For businesses with up to $10M in gross receipts, the City is deferring payment of quarterly business taxes due April 30, 2020 nine months to February 2021 with no interest or penalties. This will provide immediate cash-flow assistance to 8,050 small businesses.
The City is deferring collection of annual small business license and permit fees that make up the Unified License Bill for three months to June 30, 2020. This will support more than 10,000 businesses.
For more information about the deferral of business taxes or licensing fees, visit COVID-19 Tax and License Deferral.
The City has established a fund administered by OEWD to offer emergency grants up to $10,000 for microbusinesses. Businesses must be able to show a recent loss in revenue.
For more information, visit COVID-19 Small Business Resiliency Fund.
We help San Francisco small businesses work with their landlords for lease negotiation, legal consultation, and related services. Apply here.
The City-sponsored Revolving Loan Fund (RLF) provides access to capital, including microloans and technical assistance.
The Emerging Business Loan Fund (EBLF) offers loans ranging from $50,000 to $250,000 to qualifying commercial projects.
The City will contribute up to 40 hours of additional paid sick leave time extended to employees beyond existing policies through the Workers and Families First Program. This new program will provide financial assistance to businesses and nonprofits and may support over 16,000 additional weeks of sick leave pay and coverage for up to 25,000 San Francisco employees. All San Francisco businesses are eligible, with up to 20% of funds reserved for small businesses with 50 or fewer employees. Applications for the program will be available here later this week — please check back soon for updates.
State of California
The California Governor’s Office of Business and Economic Development (GO-Biz)has resources available to businesses affected by COVID-19. For the most up-to-date state resources for businesses, visit the GO-Biz resource page. The CA Employment Development Division (EDD) is granting a 60-day extension to file state payroll reports and/or deposit state payroll taxes without penalty or interest for employers experiencing hardship from COVID-19. For the most up-to-date information, visit CA EDD’s COVID-19 resource page.
Employers may be able to avert layoffs or work reduction by offering flexibility in work location and hours through telecommuting. The U.S. General Services Administration website provides an array of resources to help guide employers in offering and managing telecommuting or remote work. For more information, visit Resources for Managing Teleworkers.
Partial claims are for employees whose employers want to keep them but have temporarily laid them off or reduced their hours. A partial Unemployment Insurance claim can be used for any claimant who works less than their normal full-time hours, and whose employers want to keep them. For more information, visit Partial Claims.
Employers can apply for the Work Sharing Program if they are looking for alternatives to layoffs due to reduced production, services, or other conditions. This program helps you keep your trained employees so that when business conditions improve, you can avoid the expense of recruiting, hiring, and training new employees, and save your employees the hardship of becoming fully unemployed. For more information, visit Work Sharing.
SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for nonprofits is 2.75%.
The U.S. Small Business Administration is offering San Francisco-based businesses low-interest federal disaster loans for working capital to small businesses and private, nonprofit organizations suffering substantial economic injury as a result of the Coronavirus (COVID-19).
Businesses and nonprofits can apply online bSBA Guidance & Resource Pagey visiting https://disasterloan.sba.gov/ela/
Counselors are available to help if you need assistance with completing the loan application. Please visit the following link to find a counselor in your region: https://www.sba.gov/local-assistance/find/
This page contains consolidated federal resources and information about other SBA loan products for small businesses. For more information, visit SBA Resource Page for Businesses & Employers.