Dear Business Representatives,
The City of Milpitas hosted the Business Resiliency and Recovery Webinar on April 16, 2020. The webinar focused on providing Milpitas businesses with information on the CARES Act and state loans, disbursement of funds, relief programs, youth employment and internships, and other vital resources in response to COVID-19. Presenters included:
o
Dennis King (Executive Director) of the Silicon Valley Small Business Development Center;
o
Mike Ocasio (President/CEO) and Ed Brugman (Chief Information Officer) of the Small Business Development Corporation of Orange County;
o
Warren Wettenstein (President) of the Milpitas Chamber of Commerce; and
o
Cheryl Jordan (Superintendent) of the Milpitas Unified School District.
More than 130 people participated on the webinar. Participants were interested in learning about whether Congress would approve another Stimulus Package soon, IBank funds being used for payroll/working capital, how businesses may hire youth, and successful strategies for businesses to adapt in a crisis environment. Other inquiries consisted of what the business community should expect when the economy reopens, what types of assistance or loans are available for an after-school center and program, and other pertinent inquiries. You can view the webinar
here
.
It is important to note that while the Paycheck Protection Program and the SBA’s Emergency Injury Disaster Loans have been suspended, we believe it is temporary as lawmakers are discussing another stimulus package. Therefore, we recommend that you continue with loan applications for funding through federal, state and private lending institutions. If you need assistance, please send us an email at
BusinessAssistance@ci.milpitas.ca.gov
.
Business Survey
We recently issued a Business Survey to business representatives who have an active business license and an email on record. Since then, the Business Survey has been translated into Chinese, Spanish and Vietnamese languages. Please take a few minutes to fill out the Business Survey, so we can best identify your most pressing needs and respond to the Milpitas business community accordingly.
Facebook Small Business Grants
Facebook is planning to provide $15 million to Bay Area small businesses struggling due to COVID-19 with a specific focus on grants for businesses owned by minorities, women and veterans. The application process is expected to commence soon. You are encouraged to sign up for updates
here
,
and automatic notifications will be emailed along with information on when the application goes live.
Update on Economic Development Council Subcommittee Meeting
The second Economic Development Council Subcommittee meeting took place on April 6, 2020 and focused on business assistance and guidance. Dennis King (Silicon Valley Small Business Development Center) presented on SBDC’s resources associated with COVID-19 such as the Paycheck Protection Program and SBA’s Economic Injury Disaster Loans. In addition, Erica Wood (Silicon Valley Community Foundation) presented on the Community Foundation’s Small Business Relief Fund and partnership with Opportunity Fund, as well their role as a fiscal agent to assist the Milpitas business community should Council approve a City Small Business Loan Program.
The Subcommittee discussed developing a City sponsored Small Business Loan Program. Also, the Subcommittee approved moving ahead with a Council recommendation to change the name to Small Business Assistance (SBA) Subcommittee. And, the Subcommittee agreed to explore a path for assisting small business owners with rent relief through “freezing” commercial rents.
To conclude, the Office of Economic Development recognizes that, as a small business owner, you are focused on resiliency and recovery. We are here to support you and your business during this difficult time, so if you need anything, send us a message anytime via
BusinessAssistance@ci.milpitas.ca.gov
.
In community spirit,
Alex
Alex Andrade
Economic Development Director
455 E. Calaveras Blvd., Milpitas CA 95035
