Golden Valley Bank 2020 2nd Quarter Economic Snapshot - Chico
Butte Stabilization Program
The application is now closed.
The Butte Non-Profit Stabilization Program will provide a maximum of $99,999 one-time grant awards to non-profits located within Butte County and who serve Butte County residents. These grant funds will assist Butte County non-profit organizations with costs associated with the impacts of business closures, the costs associated with adherence to local requirements for safe business re-openings, and the financial impacts because of COVID-19. The total amount proposed for the grant program is $1,100,000. This amount will support approximately 11-20 local non-profit organizations (depending on application request). The department will choose grantees via lottery from a pool of applicants determined to be eligible local non-profit organizations after a three-week open application window. For more information, click here.
Notice: Paycheck Protection Program CLOSED August 8,2020
Current law dictates that the Paycheck Protection Program (PPP) close at the end of August 8, 2020. As such, SBA is no longer accepting PPP applications from participating lenders. For more information about the program and loan forgiveness CLICK HERE.
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 employee retention criteria are met, and the funds are used for eligible expenses. Click here to read more about PPP loan forgiveness.
Who Can Apply
The following entities affected by Coronavirus (COVID-19) may be eligible:
If you wish to begin preparing your application, you can download a copy of the PPP borrower application form (revised June 24, 2020) to see the information that will be requested from you when you apply with a lender.
View a list of lenders participating in the Paycheck Protection Program by state.
The following entities affected by Coronavirus (COVID-19) may be eligible:
- Any small business concern that meets SBA’s size standards (either the industry based sized standard or the alternative size standard)
- Sole proprietors, independent contractors, and self-employed persons
- Any business with a NAICS Code that begins with 72 (Accommodations and Food Services) that has more than one physical location and employs less than 500 per location
- Any business, 501(c)(3) non-profit organization, 501(c)(19) veterans organization, or Tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of:
- 500 employees, or
- That meets the SBA industry size standard if more than 500
If you wish to begin preparing your application, you can download a copy of the PPP borrower application form (revised June 24, 2020) to see the information that will be requested from you when you apply with a lender.
View a list of lenders participating in the Paycheck Protection Program by state.
Local SBA approved lenders (list may be incomplete and subject to change)
Most Recent PPP Updates!
New as of July 6, 2020: The Paycheck Protection Program resumed accepting applications July 6, 2020, at 9:00 AM EDT in response to the Paycheck Protection Program Extension Act. The new deadline to apply for a Paycheck Protection Program loan is August 8, 2020. Click Here for details
Loan Details & Forgiveness Application Revised June 16th: The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 60% of the forgiven amount must have been used for payroll).
- Click here to download the Paycheck Protection Program Loan Forgiveness Application (06-16-2020) (Spanish version)
- Click here to download the Paycheck Protection Program EZ Loan Forgiveness Application (06-16-2020)
New June 12, 2020: SBA and Treasury Announce New and Revised Guidance Regarding the Paycheck Protection Program
The U.S. Small Business Administration, in consultation with the U.S. Department of the Treasury, issued new and revised guidance for the Paycheck Protection Program (PPP). This guidance implements the Paycheck Protection Program Flexibility Act (PPPFA), signed into law by President Trump on June 5, 2020, and expands eligibility for businesses with owners who have past felony convictions. Click Here for more information
The U.S. Small Business Administration, in consultation with the U.S. Department of the Treasury, issued new and revised guidance for the Paycheck Protection Program (PPP). This guidance implements the Paycheck Protection Program Flexibility Act (PPPFA), signed into law by President Trump on June 5, 2020, and expands eligibility for businesses with owners who have past felony convictions. Click Here for more information
New June 4, 2020 - New PPP Legislation to Make Loan Forgiveness Easier
This week, the Senate and House approved a bill that will make it easier for borrowers to have Paycheck Protection Program(PPP) loans forgiven. The bill is pending executive approval; The Journal of Accountancy reports that the President is expected to sign it. CLICK HERE for full blog.
Information courtesy of Allevity Employer Solutions
This week, the Senate and House approved a bill that will make it easier for borrowers to have Paycheck Protection Program(PPP) loans forgiven. The bill is pending executive approval; The Journal of Accountancy reports that the President is expected to sign it. CLICK HERE for full blog.
Information courtesy of Allevity Employer Solutions
Economic Injury Disaster Loan (EIDL)
SBA is currently accepting new Economic Injury Disaster Loan (EIDL) applications from all qualified small businesses, including agricultural businesses, and private nonprofit organizations.
If you have already applied via the streamlined application portal, please do not resubmit your application.
For more information CLICK HERE
If you have already applied via the streamlined application portal, please do not resubmit your application.
For more information CLICK HERE
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
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 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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