The United States and state governments have established programs that may provide individuals and small and mid-sized businesses assistance to minimize the economic impact of the novel Coronavirus Disease 2019 (COVID-19). We encourage you to research any such programs that may be applicable to your situation or business. One of the major programs is through the U.S. Small Business Administration which will provide capital and liquidity to certain businesses affected by the Coronavirus. Red Mountain Group has put together this site for informational purposes only.
How to Get Started
Please visit the SBA website for guidance for businesses and employers impacted by Coronavirus Disease 2019 (COVID-19). On the SBA website, you will find:
I’ve Been Impacted and Need Access to Capital
The SBA Loans page can connect you to lenders available to provide you the capital needed to keep the doors open during uncertain times. The Lender Match Program is a free referral tool that can connect you with participating SBA-approved lenders.
I’m Not Certain What to Do and Need Some Guidance
The SBA’s Local Assistance Directory can connect you to several local partners to counsel, mentor, and train small businesses.
Interim Guidance for Businesses and Employers
We encourage you to familiarize yourself and your employees if you haven’t already with the information found here
Small Business Disaster Loan
Small Business Administration Disaster Loan Application – click here.
What is My State Doing?
Several states are beginning to offer guidance and assistance for businesses and individuals impacted by COVID-19. You can access such information through your local and state government websites.
City of Los Angeles Economic Relief Packages for Small Business – Click Here
Reduced Work Hours (information from CA EDD website)
Employers experiencing a slowdown in their businesses or services as a result of the coronavirus impact on the economy may apply for the UI Work Sharing Program. This program allows employers to seek an alternative to layoffs — retaining their trained employees by reducing their hours and wages that can be partially offset with UI benefits. Workers of employers who are approved to participate in the Work Sharing Program receive the percentage of their weekly UI benefit amount based on the percentage of hours and wages reduced, not to exceed 60 percent. Visit Work Sharing Program for additional information.
Potential Closure or Layoffs
Employers planning a closure or major layoffs as a result of the coronavirus can get help through the Rapid Response program. Rapid Response teams will meet with you to discuss your needs, help avert potential layoffs, and provide immediate on-site services to assist workers facing job losses. For more information, refer to the Rapid Response Services for Businesses Fact Sheet (DE 87144RRB) (PDF) or contact your local America’s Job Center of California.
Employers experiencing a hardship as a result of COVID-19 may request up to a 60-day extension of time from the EDD to file their state payroll reports and/or deposit state payroll taxes without penalty or interest. A written request for extension must be received within 60 days from the original delinquent date of the payment or return.
For questions, employers may call the EDD Taxpayer Assistance Center.
• Toll-free from the U.S. or Canada: 1-888-745-3886
• Hearing impaired (TTY): 1-800-547-9565
• Outside the U.S. or Canada: 1-916-464-3502