City of Long Beach Business Brief - Business Resources and Updates

City of Long Beach Business Brief 2.12.21

Welcome to the Economic Development Department's Business Brief! We are continuing to ensure you are updated on the latest business resources and news.

Black History Month

In support of Black entrepreneurs, the Institute for Innovation & Entrepreneurship at CSULB will be hosting a panel for this month’s Innovation Hour. Panelist will discuss entrepreneurship choices and consider how and why black entrepreneurship can be impactful for black entrepreneurs. For more information, click here .

FOUND/LA Grant Opportunity

Round 3 of the FOUND/LA Small Business Recovery Fund (for brick-and-mortar businesses) opens Monday, February 15, 2020. The size of the grant will be between $5,000 and $25,000, depending on the size of the business.

Applicants who have previously applied for Rounds 1 or 2, will automatically roll over to Round 3.

For more information about how to apply, click here.

CSULB Workshop

The Entrepreneurship Workshop program will offer workshops once a month beginning February 5th and meet every other Friday through April 16th. Between the workshops there will be one-on-one mentoring sessions to help reinforce the concepts presented to help support implementation of the topics.

This program is being subsidized by the City of Long Beach and available to participants at no cost!

Business Program Opportunities

Edison's Rebate and Incentive Programs for Businesses offer a range of efficiency options, to help businesses maximize savings over the long term through the permanent reduction of electricity usage. Additionally they assist through assessment and tracking tools, financial incentives, assistance for qualifying equipment replacement (new equipment installation), upgrades, specialized consulting and technical services cutting costs at the same time with these new solutions.

Deadline to apply for the Ultra-Low Temperature Freezer and Express and Food Service rebates is March 8, 2021. For more information regarding these solutions and other SCE energy management solutions, contact your SCE account representative, visit SCE.com/solutions, or call 1-800-736-4777 for assistance.

The Paycheck Protection Program (PPP) continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan.

Loan Details

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.

PPP loans have an interest rate of 1%.
Loans issued prior to June 5 have a maturity of 2 years. Loans issued after June 5 have a maturity of 5 years.
Loan payments will be deferred for borrowers who apply for loan forgiveness until SBA remits the borrower's loan forgiveness amount to the lender. If a borrower does not apply for loan forgiveness, payments are deferred 10 months after the end of the covered period for the borrower’s loan forgiveness (either 8 weeks or 24 weeks).
No collateral or personal guarantees are required.
Neither the government nor lenders will charge small businesses any fees.

How to Apply

You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, and federally insured credit union that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.

To access this information in a language other than English click here.

Free PPE for LA County Small Businesses

The PPE Unite™ program distributes valuable face masks, hand sanitizer, and face shields to eligible small businesses in the County of Los Angeles. Sign up is simple and it is easy to schedule a pickup. Certain rules and eligibility requirements apply. For more info, click here .

Program Details:

What You Get

One-time 30 day supply of PPE (may include face masks, hand sanitizer, face shields) at no cost (limited supplies while they last).
Safe contactless pickup with easy scheduling of your own confirmed appointment time slot.
PPE amount may vary depending on business profile.

Program Rules:

Who Is Eligible

You must operate a small business with less than 100 employees.
Your business must be located in Los Angeles County.
You must operate as a sole proprietor, partnership, LLC, C or S-Corp, micro-business or non-profit.
You have not received any PPE through this program in the past.

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.