Business Loans and Grants

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Federal Loans and Grants

  • Coronavirus Aid, Relief and Economic Security (CARES) ActOn March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act, also known as the CARES Act, was signed into law. The act provides assistance to small businesses through emergency grants, forgivable loans and relief for existing loans. Below is a summary of the CARES Act’s small business provisions, which are being carried out by the Small Business Administration, or SBA for short. 
    •  Paycheck Protection Program
      • Small businesses and eligible nonprofit organizations, veterans organizations, and tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
      • Under this program:
        • Eligible recipients may qualify for a loan up to $10 million determined by eight weeks of prior average payroll plus an additional 25% of that amount.
        • Loan payments will be deferred for six months.
        • If you maintain your workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first eight weeks of payroll and certain other expenses following loan origination.
    • Economic Injury Disaster Loans and Loan Advance
      • SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue.
      • Small businesses are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
      • Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.
    • SBA Debt Relief
      • The SBA Debt Relief program will provide a reprieve to small businesses as they overcome the challenges created by this health crisis.
      • Under this program:
        • SBA will pay the principal and interest of current 7(a) loans for a period of six months.
        • SBA will pay the principal and interest of new 7(a) loans issued prior to September 27, 2020.
  • Disaster Loan Program: SBA is providing low-interest disaster loans for working capital to small businesses suffering substantial economic injury as a result of coronavirus. 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. Apply online and check application status.  
  • Capital Loans: SBA works with lenders to provide loans to small businesses. The agency doesn’t lend money directly to small business owners but sets guidelines for loans made by its partnering lenders, community development organizations that makes it easier for small businesses to get loans. Loans guaranteed by the SBA range from small to large and can be used for most business purposes, including long-term fixed assets and operating capital. 

State Loans and Grants

  • Disaster Relief Loan Guarantee Program: California’s Infrastructure and Economic Development Bank, or IBank for short, is issuing loan guarantees of up to 95 percent of the loan through its partner Financial Development Corporations. This program will help lenders and small businesses by providing loan guarantees of up to $1 million for small business borrowers in declared disaster areas.
  • Jump Start Loan Program: California IBank is offering loans from $500 to $10,000 to low-wealth entrepreneurs in the declared disaster and emergency areas. 
  • California Capital Access Program: Office of the California State Treasurer is offering a small business loan program with special disaster assistance.

Local Loans and Grants

  • C-19 Emergency Relief Working Capital Loan: CDC Small Business Finance is offering working capital emergency loans from $20,000 to $150,000 for California businesses. These loans can be used to cover payroll, rent or mortgage, utilities, insurance and more.
  • C-19 Emergency Relief Microloan: CDC Small Business Finance is offering emergency relief microloans up to $50,000 available only to California businesses. There is no payment requirement for the first 90 days of this loan.

Private Sector Loans and Grants

Contact Us

  1. Economic Development Team

    201 S Anaheim Boulevard
    Suite 1003
    Anaheim, CA 92805

    Phone: 714-765-4592
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