Disaster Funding options for small businesses
The East County EDC has set up an online discussion on Disaster Funding options for small businesses. This video can be viewed online anytime on our Facebook.View webinar here
April Small Business Training Workshop Schedule
All of our workshops are currently held remotely
1:00 pm - 3:00 pm: Business Plans That Get Results Register Here
8:30 am - 12:30 pm: Connecting with Capital Expo! Register Here
1:00 pm - 3:00 pm: Opening and Operating a Successful Retail Store Register Here
10:00 am - 12:00 pm: Build Customer Loyalty with Excellent Customer Service Register Here
11:00 am - 1:00 pm: How Social Media Can Make or Break Your Business Register Here
1:00 pm - 3:00 pm: Business Loan Readiness Register Here
1:00 pm - 3:00 pm: Creating a Sales Plan That Produces Long Term Results Register HereSmall Business Funding Options for San Diego Businesses Impacted by COVID-19
Friday, April 10, 2020
2:00 - 3:00 PM (PT)
As new developments continue to unfold around the spread of COVID-19, many small business owners have questions about how closures will impact their business and employees long term.
Topics of discussion include:
Update on federal, state and local assistance available to small businesses.
How the Paycheck Protection Program (PPP), which was included in the CARES Act is expected to work
Small Business Development Center updates, including an overview of Economic Injury Disaster Loans (EIDLs)
An overview of alternative lending options including micro-loans, SBA's loan guarantee program, CDFIs and reputable online lenders
Serving the Region's Small Business CommunityFunded in part through a Grant with the Governor's Office of Business and Economic Development.East County EDC is part of the San Diego & Imperial SBDC Network, serving entrepreneurs and small businesses with low to no-cost services to support business growth.Funded in part through a cooperative agreement with the US Small Business Administration.Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Contact Michael Sovacool, Small Business Administration, 550 West C Street, Suite 550, San Diego, CA 92101, (619) 727-4885.April Training Workshop Schedule4/15/2020
4:00 pm - 6:00 pm: Capabilities Statements: Why They Are Crucial For Government Work Register Here
1:00 pm - 3:00 pm: Government Subcontracting: Strategies for Small Businesses
Register HereOur members, Cox Communications, will not terminate internet or telephone service to any residential or small business customer because of an inability to pay their bills due to disruptions caused by the pandemic.
Cox will also waive internet or telephone late fees that residential or small business customers incur because of their economic circumstances related to the pandemic.
Visit Cox.com for more information.SDG&E also knows that customers’ lives and income have been affected by this public health crisis. For that reason, SDG&E will not shut off service to customers with unpaid bills until further notice.They are also working out flexible payment plans, you may call them 1-800-411-7343 to work out a payment plan. Visit SDG&E for more information.The SANDAG iCommute program has developed a telework webinar series for regional employers and employees as they shift to teleworking during the COVID-19 crisis. Additional resources for employers and teleworkers are available online.Visit their websiteThe San Diego County Water Authority and its 24 member agencies have increased regional coordination and communication during this unprecedented time to provide uninterrupted access to clean and abundant supplies.
Tap water in the San Diego region remains safe to drink due to numerous robust treatment processes used by local and regional water providers.
To learn more about the Water Authority’s response, go to www.sdcwa.orgMore resources for small businesses during COVID-19 onlineVisit CA SBDC websiteOn - Demand Webinar: Covid-19 and Capital for Small Business (PPP).
Registration is required to receive the link to the recordingPPP WebinarOn - Demand Webinar: Covid-19 and Capital for Small Business (EIDL)
Registration is required to receive the link to the recordingEIDL WebinarPaycheck Protection Plan (PPP) Loans
These loans will work under the SBA 7a program. They will be applied for with banks and lenders. The primary purpose is for businesses to continue to pay their employees during this crisis even if they are getting paid sick leave. The amount loaned will be 2.5x a company's fully loaded (less retirement only) monthly payroll. The monthly payroll can include owner draw, 1099 contractors, and all W-2 employee's pay. This includes payroll taxes and even group health benefits. Other expenses that can be paid with this loan include rent or mortgage payments. This loan may be forgivable. Please contact your business banker to discuss PPP further.Economic Injury Disaster Loan (EIDL) Process
The SBA EIDL application, which includes the $10,000 advance is now at https://covid19relief.sba.gov/#/ It is a much simpler process. The business will need:
Gross Revenue 2/1/19-1/31/20
Cost of Goods Sold 2/1/19-1/31/20
Fixed cost expenditures 2/1/19-1/31/20
Bank Account information for deposit of $10,000
All standard business information (address, date started, ownership, etc.)
Download the SBDC's Guide to COVID-19 Loans and forms.Download Forms HereEast County Economic Development Council
127 E. Lexington Ave. El Cajon, CA 92020