Small Business Provisions in The Revised State Budget

Last week, Governor Newsom unveiled the May Revision of his 2020-21 budget. The new budget adjusts spending priorities to combat the COVID-19 public health crisis and navigate the current economic fallout.  Before the changes proposed in the May Revision, California faced a budget deficit of $54 billion. To close this gap, the measures taken in

Entrepreneurship Advantage Virtual Meetup: Collaborating in Uncertain Times

Given these uncertain times, it’s essential to connect with our colleagues and stay abreast of important information and resources for LA’s small business community – especially our most vulnerable businesses. To that end, Entrepreneurship Advantage will hold regular meetups with our members to share COVID-19 resources, discuss challenges and strategies, and find ways to support

California’s Economic Outlook and Recovery Roadmap

Today, California Governor Gavin Newsom announced the “Resilience Roadmap,” a detailed set of guidelines for modifying the state’s stay-at-home orders and beginning to reopen businesses in a safe manner.  California will begin moving into Stage 2 today, May 8, with lower-risk workplaces opening gradually with adaptations to keep workers and customers as safe as possible.

Geographic Distribution of PPP Loans – Where Did The Funding Go?

The Paycheck Protection Program was designed to provide government-guaranteed forgivable loans to small businesses affected by the COVID19 crisis. The loans are meant to keep employees on payroll as well as keep up with mortgage and rent payments. The $349 billion allocated for the program ran out in less than two weeks, prompting lawmakers to

Recursos sobre el “Programa de Préstamos por Desastre” de la SBA

El día de ayer organizamos un seminario virtual titulado: “Comprendiendo el ‘Programa de Préstamos por Desastres’ de la SBA para los negocios afectados por la epidemia de COVID-19”. La cantidad de personas interesadas sobrepasó nuestras expectativas y haremos lo que esté en nuestras manos para responder tantas preguntas como podamos. Si usted tiene preguntas técnicas

Entrepreneurship Advantage Spring E-Convening

During our e-convening, we presented resources for entrepreneurs affected by COVID-19 and had a discussion on best practices and challenges in response to the outbreak’s effects on small businesses. Resources Meeting slides Feedback form EA Covid-19 Related Lending Resources for LA County Small Businesses Resources from Sonya Blake and City of LA Coronavirus LA Updates

COVID-19 Relief for Independent Contractors and Freelancers

Thanks to Freelancers Union for providing information for this post! On March 27, the Federal government struck a $2 trillion deal on the third bill to respond to COVID-19 – the CARES Act – the largest aid deal ever in our history. The goal of the bill is to help workers and businesses of all

COVID-19 Concerns for Nonprofits

Thanks to CalNonprofits for collecting and sharing this information! As the Coronavirus crisis unfolds, our organizations have been focused on how to best serve small businesses in these challenging times. But the outbreak also affects us, our staff, and our operations, and many nonprofits have growing questions and are looking for guidance. Below are the

It’s Census Time!

Thanks to Ready Nation for providing information for this post! Today is Census Day! As of today and until August 14, 2020, households around the country will be able to complete their census questionnaires. The census takes place every ten years, so here’s a refresher of what you need to know about the census and

Beware of Scams and Fraud When Applying to SBA Loans

A note from the SBA Office of Inspector General: Fraudsters have already begun targeting small business owners during these economically difficult times. Be on the lookout for grant fraud, loan fraud, and phishing. Report any suspected fraud to OIG’s Hotline at 800-767-0385 or online. Scam and Fraud Scheme Advisory List 1. SBA does not initiate contact on either 7a or disaster loans or grants.  If you