Dear Business Representatives,
November 24, 2020
Dear Business Representatives,
We hope that you and loved ones are staying safe and well as we head into the holiday season. This month has shown us how easily things can change and how the resiliency of our business community is being tested once again as we pivot back to the Purple Tier. I am happy to share a new opportunity to access capital loans and additional resources that may help your business during this challenging time.
California Rebuilding Fund
Launched on November 20th, the CA Rebuilding Fund
is a loan program designed to assist small businesses during COVID-19. Loans, which max out at $100,000, may be used for working capital, inventory, marketing, refitting for new social distancing guidelines, operating and emergency maintenance, property taxes, utilities, rent, supplies, and other appropriate business purposes. This loan can be repaid over the course of 3 or 5 years.
- Employ less than 50 full-time employees
- Gross revenue of less than $2.5 million in 2019
- Have suffered a direct economic hardship from COVID-19
All interested small businesses can apply for a loan by clicking here
– early applications are encouraged! Once you submit a pre-application and it is approved, you will be matched with a participating community lender who will contact you to then submit a full application form. If you need assistance completing the pre-application, please click here
for more resources. If you need help with completing the form in a language other than English or Spanish, please contact the California Small Business Development Centers at 833-ASK-SBDC or email@example.com
COVID-19 Economic Injury Disaster Loan (EIDL) Still Taking Applications
Businesses and non-profits can access another source of capital through the COVID-19 EIDL program, designed to cover a wide array of working capital needs and normal operating
expenses, such as continuation of health care benefits, rent, utilities, and fixed debt payments. Eligible applicants include businesses with less than 500 employees, non-profits, and faith organizations. The link to the application can be found here
. Unlike the Paycheck Protection Program, the EIDL loan is not a forgivable loan; click here
for more details.
State of California Issues Limited Stay At Home Order
Effective November 21st, the State Public Health Officer issued a Limited Stay At Home order
, requiring all gatherings and other non-essential activities involving multiple households to cease between the hours of 10pm and 5am, notwithstanding the continuance of critical infrastructure
businesses. Restaurants must stop outdoor dining by 10pm, however takeout and delivery orders may continue. Between 10pm and 5am, residents cannot leave their homes to interact with other households, however they can still go walk their dogs or pickup food for takeout. This reduction in movement and mixing of households is meant to curb the recent increase in COVID-19 cases, hospitalizations, and deaths.
The County of Santa Clara created a business engagement landing page on its COVID-19 website with valuable resources and information. Information can be found here
or by calling the new COVID-19 Business Call Center at (408) 961-5500.
If you have any questions or need business assistance during COVID-19, please do not hesitate to contact the Office of Economic Development team by sending an email.
Assistance is available in English, Chinese, Spanish, Tagalog, Vietnamese, and other languages. We will continue to send out pertinent updates as they are made available to keep you informed.
In community spirit,
Economic Development Director
Phone: (408) 586-3046
455 E. Calaveras Blvd., Milpitas CA 95035