Dear Business Representatives,
Thank you for your continued resilience as we work through the various challenges of this dynamic and changing situation together. We want to ensure that you are fully aware of the most recent announcements related to COVID-19 resources.
US Senate Passes $484 Billion Interim Economic Stimulus Package
On April 21, 2020, the United States Senate passed $484 billion in new pandemic relief funds.
The bill goes to the House, which is expected to vote on the package Thursday. According to
the proposed bill includes the following provisions:
An additional $310 billion for the Paycheck Protection Program, with $60 billion of that money reserved for smaller businesses without existing banking relationships.
Another $60 billion ($50 billion in loans and $10 billion in grants) is also set aside for the Economic Injury Disaster Loan fund, which is administered directly by the Small Business Administration rather than banks. Farms and other agricultural programs are now eligible for those funds.
And another $75 billion for specific hospitals and healthcare providers to help them cover the massive costs associated with responding to the virus.
Allocates $25 billion for coronavirus testing. $11 billion of that money is earmarked for states and local governments to expand their testing capacity.
Facebook Now Accepting Small Business Grant Applications
Facebook is planning to provide $15 million in cash grants and ad credits to Bay Area small businesses struggling due to COVID-19 with a specific focus on grants for businesses owned by minorities, women and veterans. The application process officially commenced in the Bay Area as of April 20
. The application deadline is at 11:59 p.m. U.S. Eastern Standard Time on May 6, 2020. Facebook will then need approximately four weeks to review your application, ask follow up questions, and select finalists before announcing grant recipients. Click
to begin an application.
California Governor’s Office of Business and Economic Development (Go-Biz)
On April 15, 2020, Governor Newsom announced new initiatives to support California workers impacted by COVID-19. The Governor also announced $75 million in statewide Disaster Relief Assistance funding to provide financial support for immigrant workers affected by COVID-19.
Read more here
On April 16, 2020, Governor Newsom announced paid sick leave benefits for food sector workers impacted by COVID-19 and additional protections for consumers.
Read more here
On April 17, 2020, Governor Newsom announced a new task force to help California recover from the COVID-19 induced recession.
This Task Force brings together Californians from across a diverse range of the state’s economy to develop recommendations for a plan that works for all Californians, with a focus on the regions and communities hardest hit by the pandemic.
Read the full press release by clicking
Small Business Assistance
To conclude, the Office of Economic Development recognizes that, as a small business owner, you are focused on resiliency and recovery. We are here to support you and your business during this difficult time, so if you need anything, send us a message anytime via
In community spirit,
Economic Development Director
455 E. Calaveras Blvd., Milpitas CA 95035