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.
Updated Jan. 19, 2021
In support of the COVID Relief Act signed into law Dec. 27, 2020, SAFE Credit Union will offer the next round of U.S. Small Business Administration (SBA) PPP loans to existing SAFE Business Banking members. To maximize the number of members we support and to ensure your wellbeing, we will only accept PPP loan applications through our secure, online portal.
If SAFE is your primary financial institution for your business and your business has experienced financial losses in 2020 due to COVID-19, you will be eligible to apply for the loan through SAFE. We are waiting for additional guidance from the SBA and the U.S. Treasury before accepting applications. We will provide updates on when our application portal is ready for you here. We thank you for your patience.
In the meantime, there are certain steps you can take now in preparation.
Please check back here for the latest updates from SAFE on our application procedures. Please keep in mind that past cycles of the PPP program saw numerous changes and updates to various aspects of the program. You can stay informed about updates to the program at the SBA’s PPP site.
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
1 Available by member request. Subject to approval.
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