COVID-19 Business Resources in Monterey County, California

SBA Loans FAQs

SBA Loans FAQs

Download The Small Business Owner’s Guide to the CARES Act. This useful guide include information on:

Paycheck Protection Program Loans
Small Business Debt Relief Program
Economic Injury Disaster Loans and
Emergency Economic Injury Grants
Small Business Counseling
Small Business Contracting
Small Business Tax Provisions

SMB Loans WhitepaperWASHINGTON - SBA Administrator Jovita Carranza issued the following statement today in response to the President’s address to the nation:

“The President took bold, decisive action to make our 30 million small businesses more resilient to Coronavirus-related economic disruptions. Small businesses are vital economic engines in every community and state, and they have helped make our economy the strongest in the world. Our Agency will work directly with state Governors to provide targeted, low-interest disaster recovery loans to small businesses that have been severely impacted by the situation. Additionally, the SBA continues to assist small businesses with counseling and navigating their own preparedness plans through our network of 68 District Offices and numerous Resource Partners located around the country. The SBA will continue to provide every small business with the most effective and customer-focused response possible during these times of uncertainty.”

Process for Accessing SBA’s Coronavirus (COVID-19) Disaster Relief Lending

The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.

Any such Economic Injury Disaster Loan assistance declaration issued by the SBA makes loans available to small businesses and private, non-profit organizations in designated areas of a state or territory to help alleviate economic injury caused by the Coronavirus (COVID-19).

SBA’s Office of Disaster Assistance will coordinate with the state’s or territory’s Governor to submit the request for Economic Injury Disaster Loan assistance.

Once a declaration is made for designated areas within a state, the information on the application process for Economic Injury Disaster Loan assistance will be made available to all affected communities.

SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.

SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.

SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused response possible.

For additional information, please visit:, contact the SBA disaster assistance customer service center, call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disast[email protected].

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit

Cares Act Updates

The CARES Act, the largest economic relief package in our nation’s history, includes major provisions U.S. Travel Association (USTA) fought for to deliver economic support to travel businesses, travel workers and their families.

USTA has created the Emergency Preparedness and Response: Coronavirus Toolkit that contains the latest information and resources, along with messaging guidance on how best to respond to this evolving issue. It includes talking points for use with the Media, a guide for communicating healthy travel practices, a crisis readiness playbook and more.

When Congress approved the $2.2 trillion CARES Act, Visit California put together brief descriptions of the main components, with links to more detailed documents provided by the U.S. Small Business Administration, Senate Committee on Small Business and Entrepreneurship and more. Click here for more details.

To learn more about your eligibility for relief, click here.

The Paycheck Protection Program

The Paycheck Protection Program is a loan program designed to provide a direct incentive for small businesses to keep their workers on the payroll. This loan provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Starting April 3rd, small businesses and sole proprietors can access this program. Starting April 10, independent contractors and self-employed individuals can apply. Find a participating lender.

Wave Replacement Government Programs

Unemployment Insurance

You may file an Unemployment Insurance claim here: EDD Unemployment Insurance claim if your employer has shut down operations due to Coronavirus or your work hours have been reduced, or you are unable to work normal work hours remotely because your child's school has closed and you do not have alternative day care options.

Disability Insurance

You may file a claim with Disability Insurance if you are unable to work due to COVID-19 exposure (certified by a medical professional). DI provides short-term benefit payments to eligible workers who have a full or partial wage loss due to a non-work-related illness, injury, or pregnancy. Visit

Paid Sick Leave

Employees at worksites with 25 or more employees may be eligible for up to 40 hours of leave per year for specific school-related emergencies, such as the closure of a child's school or day care. Whether that leave is paid or unpaid depends on the employer's paid time off policies. Visit: DIR Paid Sick Leave eligibility and discuss your eligibility options with your employer.

Paid Family Leave

If you are unable to work because you are caring for a sick or quarantined family member with COVID-19 (certified by a medical professional), you may file a Paid Family Leave claim here: EDD Paid Family Leave claim. PFL provides up to six (6) weeks of benefit payments to eligible workers who experience a full or partial wage loss because they need time off work to care for a seriously ill family member or to bond with a new child. Depending on income, benefit amounts represent 60-70 percent of wages and range from $50-$1,300 a week.

Additional Small Business Resources

Information on SBA Loans

  • The U.S. Department of the Treasury announced today that applications for the Paycheck Protection Program (SBA Business Interruption Loans) will open on April 3. Additional resources are available on their website
  • SBA State/Regional Resources Guide: a list of SBA lenders in every state
  • U.S. House Small Business Committee's Small Business Owner's Guide to the CARES Act and CARES Act Small Business Resources
  • SBA's Coronavirus (COVID-19): Small Business Guidance & Loan Resources

Additional Resources

  • How to Hold a Gift Card Extravaganza
  • Adding a Delivery/Take Out Available Category to Your Directory
  • A Template of Ideas for the Delicate Wording When Sending Out Renewal Notices/Invoices