Financial Assistance, Tax Assistance and Technical Support
We’re here to help! Businessownerspace.com partners SBDC (Small Business Development Center), AnewAmerica, MBDA, and SCORE are available to help prepare loan paperwork, and speak your language.
SBA Paycheck Protection Program Loans
This loan program closed Aug. 8, 2020. Click here for more information.
SBA Disaster Assistance Loans
SBA is now accepting new applications, as of June 15. If your business or not-for-profit has suffered substantial economic injury in a declared disaster area, you may be eligible to apply for a Small Business Administration (SBA) Economic Injury Disaster Loan. Apply through the SBA portal.
State of California’s iBank Program
This program is designed to make loans available to business owners who do not qualify for federal/SBA loan programs, including undocumented immigrants. You can apply or get more information through the partners lined on the Small Business Finance Center website.
Federal Reserve’s Main Street Lending Program
Designed to help more established, larger businesses manage debt, maintain liquidity and sustain payroll. More information is available at the Federal Reserve site.
Established businesses including non-profits may borrow up to $250,000 for 1 to 5 years at competitive interest rates with no fees. Applicants may provide an ITIN rather than Social Security numbers. Assistance is available in English and Spanish.
Loans up to $15,000 at 0% interest are available through this non-profit lending group. Borrowers with strong connections with their clients are most likely to qualify. Non-profits may apply as well. Collateral is not required and there is a 6-month grace period on repayment.
National Small-Business Grant Programs
There are many grant program offered by companies and government agencies, often targeted at specific types of small business. A good list of grant opportunities is maintained by Fundera. Although Fundera is a for-profit website, its grant list is comprehensive and regularly updated.
Deferred Business Taxes for San Jose businesses
The City of San Jose is offering a temporary expansion of its business tax financial hardship exemption. The Financial Hardship Exemption Program is designed to help sole proprietor businesses in the City of San José whose business income is at or falls below two times the poverty level income established by the United States Department of Health and Human Services.
State Tax Assistance
The State of California offers payment plans for personal and business taxes.
Federal Tax Changes
Many businesses that have been negatively impacted by COVID-19 may qualify for new employer tax credits through the Internal Revenue Service. An IRS tool will help you understand what federal tax relief programs are available for your business.
Did you know there are ways to avoid laying off workers? The Unemployment Insurance Work Sharing Program allows you to retain trained employees by partially off-setting wages due to lost hours.