News from Representative Sánchez

   

Dear Neighbor,

Many local small businesses in our community are feeling an immense amount of strain from the ongoing coronavirus pandemic. While our work is far from finished, I want to share several resources available to you through the CARES Act. We can all do our part to keep our vibrant community in business during this difficult time.  

Support Your Local Small Businesses

Just because we are temporarily staying home doesn’t mean we can’t help out our neighborhood businesses. Consider these options to help out those small businesses impacted by Governor Newsom’s Stay at Home Order and Los Angeles County’s Safer at Home Order.  

  • Order takeout or delivery from your neighborhood restaurants.  
  • If available, consider buying gift cards for future use.  
  • Check if your local business is operating online and consider “shopping small online” before heading to larger retailers. 
  • Share your favorite small business on social media.  

Helping Small Business Owners Pay Their Employees

If you are a small business owner impacted by the coronavirus pandemic, your business may be eligible for some, or all, of these resources under the CARES Act.   

  • Paycheck Protection Program (PPP) Loans – This program provides 100 percent guaranteed, low interest, no fee loans of up to $10 million for small businesses to continue paying their employees during this crisis. The entirety of the loan will be forgiven if your business keeps employees on during the crisis. Click here to learn more about a PPP loan and see if you qualify. 
  • Employee Retention Tax Credit – Employers can claim a refundable tax credit equal to 50 percent of wages (up to $10,000 per employee) paid after March 12, 2020. Click here to learn more.
  • California’s Work Sharing Program – As an alternative to laying off workers, California's unemployment insurance system will temporarily pay a portion of wages while businesses retain employees and provide essential benefits. If you are experiencing a slowdown in your businesses as a result of the coronavirus impact on the economy, you can apply here.

Financial Relief for Small Businesses

These resources can help your small business with rent, utilities, payroll, and other major expenses during this challenging time.

  • Economic Injury Disaster Grants – This program offers an advance of $10,000 to small businesses and nonprofits that apply for a Small Business Administration (SBA) Economic Injury Disaster Loan. The advance does not need to be repaid, and may be used to provide paid sick leave to employees, maintain payroll, or other essential expenses. Click here to learn more. 
  • Debt Relief for Existing and New SBA Borrowers – If your business currently has a loan through the SBA’s 7(a), 504, or micro loan programs, you will receive automatic debt relief during the pandemic. SBA will automatically pay the principal, interest, and fees of these existing loans and those issued before September 27, 2020. Click here to learn more.
  • Delayed State and Federal Tax Filing Deadlines – July 15, 2020 – State and federal tax filing deadlines have been extended to July 15, 2020. To apply for special assistance, including filing and payment extensions, and/or relief from interest and penalties, click here.
  • California’s IBank Disaster Relief Loan Guarantee Program – The State of California provides this resource as an option for small businesses that may not qualify for federal funds (including businesses in low-wealth and immigrant communities). It provides guarantees for loans of up to $50,000 for small business borrowers in declared disaster areas. Click here for additional information. 

Help Navigating These Resources

The Long Beach Small Business Development Center and other partners of the Small Business Administration provide free counseling to determine program eligibility and application assistance. Visit SBA’s Local Assistance Directory to locate the office nearest you.

How Businesses Can Help First Responders

  • Businesses that have medical supplies or equipment to donate, click here.
  • Businesses that want to sell medical supplies or equipment to the federal government, please email specifics to covidsupplies@fema.dhs.gov.

Know that I always want to hear your thoughts. You can call my office at (562) 860-5050 or visit my website to do so. For additional updates, follow me on Facebook and Twitter.

Sincerely,

Linda T. Sánchez
Member of Congress

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Always Here to Help

I am always available to help you with any federal matter. Please contact me if you need help with a federal issue, such as Medicare or federal agencies including the Social Security Administration or the Department of Veterans Affairs, would like to order a flag, are requesting tours and tickets for a visit to Washington, DC, or are considering applying to a military academy.

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