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<\/p>\nSan Andreas, CA… On December 20, 2020, Congress passed a new Economic Stimulus Package. Here are some important things that businesses need to know; most important, business funding grants will be on a first come first serve basis, and call your bank tomorrow to find out whether they are participating in funding options like the Paycheck Protection Program (PPP) and\/or other grants and loan programs.<\/p>\n
<\/p>\n
If your bank is not participating, you may want to contact the banks below. Staff will continue updating the list status.<\/p>\n
\uf0b7 Oak Valley Community Bank – Apply or find info HERE
\n\uf0b7 Wells Fargo – Apply or find info HERE
\n\uf0b7 Bank of Stockton – Apply or find info HERE
\n\uf0b7 US Bank – Apply or find info HERE
\n\uf0b7 Umpqua Bank – Apply or find info HERE
\n\uf0b7 Bank of America – Find info HERE
\n\uf0b7 Chase Bank – Apply or find info HERE
\n\uf0b7 BBVA \u2013 Apply or find info HERE
\n\uf0b7 Rural Community Assistance Corporation – Apply or find info HERE<\/p>\n
Some changes to the program are as follows:<\/p>\n
\uf0b7 It would expand eligibility under the program for nonprofits, local newspapers and radio and TV broadcasters.
\n\uf0b7 A new allocation of $15 billion for performance venues, independent movie theaters and other cultural institutions<\/p>\n
Reminder, The PPP is a federal loan program that helps small and medium-sized businesses impacted by the coronavirus (COVID-19) to assist with covering costs related to payroll (including healthcare and certain related expenses), mortgage interest, rent, leases, utilities and interest on existing debt. The loan is an SBA 7(a) loan.<\/p>\n
For more information contact Kathy Gallino at kgallino@co.calaveras.ca.us
\nFeatures of the PPP Loan were as follows in May of 2020 (indications are that this new package will be the same):<\/p>\n
\uf0b7 1.00% fixed interest rate
\n\uf0b7 Loan amounts up to 2.5 times the average covered monthly payroll costs, not to exceed $10 million
\n\uf0b7 No fees
\n\uf0b7 No prepayment penalties
\n\uf0b7 No business collateral or personal guarantee required
\n\uf0b7 Loan forgiveness for eligible payroll, mortgage interest, rent and utilities during the covered period after origination
\n\uf0b7 Payments are deferred for six months<\/p>\n
Remember, the State\u2019s Business Resilience Roadmap can be found HERE and contains industry specific guidance and checklists for businesses reopening safely.<\/p>\n
Additionally, the Calaveras County\/City of Angels Camp Business Resource Guide is located HERE and is packed with information and resources. Lastly, information on government programs designed for employers and workers supporting sick leave and worker\u2019s compensation regarding COVID-19 ca be found HERE.<\/p>\n
For more information contact Kathy Gallino at 209-754-6742 or by email at
\nKgallino@co.calaveras.ca.us<\/p>\n","protected":false},"excerpt":{"rendered":"
San Andreas, CA… On December 20, 2020, Congress passed a new Economic Stimulus Package. Here are some important things that businesses need to know; most important, business funding grants will be on a first come first serve basis, and call your bank tomorrow to find out whether they are participating in funding options like the […]<\/p>\n","protected":false},"author":1599,"featured_media":112263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[20,149,5,1,8],"tags":[],"class_list":["post-112255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-financial","category-government","category-news","category-san-andreas","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2020\/12\/image003-1.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/112255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1599"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=112255"}],"version-history":[{"count":0,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/112255\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/112263"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=112255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=112255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=112255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}