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Dear Downtown Businesses:
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On the back end of one of the most upsetting days in U.S. history, we learn today that yesterday was also the record-setting day for reporting COVID-19 deaths in our country. In our downtown earlier today, the Cinebar/former Chacho's building on San Fernando Street burned.
Despite these continued hardships, the San Jose Downtown Association is dedicated to helping us move forward.
In 2021, our priorities include: improving cleanliness and safety, supporting small businesses, ramping up marketing efforts, working toward diversity, equity and inclusion goals and renewing the Property Based Improvement District (PBID) responsible for Groundwerx services. |
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California Small Business COVID-19 Relief Grant Program
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The State of California launched a new grant program for small businesses that offers $5k, $15k or $25k grants based on annual revenue, to be used to offset the costs of the COVID pandemic. Unfortunately, the application website was overloaded and crashed.
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As a result, the application period was extended to Jan. 13.
Who Can Apply?
- Eligible small businesses and small non-profits as defined here
- Must be currently open or have a clear plan to re-open once restrictions loosen
How Can I Apply?
- The media release explaining the extension is here.
- Free help with your application is available from the local partners listed on the fund’s website.
- SJDA Business Development Manager Nate LeBlanc can also assist with applications. Contact nleblanc@sjdowntown.com.
How Can I Learn More?
- For more information, visit California Relief grants, which contains detailed information and FAQ.
- You can view a recording of a seminar the City hosted, to help with applications.
- The Small Business Development Centers (SBDC) is hosting a series of webinars for English and non-English speaking business owners. More information is available at SBDC seminars.
Governor previews his $4.5 billion Equitable Recovery for California's Businesses and Jobs Plan, expected to come out later this week
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Still Waiting for Federal Stimulus Package Details
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This extension of last spring’s Paycheck Protection Program (PPP) will provide $284 billion in forgivable loans for small businesses, especially those hard-hit by closures, and includes nonprofits, restaurants and performance venues. The new Act also makes it easier to apply for forgiveness for previous PPP loans.
For help to apply for PPP loans, business owners can contact:
Relief for businesses
- $284.5 billion in funds to reopen and strengthen the Paycheck Protection Program for first-time and second-time borrowers.
- Additional types of organization are eligible such as nonprofit organizations and news outlets.
- New loans are capped at $2 million, compared to $10 million before. Applicants must have no more than 300 employees, instead of up to 500, and must demonstrate at least a 25 percent drop in revenues from the fourth quarter of 2019 to the same period this year.
- Deadline for all new loans is March 31, 2021. Applicants have between eight and 24 weeks to use the funds, with at least 60 percent going toward payroll and the rest toward eligible expenses like rent and utilities.
- The bill expands the type of covered expenses to include things like cloud computing or remote-work software; and equipment for the equipment required for government-mandated operating safely, like sneeze guards or air filtration systems.
- The package provides $15 billion in grants for the entertainment industry, including independent movie theaters, entertainment venues, music clubs and cultural institutions.
- The deal includes $20 billion for targeted grants through the Small Business Administration’s Economic Injury Disaster Loans program.
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