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Estelle Bussa,
City of Ventura Economic Development Manager
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Business Updates For October 29, 2020 |
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Payroll Protection Program
Simplified Loan Forgiveness Application & Instructions
The U.S. Small Business Administration (SBA), in consultation with the U.S. Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. The instructions for this new application note that the application requires fewer calculations and less documentation for eligible borrowers.
The SBA began approving PPP forgiveness applications and remitting forgiveness payments to PPP lenders for PPP borrowers on Oct. 2.
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Commercial Tenant Protection Ordinance
On October 12, 2020, the Ventura City Council unanimously supported the implementation of a Commercial Tenant Protection Ordinance. The ordinance seeks to balance the interests of commercial landlords and tenants who have been impacted by COVID19 by providing protections for each.
Key provisions of the ordinance include, but are not limited to:
- No evictions for unpaid rent due to COVID-19 until February 2022 if certain requirements are met
- Payment of partial rent for those tenants still unable to pay full rent
- Set repayment scheduled for unpaid rent (begins February 1, 2021)
- Extended repayment schedule (one year with payment deadlines structured to anticipate a gradual return to normal operations)
- Flexibility for tenants and landlords to agree to longer repayment terms
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Housing Is Key Website Launched To Inform Tenants & Landlords
Governor Gavin Newsom launched the “Housing is Key” website aimed at connecting renters and landlords experiencing economic hardship due to COVID-19 with helpful information and resources.
The purpose of the website is to assist tenants, landlords, homeowners, legal assistance and community-based organizations in understanding the current protections available to help households remain housed. This website includes protection guidelines, forms and other resources.
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County of Ventura Business Assistance Grant To Go Out To Thousands Of Local Businesses
The County of Ventura’s Business Assistance Program will move forward to provide funding to all remaining eligible applicants that were not selected during the Round 1 lottery of the program. The potential number of additional recipients is over 3,700. In total, this program will provide up to $24 million directly to our local small businesses and non-profits.
At Tuesday's Board of Supervisors meeting, the Board finalized the agreement to allow for the County to provide program funding and for the Ventura County Community Foundation to complete the administration of the program, granting a $5,000 award to every remaining eligible business.
To date, 777 of approximately 5,000 applicants have received grants. All remaining applicants have been notified of their eligibility status and given an opportunity to opt out of the program if desired. Ineligible businesses can appeal the decision. Checks will be sent to the remaining eligible applicants by the end of November. For any successful appeals, checks will be sent by December 15th.
The Business Assistance Grant Program includes grants of $5,000 each for small businesses to alleviate impacts from COVID-19 for allowed uses such as payroll support, rent and lease payments, costs for personal protective equipment, purchases related to the operation of their businesses, and extraordinary business expenses for adhering to compliance protocols for reopening.
In order to mitigate the devastating economic impacts of the COVID-19 public health emergency, the Board of Supervisors has approved programs for businesses, renters, seniors, homeless persons and hospitals by utilizing a portion of funding that the County received from the federal Coronavirus Relief Fund under the CARES Act.
For questions, please call or email:
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Temporary Outdoor Business Expansion Program
Businesses interested in expanding their business operations onto sidewalks, private parking spaces/lots and some sections of the public-right-of-way as part of the city's Temporary Outdoor Business Expansion Program are asked to visit the city's website for more information on program requirements and how to apply.
There is no cost to apply for the Temporary Outdoor Business Expansion Program.
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Weekly: Monday & Wednesday at 3:00 p.m.
The SBDC is providing Monday and Wednesday webinars for the Small Business Community on information as it relates to funding information during the COVID-19 pandemic. Topics will include Economic Injury Disaster Loan, Payroll Protection Program, Disaster Bridge Loan, 7a Forgiveness Program, and other funding opportunities for your business.
Wednesday, November 4, noon
The EDC is honored to have attorneys Nicole Kamm and Hannah Sweiss from Fisher Phillips LLP join us again to provide a California Employment Law Update for November 2020. This no-cost webinar will review recently-passed California bills that are impacting small businesses, provide an update on current guidance and discuss real-life scenarios employers are tackling today.
Wednesday, November 17, 10:30 a.m.
Join SCORE for a free webinar titled "Four Digital Marketing Strategies to Improve Your Google Ranking". Learn our top four strategies that impact your Google ranking, including the importance of having your business show up in local search results and how you can leverage online reviews to attract more customers.
Wednesday, November 18, 9:00 a.m.
Join SCORE for a free webinar titled "Financially Closing-Out 2020 A QuickBooks Accounting Series - Part 2: Detect & Correct Mistakes and Errors." Weather learning to find your own mistakes or cleaning up for year end taxes and reporting, this workshop expands on the basics to give you insight into your the financial picture of your company.
EDC Webinar "Creative Solutions for Commercial Landlords and Tenants During COVID-19". The webinar covered commercial leasing and finding creative solutions to tenant-landlord disputes during COVID-19 with partners and associate attorneys from Myers, Widders, Gibson, Jones, & Feingold. Their excellent panel with extensive experience in lease negotiation, civil litigation, and resolving business disputes reviewed:
- Lease provisions during COVID-19
- The September eviction moratorium
- Effect of bankruptcies on commercial tenancies
- Strategies to achieving win-win solutions for both tenants and landlords
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View the recorded presentation HERE
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We've created a central location for you to get print and digital Coronavirus COVID-19 design resources from local, state, and national agencies. This toolkit includes social media graphics and printed materials available for download.
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CITY OF VENTURA
501 Poli St, Ventura, CA 93001
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