City of Long Beach Business Brief
May 13, 2021
Welcome to the Economic Development Department's Business Brief! We are continuing to ensure you are updated on the latest business resources and news.
Today, Governor Gavin Newsom unveiled another component of his $100 billion California Comeback Plan: making historic investments in small business relief. Governor Newsom’s Plan expands the state’s COVID-19 Small Business Relief Grant program to a total of $4 billion, representing the largest such program in the entire country. That’s in addition to Governor Newsom’s $6.2 billion tax cut for those businesses hit hardest by the pandemic, the largest state tax cut of its kind in history.

These grants are already supporting diverse small businesses throughout California, with 88.3 percent of grants in rounds one and two going to minority/people of color-owned businesses, women-owned businesses, veteran-owned businesses and businesses located in low to moderate income communities. To date, approximately 198,000 small businesses and nonprofits either have been or will be awarded grants, which includes finalized awards for 43,874 small businesses and nonprofits representing all 58 California counties for a total of $475,001,244. 
 
The California Comeback Plan will allow California’s businesses to come roaring back from the pandemic.

Key actions for supporting small businesses include:

  • Largest small business grant program in the country: An additional $1.5 billion for the California Small Business COVID-19 Relief Grant Program, bringing the total investment to $4 billion.
  • Largest state small business tax cut in the nation: Governor Newsom signed a $6.2 billion tax cut for those that received Paycheck Protection Program (PPP) loans, allowing them to keep more money in their pockets.
  • Unprecedented support for small business financing: Estimated $895 million from the State Small Business Credit Initiative, which works to strengthen state programs that support financing of small businesses.
  • Massive expansion of California Competes Tax Credit: Increasing the tax credit to $360 million, and establishing a $250 million CalCompetes grant program, to incentivize businesses to relocate to California.
  • Supporting California's Ports: $250 million to address revenue impacts on ports to drive economic activity, goods movement, and regional employment.
  • Promoting green small businesses: $200 million to expand sales tax exclusions through the California Alternative Energy and Advanced Transportation Financing Authority to promote, grow and incentivize green manufacturing in CA.
  • Tax Credits for hiring and retaining employees: $147 million for the Main Street Small Business Tax Credit to assist small businesses that have hired and retained workers since the second quarter of 2020.
Update on Personal Services and Resiliency Fund  
At its December 15, 2020 meeting, the City Council requested the City Manager to create a $5 million Personal Services and Fitness Resiliency Fund (Fund) from the next federal COVID-19 stimulus bill. To offset the financial impacts of the Stay at Home Order to business owners and workers in Personal Services and Fitness, the Fund is to be invested in strategies to assist personal care, barber shops, nail salons, independently owned gyms, fitness studios, and their employees who have all suffered tremendous economic setbacks in support of public health. City staff is working to incorporate input provided by City Council and businesses into the details of eligibility, uses, and application process for the $5 million in grant funding that will support the Fund.

For the full update,click here.
Restaurant Revitalization Fund
Applications are still open for the Restaurant Revitalization Fund. SBA is awarding funding through the Restaurant Revitalization Program to restaurants, bars, and other similar places of business that serve food or drink. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.

The Call Center is available in 10 languages for questions at 844-279-8898. 

If you would like to prepare your application view and complete the SBA Form 3172 sample application form.

For more information and to prepare your application please visit,  www.sba.gov/restaurants (en Español: www.sba.gov/restaurantes). 
United Cambodian Community Webinars
UCC provides culturally competent social services to the Cambodian community in Long Beach, home of Cambodia Town. UCC is a multi-service agency providing youth development, workforce development, gang prevention, and mental health services to address the changing needs of the growing Cambodian population. Currently, UCC’s mission is to elevate the Cambodian community through local engagement and leadership that embodies Cambodian cultural values.

Upcoming webinars topics include:
Centro CHA Small Business, Micro-Grant Program, General COVID-19 Updates, Paycheck Protection Program, Updates, Economic Injury Disaster Loans, & Targeted EIDL Advance Updates, City of Long Beach Small Business Loan Programs, Restaurant Revitalization Fund, Access to Technical Assistance Providers








Access to Capital: May 17, 2021 1:00PM-3:00PM













Government Contracting: May 24, 2021 2:00PM-3:00PM
City Small Business Loan Program
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.