Annuity.org, a free web finance resource accredited by the Better Business Bureau, recently published a guide that examines the impact of COVID-19 on women in the labor force.
The COVID-19 pandemic’s economic impacts know no boundaries, with statistics showing that the financial hits are disproportionately affecting working women and women of color. This guide also includes resources for women and businesses.
For a two-week period, the Small Business Administration and Paycheck Protection Program lenders will process loan applications ONLY from nonprofits and for-profit businesses with fewer than 20 employees.
Special Application Window:
Wednesday, February 24, through Tuesday, March 9
Why? To provide more equitable relief by “targeting the PPP to the smallest businesses (and nonprofits!) and those that have been left behind in previous relief efforts,” and to ensure that lenders give smaller employers the attention they need to work their way through the application process.
If you think your nonprofit may be eligible for an initial PPP loan or a second draw loan – and your organization has fewer than 20 employees – NOW is the best time to contact a lender (find eligible lenders) and find out how much relief may be available to you.
The Small Business Deposit Credit Program is designed to provide relief to local small businesses adversely impacted by COVID-19 restrictions. To ease the financial pressures faced by our commercial customers, qualified small businesses may now request to apply their utility account deposit as a direct bill credit to their RPU account.
Customers must meet ALL the following qualifications:
1. The Customer must fit the definition of a Small Commercial Customer, which is defined for the purpose of this rule only as a commercial customer who employs 50 full-time employees or less as of December 31, 2019.
2. The Customer must self-certify in writing, using the application provided, that their business has been adversely impacted by COVID-19 restrictions, either by loss of revenue, reduced work hours or temporary closure of business.
3. The Small Commercial Customer shall not be classified as an “essential critical infrastructure” business under California Governor Newsom’s Executive Order N-33-20.
4. Customer must have maintained a good payment history for at least three (3) consecutive months from December 2019 to March 2020.
Application can be submitted on or before March 31, 2021 by any of the following:
Riverside Public Utilities
ATTN: Small Business Deposit Credit
3901 Orange Street
Riverside, CA 92501
Please allow up to 2 weeks to review and process the application. Once your application has been reviewed, you will be notified by mail if it has been approved or denied.
For questions, call 311 Call Center at (951) 826-5311 or email RPUSBA@RiversideCA.gov.
- For eligibility and full program guidelines, click here. Applications are open now!
- For the full text of the report, click here.
The US Economic Development Administration announced it is seeking applications for $25 million in grants under the FY 2020 Scaling Pandemic Resilience Through Innovation and Technology (SPRINT) Challenge. https://eda.gov/oie/sprint/
Applications are due Thursday, December 3, 2020, at 11:59 pm EST.
We hope that you and your communities are continuing to stay well and safe.
When Wells Fargo launched the Open for Business Fund on July 9, they knew that COVID-19 would have a profound impact on small businesses. That’s why the Open for Business Fund was developed: to help small businesses recover and rebuild, with a focus on capital, technical assistance, and long-term recovery efforts. At launch, the first grant cycle of roughly $250 million for Community Development Financial Institutions (CDFIs) opened through August 7 and these applications are now under review.
The Open for Business Fund is now accepting applications for the second grant cycle on technical assistance for small business owners. Eligible nonprofits can apply through October 23 and we will award approximately $50 million in grants to nonprofit organizations to support and expand critical technical assistance services to small businesses as they navigate the economic effects of COVID-19. The program is designed to emphasize Black, African American, Latino, Asian American, American Indian, and Alaska Native owned businesses, acknowledging that these businesses have been disproportionately impacted by the global health crisis. This does not exclude nonprofits serving all segments of diversity, including women-owned, persons with disabilities, LGBTQ, veterans, and small business owners of other diverse backgrounds; we welcome all to apply.
Grant size will be determined based on evaluation of the organization’s capacity, geographic scope, and alignment with the program’s selection criteria. Grants, generally ranging from $250,000 up to $1,500,000, may be awarded. For small- to mid-sized nonprofits that do not have the capacity to manage the minimum grant award, we encourage collaborations with other organizations if possible.
You are invited to review the attached guidelines and consider submitting an application for an award. The guidelines include eligibility requirements, selection criteria, and examples of uses of funds, application information, and a general outline of anticipated reporting expectations. Please note that you must be a non-profit with a 501(c)(3) IRS designation to apply for funding.
The application can be accessed at this unique URL: www.cybergrants.com/
The application period opens on September 28, 2020 with applications due on October 23, 2020 (11:59 pm Pacific Time). Applications are expected to be evaluated through the fourth Quarter of 2020 and awardees funded beginning in the first Quarter of 2021.
