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Business Resources

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Help for our business members

Businesses are being hit hard by the coronavirus pandemic. As government agencies and local authorities direct certain businesses to close and others lose customers while people self-isolate, business owners may find themselves seeking resources to help them and their employees weather the COVID-19 situation. 

SAFE Credit Union has long supported businesses in the Greater Sacramento area with business banking services, from savings and checking accounts to lending. We are here to help our members during this time. In that spirit, we’ve compiled a list of helpful resources for businesses in the Greater Sacramento area.


Resources for businesses coping with COVID-19:
SBA

SBA Paycheck Protection Plan
Congress allocated $349 billion in forgivable loans through the Paycheck Protection Plan, or PPP. The loan provides support for business expenses, including mortgage, rent, payroll, and utilities. The amount is based in part on 2.5 months’ payroll costs.

SBA

SBA Economic Injury Disaster Loans and Loan Advance
The SBA is offering its Economic Injury Disaster Loans and loan advances to help businesses coping with losses due to COVID-19.

SBA
Other SBA COVID-19 assistance
The SBA is also offering SBA debt relief, express bridge loans, and other assistance for businesses.
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Other Non-SBA assistance

Gov. Gavin Newsom announced the state is putting $50 million toward a new “microlending” program through the California Infrastructure Economic Development Bank, or the IBank. The program is aimed at businesses that might not be eligible for Small Business Administration loans or Paycheck Protection Program.

Applications for California's new program are available through the state's coronavirus portal.

EDD
California EDD
The California Employment Development Department provides a number of COVID-19 related resources regarding workplace and employee issues.
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Downtown Sacramento Partnership
The Downtown Sacramento Partnership has put out a tool kit for businesses that includes links to information about health, assistance for businesses, and community fundraisers to support. 
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Regional Chambers of Commerce
Chambers of Commerce in the Greater Sacramento area are providing information for their members through newsletters and teleconferences.
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Commerical loans
Providing commercial loan payment deferral programs to give our business members some breathing room1
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Rancho Cordova and Elk Grove Lift investing
City councils from Rancho Cordova and Elk Grove approved the week of April 6 to provide $1 million each to Region Business, a regional economic development organization operating as Lift Investing.

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1 Available by member request. Subject to approval.

Other Helpful Resources

The Centers for Disease Control is regularly updating its guidelines for businesses and employers about how to promote safety for staff and customers regarding COVID-19. https://www.cdc.gov/coronavirus/2019-ncov/community/organizations/businesses-employers.html

The California Labor & Workforce Development Agency provides comprehensive guidelines for employers and employees. Get insights on paid sick leave policies, disability insurance, unemployment insurance, and more.  https://www.labor.ca.gov/coronavirus2019/

Learn the latest information and mitigation efforts in place in Sacramento County: https://www.saccounty.net/COVID-19/Pages/default.aspx

Follow updates from the city of Sacramento: https://www.cityofsacramento.org/Emergency-Management/COVID19