As COVID-19 continues to affect our community, federal, state, county and local organizations have made even more resources available for citizens, including small business owners. These are the latest updates.
The Greater Coachella Valley Chamber of Commerce - in partnership with the Indio Chamber of Commerce - has established a COVID-19 helpline and email link. Call or email in for questions about unemployment benefits, business loans and grants, referrals for services, available resources and more.
Phone: 760-347-0676; Monday through Friday; 9 am to 4 pm
New assistance for businesses will be available on Friday, April 3, through the recently passed federal CARES Act. A full press release regarding the CARES act is available HERE.
Business owners may wish to gather the necessary materials today in order to prepare for their applications. Resources include:
Paycheck Protection Program: This program is intended to cover the cost of retaining employees. It will be in the form of a forgivable loan. Please see the Small Business Owners Guide HERE for more information.
Cash Advance Program: There also is a new program to provide $10,000 to those who have applied for an Emergency Relief Assistance Loan. These funds can be accessed within three days of a successful loan application. Learn more in the Small Business Owners Guide HERE.
Tax Relief: The CARES Act provides extensive tax relief for individuals and businesses. For information on how you might benefit, see the guide HERE.
Express Bridge Loans
This pilot program has been expanded. Intended as a supplement to the SBA (Small Business Administration) Disaster Loans, the EBL Pilot Program authorizes SBA Express Lenders such as your local bank to provide express SBA-guaranteed bridge loan financing to businesses affected by the COVID-19 crisis, in amounts up to $25,000. Business owners must apply directly through SBA-approved lenders. For more information, see the Program Guide HERE.
Small Business Support Webinars
The City of Desert Hot Springs will be announcing a series of COVID-19 support webinars shortly.
In the meantime, you may access the recording and PDF version of a recent Small Business Support Webinar HERE, featuring Mike Daniel (Regional Director of the Orange County Inland Empire SBDC Network), as well as Supervisor V. Manuel Perez and Joaquin Tijerina (Director, Coachella Valley SBDC).
For general information on the SBDC, visit their website HERE.