Additional Open for Business grant opportunities focused on recovery and resiliency will be announced early Q1 2021. Reach out with any questions to smallbusinessphilanthropy@
The City of Riverside announced a new addition to their line up of Business Support Programs! In partnership with the United Way of the Inland Valleys, the City is offering a one-time grant of up to $10,000 to support Riverside small businesses with between 1 and 50 employees that have been negatively impacted by COVID-19. Recipients of other assistance including federal, state and local funding can still qualify. Eligibility is based on demonstrated need and grants will be awarded quickly on a first come, first reviewed basis.
To be eligible for this grant, your business:
- Must be located within the City of Riverside and held a valid business license prior to March 1, 2020 (if license expired during COVID-19, must be willing to renew license prior to receiving funding)
- Must adhere to federal guidance and the state’s stay-at-home requirements and other health requirements
- Must have between one (1) and fifty (50) employees as of March 1, 2020
- Must have no more than $10 million in annual revenue
- Must have experienced mandatory shutdown or substantial (and demonstrable) change in business operations. Voluntary shutdowns are ineligible.
- Be a for-profit business (not a non-profit) – Check out their Non-Profit Grant Program
The County of Riverside is here to support businesses that have questions or concerns as it relates to COVID-19 readiness and reopening. A County of Riverside Business Ambassador is available to visit your business, at no-cost, to conduct an individualized assessment to help your business run safely and efficiently. During the visit Business Ambassadors will provide your business with a toolkit and other helpful resources. Business Ambassadors are able to do phone consultations if that is preferred. These free consultations are brought to you by the County of Riverside to serve businesses during these unfamiliar and fluid times. Click on the link above or call (951)-955-0493 to request a consultation or for more information.
Altura Credit Union is helping local businesses recover from COVID-19 by providing ten $10,000 grants to selected businesses through a new Small Business Empowerment Grant. Businesses located in Riverside County with fewer than 10 employees that have been in business for more than two years can apply for the grant between August 14 and September 4. Those interested in applying will be required to provide business documentation, a written statement, and a short video highlighting why they should be selected.
The City of Moreno Valley has Forward MoVal Small Business Grant Program to support small businesses and stimulate the local economy through job growth and retention during the time COVID-19.
The City of Jurupa Valley has a new program to provide grants to small and micro-enterprise businesses in the city that have been economically impacted by COVID-19. The application period will close at 4:00 PM on July 23, 2020.
The City of Perris has a local Small Business Assistance Program, offering up to $10,000 loans to qualifying businesses. Loans will be issued on a first-come, first-served basis.
This grant program is a United Way Inland Valleys’ project in partnership with the City of Riverside Community Development Block Grant (CDBG) program, that offers a one time grant up to $7,500 to help assist small businesses with their needs during the local emergency. Businesses eligible to apply must be located within the City of Riverside, have 5 or fewer employees (including the owner), be an owner of low to moderate income, or is able to employ people who are of low to moderate income.
To support local small businesses and help ensure ongoing compliance with State and County Health orders and direction, San Bernardino County is implementing the COVID Compliant Business Partnership Program. This program has two components: (1) Funding of $2,500 for eligible Small Businesses with 1-100 employees and (2) Support and Partnership for ALL eligible County businesses who wish to become a COVID Compliant Business Partner. Prior to receiving funding, San Bernardino County small businesses must demonstrate compliance with State/County public health orders, and incorporate safety and social distancing practices and measures in their business operations. Deadline for Application: August 31, 2020. `
Governor Newsom’s Task Force on Business and Jobs Recovery, along with CalOSBA and GO-Biz, are helping Californians #ShopSafeShopLocal to support small businesses .This partnership includes industry leaders and small business experts to provide California’s small businesses with the tools and resources to help them adapt to the new marketplace and create in-person and online safe shopping experiences for us all.
The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Small business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan due to Coronavirus (COVID-19).
The CA Small Business Development Center is providing resources to the small business community. Their resources include information on: applying for relief, cash flow concerns, supply chain interruptions, workforce capacity, insurance coverage and more.
Riverside County Economic Development is providing breaking news, business resources and quick links to assist the local community in response to COVID-19.
AT&T has provided a 60-day “Keep Americans Connected” pledge to support wireless, home phone, broadband residential and small business customers.
On march 16th, Charter committed to provide support in a variety of way to its 29 million customers for 60 days in response to COVID-19.
Bank of America announced additional support for its 66 million Consumer and Small Business clients in response to the unprecedented challenges of the coronavirus. The company is offering assistance to clients through its Client Assistance Program and continuing to provide access to the important financial services on which these clients rely.
Facebook is offering $100M in cash grants and ad credits to help during this challenging time.
The Inland Southern California MicroEnterprise Collaborative has created the Inland SoCal SourceLink to connect small businesses with with resources for success and growth. The Inland SoCal SourceLink is a search bar and provides different categories to narrow the businesses search to connect them to the best resource.
CEEM is an economic cooperative committed to helping African Americans create wealth through uniting our efforts and investing in Black-owned ventures. Presentation to the weekly Wednesday group here.