City of Long Beach Business Brief
March 25, 2022
Welcome to the Economic Development Department's Business Brief! We are continuing to ensure you are updated on the latest business resources and news.
BizCare Program
The Long Beach Economic Development BizCare team continues to offer a helping hand and a lifeline to businesses as they navigate the effects of COVID-19. In 2021, the BizCare team connected with over 1,000 businesses and directly assisted them with applying for more than $100,000 in grants.
 
Learn more about the team and the businesses they supported in the latest InsideLB story below.
City of Long Beach Grants Now Open
The City of Long Beach is now accepting applications for the recently
announced Long Beach Recovery Act Small Business and Non-Profit Relief grants, a new recovery program to help small businesses and nonprofits that have experienced financial hardship due to the COVID-19 pandemic. Now until 8 p.m. on May 15, 2022, eligible small businesses and nonprofits can apply to receive working capital to help pay for a variety of business expenses. 

Applications can be submitted through LiveStories, the City’s vendor application portal. The City will begin to review and award grant applications as early as April 15, so businesses and nonprofits are encouraged to apply as early as possible. Additional information, including eligibility requirements, required documentation, application questions and the application process, is available at longbeach.gov/smallbizgrants. 

Currently available grant opportunities include: 
  • Restaurant, Brewery and Bar Relief Grant will provide direct financial relief to small Long Beach food and beverage businesses. Eligible small businesses can receive between $5,000 and $25,000 to support their business. 
  • Personal Services and Fitness Relief Grant will provide direct financial relief to small Long Beach personal services and fitness businesses. Eligible small businesses can receive between $5,000 and $25,000 to support their business. 
  • Small Business Relief Grant will provide direct financial relief to small Long Beach businesses that do not qualify for the Restaurant, Brewery and Bar Grant nor the Personal Services and Fitness Relief Grant. Eligible small businesses can receive between $2,500 and $10,000 to support their business. 
  • Non-Profit Relief Grant will provide direct financial relief to 501c3, 501c19, and fiscally sponsored nonprofits. Eligible nonprofits can receive between $5,000 and $25,000 to support their nonprofit. 

The City is partnering with community-based organizations to serve as Business Navigators and offer free assistance for small businesses and nonprofits applying for grant programs and has contracted with LiveStories to provide comprehensive grants administration support services.
Businesses and nonprofits can access free application assistance by calling the City’s BizCare Hotline at 562.570.4249, emailing [email protected],
or visiting longbeach.gov/bizcare.

Technical support for the LiveStories online portal is available weekdays from
8 a.m. to 6 p.m. by calling 855.582.3973 or emailing [email protected]. 

This opportunity is made possible by Long Beach Recovery Act, a plan to fund economic and public health initiatives for Long Beach residents, workers and businesses critically impacted
by the COVID-19 pandemic. A total of $20 million has been allocated for business support under the Recovery Act. Additional information about the Long Beach Recovery Act is available at longbeach.gov/recovery.  
The California Competes Tax Credit (CCTC) is an income tax credit available to businesses that want to locate in California or stay and grow in California. Businesses of any industry, size, or location compete for over $180 million available in tax credits by applying in one of the three application periods each year. Applicants will be analyzed based on twelve different factors of evaluation, including number of full-time jobs being created, amount of investment, and strategic importance to the state or region.

Applications are not yet available, subscribe below to be notified when applications open.
The California Dream Fund is a one-time $35 million grant program to seed entrepreneurship and small business creation in the State of California. New entrepreneurs and small business owners will complete an intensive training program through select participating centers of the Technical Assistance Expansion Program (TAEP). Following successful completion of the training and consulting program, new businesses will be eligible to apply for a microgrant of up to $10,000. 

To find your nearest Dream Fund participating center, click here.
New Deferment Period for EIDL COVID-19 Loans
The U.S. Small Business Administration (SBA) recently announced an additional deferment period of principal and interest payments for existing COVID-19 Economic Injury Disaster Loans (EIDL). Borrowers have a total of 30 months of deferment period from loan origination on all COVID EIDL loans. This is a change from the previous deferral period of 24 months.
Below you will find some additional information about the new deferment period on EIDL loans:
  • This deferment period is effective for all COVID EIDL loans originated in 2020, 2021 and 2022. 
  • Please note that interest will continue to accrue during the deferment period. 
  • Borrowers can continue to make partial or full payments during the 30 month deferment period, but are not required to do so. 
  • The SBA is now recommending that borrowers use www.pay.gov to make their payments.
  • The SBA is not sending monthly SBA Form 1201 payment notices. However, the SBA will send regular payment reminders via email.
DLBA Entrepreneur & Small Business Education Series
The Entrepreneur and Small Business Education Series is a partnership between the Downtown Long Beach Alliance and Long Beach State University’s Institute of Innovation & Entrepreneurship. The education series is focused on providing the tools and skills needed to start and run a successful business. The Entrepreneur and Small Business Education Series is a six-week program. Long Beach State University will provide a certificate of accomplishment to those who complete the entire program.

Register for the Education Series
Date: April 2 – May 14
Time: 8 am-Noon each consecutive Saturday, except for Saturday, April 16
Location: Studio One Eleven (245 E. 3rd Street, Long Beach CA 90802) 
Cost to Attend: FREE to attend for Existing and Potential Downtown Business Owners and CSULB Students (Value of $1,350)
Contact the City of Long Beach BizCare Hotline for Immediate Assistance:

Phone number: 562-570-4BIZ (4249)
Days: Monday - Friday
Hours: 8:00 a.m. to 5 p.m.

City staff will respond to voicemails made after business hours within 24 hours.