COVID-19 Resources for Small Businesses and Nonprofits
Small Business Resources. on COVID-19
The San Mateo County Economic Development Association (SAMCEDA) is regularly updating its page with resources for businesses and workers: https://www.samceda.org/COVID-19-Resource-Links.
The CARES Act, passed by Congress in late March, represents more than $376 billion in relief for. struggling small businesses and nonprofits, which falls into two main buckets: Access to Capital and
Small Business Support. Congresswoman Jackie Speier’s site has details on small business benefits.
Provisions from the recent Paycheck Protection Program impact SBA's 7(a) loan program to help small businesses cover their near-term operating expenses and retain employees. Here are the application form and tips for filling out forms and applying for loans as provided by SAMCEDA:
Paycheck Protection Program (PPP) Information Sheet: Lenders
Paycheck Protection Program (PPP) Information Sheet: Borrowers
The San Mateo Credit Union has special financing options for its members affected by COVID-19 including:
Work Reduction Loans
Skip payment for qualified auto and personal loans
Early redemption on Certificate of Deposit (CD) prior to the maturity without penalty
The San Mateo County Board of Supervisors approved an initial $3 million in Measure K funds to launch the San Mateo County Strong Fund, which:
Helps individuals and families most in need to cover basic household expenses.
Helps small local businesses avoid layoffs, pay rent, and support self-employed residents who don’t qualify for State Unemployment benefits.
Helps non-profit agencies with operating expenses.
Allows individual donors to contribute to the fund through PayPal. 100 percent of the funds raised will stay in San Mateo County.