Find Financial Help During These Hard Times
Our small businesses are hurting. Most have closed in compliance with the California mandate for nonessential businesses to shut down. With no revenues, business owners are still obligated to pay suppliers, rent on their space, employees on sick leave, insurance and more. Some are continuing to keep employees on the payroll, knowing how the income loss would be devastating for them. Fortunately, there are financial resources to help our businesses in Inland Southern California stay viable.
The federal CARES (Coronavirus Aid, Relief and Economic Security) Act provides small businesses with:
- Funds to cover costs of retaining employees
- An infusion of cash to pay bills
- Relief for an existing SBA loan, and
- Free technical assistance to help businesses figure out a plan
To learn more, view the CARES Act Guide.
Locally, we are fortunate to have several lenders who can help small businesses navigate the different funding options. All of these lenders have Spanish-speaking staff available.
- Accion is a lender that has specialty loans for different types of businesses and for those who may have been turned down for traditional funding.
- AmPac Business Capital helps clients defer payments with their existing loans with them and apply for microloans, refinance loans and the SBA Disaster Loans.
- CDC Small Business Finance offers a working capital loan and a microloan designed for quick approval. They will also help with the SBA Loans available.
- Opportunity Fund makes loans from $2,600 to $250,000.
For more information about all emergency resources for small businesses in Inland Southern California, see our dedicated webpage.