered. For questions, please contact 3CORE at (530) 893-8732.
Business working capital loan in an amount between $10,000 and $100,000, depending on each business’s individual needs. Larger loan requests with alternate rates and terms may also be considered. For questions, please contact 3CORE at (530) 893-8732.
North Valley Community Foundation
Coronavirus Rapid Response Fund for Local Nonprofits and Agencies: To help local nonprofit organizations and government agencies on the front lines prepare, rapidly respond to and deploy resources for coronavirus response in Butte, Glenn, Tehama and Colusa counties.
Fund Page
Donate to Fund
Videos
Zoom Interview with Rick Smith, Tri Counties Bank
"PPP Update"
October 26, 2020
Full Interview HERE
Zoom Interview with Mark Francis, President & CEO, Golden Valley Bank
"The PPP Experience and the Status of our Local Economy"
May 19, 2020
Full Interview HERE
"The PPP Experience and the Status of our Local Economy"
May 19, 2020
Full Interview HERE
Zoom Interview with Toni Scott, Principal, Grants, Morrison
"I Received my PPP Money...Now What"
April 22, 2020
Full Interview HERE
Morrison Paycheck Protection Program Loan Tips HERE
"I Received my PPP Money...Now What"
April 22, 2020
Full Interview HERE
Morrison Paycheck Protection Program Loan Tips HERE
Zoom Interview with Rick Smith, President & CEO, Tri Counties Bank
April 20, 2020
Full Interview HERE
Webinar Links
ASK AN ECONOMIST (COVID-19) - PART 1
Dr. Robert Eyler, PhD
April 3, 2020
Learn about the Good, Tricky, and Ugly scenarios and hear what he has to say about the effects on different industries.
Full Webinar CLICK HERE
Dr. Robert Eyler, PhD
April 3, 2020
Learn about the Good, Tricky, and Ugly scenarios and hear what he has to say about the effects on different industries.
Full Webinar CLICK HERE
ASK AN ECONOMIST (COVID-19) – PART 2
Dr. Robert Eyler, PhD
April 10, 2020
Economic update (webinar) presented by Rob Eyler, PhD. He explains the immediate and near-term economics of the crisis, factors municipalities and businesses should keep their eyes on, and strategies for the TOURISM industry.
Full Webinar CLICK HERE
Dr. Robert Eyler, PhD
April 10, 2020
Economic update (webinar) presented by Rob Eyler, PhD. He explains the immediate and near-term economics of the crisis, factors municipalities and businesses should keep their eyes on, and strategies for the TOURISM industry.
Full Webinar CLICK HERE
ASK AN ECONOMIST (COVID-19) – PART 3
Dr. Robert Eyler, PhD
April 23, 2020
Economic update including "tricky" and "ugly" scenarios and the costs/benefits of reopening. Industry focus this week: MANUFACTURING
Full Webinar CLICK HERE
Dr. Robert Eyler, PhD
April 23, 2020
Economic update including "tricky" and "ugly" scenarios and the costs/benefits of reopening. Industry focus this week: MANUFACTURING
Full Webinar CLICK HERE
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