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PPP Update, Alameda County Vaccine Planning, Tax Credit Application Deadline January 25, Re-opening Resources

January 15, 2021

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Periodically, the City of Oakland’s Economic & Workforce Development Department (EWDD) will send important updates to businesses, nonprofits, independent contractors and our partner organizations who support them. These are just highlights of available resources. For information on all of the support programs available, please visit our Business & Worker Resource web page.

The California Department of Public Health (CDPH) announced, based on ICU data, that the Bay Area region (including Oakland and Alameda County) continues to be under the Regional Stay at Home Order. Once a region's four-week ICU projection shows a capacity of greater than or equal to 15%, the order will be lifted for that area. Read the full Regional Stay Home Order, Supplement to the Order, and frequently asked questions.

View Alameda County’s Approved Open & Closed Businesses at: https://covid-19.acgov.org/reopening.page
In this email: Update on SBA Paycheck Protection Program | Alameda County Vaccine Planning | Tax Credit Application Deadline January 25 | Resources for Re-Opening | Ongoing Business Support | Upcoming Online Workshops & Webinars
Update on SBA Paycheck Protection Program
As of January 11, the Small Business Administration’s Paycheck Protection Program (PPP) has resumed accepting First Draw PPP loan applications from participating Community Financial Institutions, which includes Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), and Microloan Intermediaries. The PPP will open to all participating lenders shortly.

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. For most borrowers, the maximum loan amount is 2.5 times their average monthly 2019 or 2020 payroll costs up to $2 million. For borrowers in the Accommodation and Food Services sector the maximum loan amount is 3.5 times their average monthly 2019 or 2020 payroll costs up to $2 million.

SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses.

First Draw Loans are available to eligible small businesses (typically those with 500 or fewer employees), nonprofits, veterans’ organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors. Larger entities in certain sectors that meet SBA’s size standards for those particular industries can also apply.
  • The legislation sets aside $12 billion specifically for minority-owned businesses.
  • PPP loans – if there is an amount that is not forgiven – have an interest rate of 1%.
  • No collateral or personal guarantees are required.
  • Neither the government nor lenders will charge small businesses any fees.

Check with your banking partner to see if they will be participating in this new round of PPP loans. As soon as partner banks are identified, we will post a resource roster here.

Beginning January 13, Second Draw PPP loans are available for certain qualifying borrowers that have used all of their first loan amounts. Some of the eligibility qualifications include having fewer than 300 employees and being able to demonstrate at least a 25 percent year-over-year drop in sales in at least one quarter. At least $25 billion is being set aside for Second Draw PPP Loans to eligible borrowers with a maximum of 10 employees or for loans of $250,000 or less to eligible borrowers in low- or moderate-income neighborhoods.

The U.S. Internal Revenue Service will allow businesses that got their Paycheck Protection Program loans forgiven to write off expenses paid for with that money, aligning their policy with legislation passed by Congress in December 2020.
The current COVID-19 vaccine supply is limited, and Alameda County is following the State’s vaccine prioritization guidance. As vaccine supplies increase, you will be able to get a vaccine through a County-administered point of dispensing (POD) or your health care provider.

Alameda County is currently in Phase 1a, and anticipates beginning Phase 1b in February (as vaccine supply allows). To receive a notification of when vaccine might be available for you, please fill out one of these forms:

Please note, this is NOT a registration to receive vaccine. The information you provide is kept confidential and will help Alameda County in its planning. The County will contact you with further details about where vaccines will be available when it is your turn. In the meantime, please protect yourself from COVID-19 by wearing a mask, keeping your distance from others, avoiding crowds, and washing your hands frequently.  

To learn more about vaccine planning in Alameda County, please visit their website.
While many businesses are laying off workers, there is a subset of companies who have expanded their workforces during the COVID-19 pandemic. The California Competes Tax Credit (CCTC) is an income tax credit available to businesses that want to stay and grow their busines in California. Businesses of any industry, size, or location can compete for over $180 million available in tax credits. Applicants will be analyzed based on twelve different factors of evaluation, including number of full-time jobs being created, amount of investment, and strategic importance to the state or region. Since 2015, more than a dozen Oakland businesses have received tax credits of over $150 million to create quality full-time jobs. To help businesses apply, a California Competes Tax Credit Webinar is slated for Tuesday, January 19 from 11 a.m. – noon. An Application Guide and Tutorial Videos are also available.
Resources for Re-Opening
Visit the City’s Planning Resources for Business Re-Opening website for the latest information on resources to support re-opening, including:
Ongoing Business Support
A list of up-to-date resources, including information about worker benefits, grants, loans and support services for small businesses, nonprofits and independent contractors, can be found on the City of Oakland’s Business & Worker Resource web page. The site is updated regularly as more information becomes available, so please check it often.
Upcoming Online Workshops & Webinars
Below is a sampling of upcoming workshops and webinars. See additional listings and check for last-minute additions at: https://www.oaklandca.gov/resources/webinars-for-businesses-nonprofits-and-independent-contractors

Keeping Customers & Winning New Ones During COVID 19 - East Bay
Tuesday, January 19, 2:30 – 3:30 p.m.
AnewAmerica Women’s Business Center
Free

Tuesday, January 19, 3 – 5 p.m.
Alameda County SBDC
Free

Wednesday, January 20, 10 – 11 a.m.
NorCal SBDC
Free

Wednesday, January 20, 10:30 a.m. – Noon
NorCal SBDC
Free

COVID-19 Business Reopening -Understanding and Managing the Process-East Bay
Wednesday, January 20, 11 a.m. - Noon
AnewAmerica Women’s Business Center
Free

Websites Made Easy
Wednesday, January 20, 3 – 5 p.m.
Solano SBDC
Free

Keeping Customers & Winning New Ones During COVID 19 - East Bay
Thursday, January 21, 9 – 10 a.m.
AnewAmerica Women’s Business Center
Free

Thursday, January 21, 9 a.m. – 3:30 p.m.
State of California, Employment Development Department
Free

Thursday, January 21, 1:30 – 3:30 p.m.
Alameda County SBDC
Free

Thursday, January 21, 3 – 5 p.m.
Solano SBDC
Free

COVID-19 Business Reopening – Understanding and Managing the Process-East Bay
Friday, January 22, Noon – 1 p.m.
AnewAmerica Women’s Business Center
Free

Return to Work Webinars
Monday, January 25, 8:30 – 10:30 a.m.
EDD, Cal/OSHA, California LWDA
Free

Tuesday, January 26, 9 – 10 a.m.
NorCal SBDC
Free

Tuesday, January 26, Noon – 1:30 p.m.
NorCal SBDC
Free

Tuesday, January 26, 3 – 5 p.m.
Alameda County SBDC
Free

Wednesday, January 27, 1 – 3 p.m.
Alameda County SBDC
Free

Wednesday, January 27, 5 – 7 p.m.
EDD, Cal/OSHA, California LWDA
Free

Wednesday, January 27, 5 – 7 p.m.
Build Peralta
Free

Wednesday, February 3, 10:30 a.m. – Noon
NorCal SBDC
Free

Tuesday, February 9, 3 – 5 p.m.
Alameda County SBDC
Free

Wednesday, February 17, 10:30 a.m. – Noon
NorCal SBDC
Free
 
 

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