A stable government and peaceful transition are key to a thriving economy. Yesterday’s attack on the Capitol was an act of sedition and is a threat to the rights of every citizen and our economy.
Our country’s small and micro businesses are on the brink of collapse. With the electoral votes certified, the country needs and we demand that our representatives immediately return to the people’s business and focus their efforts on supporting the sole proprietors, independent contractors, and small businesses that are desperate for aid.
We look forward to working with both sides of the aisle on policies and programs that address the needs of organizations who have worked tirelessly during the COVID-19 pandemic on behalf of American micro entrepreneurs.
President-elect Joe Biden has picked Isabel Casillas Guzman to lead the Small Business Administration. She served as a deputy chief of staff and senior adviser to the Administrator (Maria Contreras-Sweet) during the Obama administration. Since April 2019 she’s been director of California’s Office of the Small Business Advocate, part of that state’s Governor’s Office of Business and Economic Development.
In this Must Know…
- CA COVID Relief Updates: Grants and CA Budget
- PPP Round 2
- Upcoming Trainings on Grand and Loan Funds
- This week’s Goodie highlight is OFN’s Finance Justice Fund for CDFIs.
CA COVID-19 Relief Updates
The California Small Business COVID-19 Relief Grant Program has successfully received thousands of completed applications. The application deadline for Round 1 has been extended to January 13, 2021. The $500M fund provides relief grants for eligible small businesses and nonprofits. These funds do not need to be repaid and can be used to cover a wide range of expenses incurred as a result of the pandemic.
The upcoming state fiscal year promises help for small business, as Governor Gavin Newsom revealed in his budget on Tuesday. Among his requests to lawmakers will be:
- $575 million in grants for small businesses immediately to help them through the pandemic
- $70 million in fee waivers for businesses that have been disproportionately hurt by the shutdown
- more than $600 million in business tax credits and sales tax exclusions
PPP Round 2
The SBA and Treasury have released interim final rules/guidance on PPP 2.0:
- California Relief Grant Train-the-Trainer on January 12, 2021at 3:00pm PST. This session is geared toward members who didn’t participate in Round 1 or want more training on how to best prepare their clients. We also invite those who have been participating to share their knowledge.
- California Rebuilding Fund Listening Session on January 13, 2021 at 1:30pm PST. Join us to get an update on where the program is, discuss the issues people are having, and answer questions.
New Year, New Faces
Please join us in welcoming Mega Jewell, CAMEO’s new Outreach Specialist. She will be helping with our programs including the California Relief Grant Fund and is based in Southern California.
Mega is a former television news reporter and anchor with a background in data and communication. She also was a Women’s Business Center Director. You can reach Mega at mjewell@CAMEOnetwork.org.
For Your Clients
- REDF’s virtual lab for employment social enterprise leaders takes place January 15 and February 19, 2021 at 10:00am PST.
- The deadline to apply for a COVID-19 pandemic Economic Injury Disaster Loan from SBA has been extended to December 31, 2021.