Wednesday, April 28 - Tuesday, May 4 (5PM)
Eligible grant award: $5,000 – $25,000
Eligible applicants include current waitlisted small businesses and non-profits not selected in previous Rounds, and new applicants. The grant program is for small businesses, non-profits, independent contractors, and sole proprietors with gross revenue of $2.5 million or less, operating since June 1, 2019, and be impacted by COVID-19.
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Oakland will mark National Small Business Week this week with a variety of free workshops and events, including more than a dozen webinars, virtual events and other activities for small business owners and entrepreneurs. Programming includes Debt Deferment & Relief information, SBA Debt Relief Program details, and information regarding loans, PPP, grant applications, and more. See the full schedule and registration links at www.oaklandca.gov/SBW.
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The Restaurant Revitalization Fund includes $28.6 billion in grants for independent food service or drinking establishments – including caterers, brewpubs, taprooms, and tasting rooms – that have 20 or fewer locations, and are not publicly traded.
The amount of the grant will vary depending on when the restaurant opened and the restaurant's revenue amounts, but can be up to $5 million per individual restaurant. Restaurants that opened during 2020 may apply for grants to cover eligible expenses incurred. Businesses that received a PPP loan are eligible for these grants, however, the amount of PPP loans received in 2020 will be subtracted. Those businesses that receive or have a pending application for a Shuttered Venue Operators Grant are not eligible.
Grants may be used for:
Payroll and benefits, mortgage/rent, utilities, maintenance and construction to accommodate outdoor seating, supplies (including PPE and cleaning materials), food and beverage expenses, operational expenses, sick leave & other expenses
It has been reported that for the first three weeks of the application period, SBA will prioritize grants to small businesses owned and operated by women, veterans, and socially and economically disadvantaged individuals.
Several local partners are offering informational sessions for Oakland businesses. Find a roster of helpful webinars HERE.
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Thursday, May 15 | 5pm | FREE | Via Zoom
At the May meeting of the Temescal BID Merchant Committee, City of Oakland Economic & Workforce Development staff will be presenting the City's Economic Recovery Plan, which aims to assist small businesses in reopening and thriving as Oakland emerges from the COVID-19 pandemic.
To ensure that key community stakeholders have a voice and are a part of the effort, join the zoom meeting on Thursday, May 15th at 5pm to learn about Oakland's Economic Recovery Plan, ask questions, and provide feedback. To be successful, economic development strategies and plans must be built through public contributions, feedback and buy-in from business owners themselves. After gathering community feedback, City staff will report on the information captured and deliver a final economic recovery plan in Summer 2021. If you can't attend the meeting, you can still provide feedback by completing a brief survey HERE.
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Oakland Department of Transportation (OakDOT) is developing a new Parking Management Policy for Oakland and is interested in hearing from Oakland merchant about their parking needs and challenges. The City's goal for their new parking policy is ensuring access to parking through increased turnover and availability. The proposals included converting parking payments to a cashless system, increasing parking enforcement to seven days a week (for metered spots only), shifting weekend parking enforcement hours from 8am-6pm to 10am-8pm, and creating Parking Benefit Districts.
OakDOT’s proposals are still in the initial stages, and so staff is currently seeking input from merchants for how the City can improve parking near your business. Take the 2-5 minute survey HERE, available in Chinese, English, Korean, Spanish, and Vietnamese.
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The Internal Revenue Service urges employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19, choose to keep their employees on the payroll. Businesses can claim a refundable tax credit against the employer share of Social Security tax equal to 70% of the qualified wages they pay to employees after December 31, 2020, through June 30, 2021. The maximum ERC amount is $7,000 per employee per calendar quarter, for a total of $14,000 in 2021.
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Applications due by Monday, May 31
The Paycheck Protection Program (PPP) application deadline has been extended to May 31, 2021. New borrowers and certain existing PPP borrowers can apply for this round of the PPP to help fund payroll costs, utilities, rent, equipment, and infrastructure purchased for COVID-19 safety, through a participating lender. Second Draw PPP eligibility includes demonstration of at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.
The maximum loan amount of a Second Draw PPP loan is 2.5 times the average monthly 2019 or 2020 payroll costs, up to $2 million. For restaurants and other food businesses, the maximum loan amount for a Second Draw PPP loan is 3.5 times the average monthly 2019 or 2020 payroll costs up to $2 million.
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Shifra de Benedictis-Kessner | Temescal Telegraph Business Improvement District | 510-860-7327 | info@temescaldistrict.org | www.temescaldistrict.org |
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