Financial Resources

For further assistance on financing options, application assistance and overall business support:
Contact Imperial Valley Small Business Development Center and sign up for confidential one-on-one business counseling funded by SBA. 
 
 
COVID-19 Funding Opportunities:
 
 
The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can help overcome the temporary loss of revenue your business may be experiencing. You may receive a $10,000 grant available within three days of a successful application. *Agricultural businesses now eligible
 
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Designed to encourage employers to keep their workers on payroll. Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards. To apply, contact SBA any approved lender or credit union in your area. Download Imperial Valley Approved Lenders List
 
 
 
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SBA is offering a pilot program n in which SBA Express Lenders are granted authority to deliver expedited SBA-guaranteed financing on an emergency basis for disaster-related purposes to eligible small businesses, while the small businesses apply for and await long-term financing (including through SBA’s direct Disaster Loan Program, if eligible).
 
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As part of SBA's debt relief efforts, the SBA will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for a period of six months. The SBA will also automatically pay the principal, interest, and fees of new 7(a), 504, and microloans issued prior to September 27, 2020.
 
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The Imperial County Board of Supervisors have developed a loan program to aid local for-profit and non-profit businesses. Businesses already receiving community or agricultural benefit funds and are in good standing with the County are eligible for this program. This program is first come first serve. Application opens May 18.
 
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City of El Centro is now offering the Coronavirus Microenterprise Loan Program - a low interest, forgivable loan up to $10,000.
 
Click here for program overview.
Click here for loan checklist.
Click here to apply.
 
City of El Centro Infrared Thermometer Program: Businesses can apply to recieve infrared thermometers to be used for customer and employee safety.
 
Click here to apply.
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The State Compensation Insurance Fund is accepting applications for the following programs: Essential Business Support Fund and the Returning California to Work COVID-19 Safety Protocol Fund with up to $10,000 grant for covering COVID-19 safety expenses.
 
 
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Employers can apply for the Work Sharing Program if reduced production, services, or other conditions cause them to seek an alternative to layoffs.
 
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USDA Rural Business Cooperative Services
 
Beginning immediately, through July 31, 2020, USDA Business and Industry Loan Guarantees (B&I) and Rural Energy for America Program (REAP) Guaranteed lenders may assist borrowers experiencing temporary cash flow issues by deferring payments for a period up to 120 days. USDA is also issuing extensions for grant application deadlines and home loans.
 
For more information on business, community and resident resources with USDA, visit: https://www.rd.usda.gov/coronavirus
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IRS People First Initiative
 
Taxpayer relief options are available. The IRS is currently providing sweeping series of assistance (extensions, etc.) on a variety of tax issues ranging from easing payments to postponing compliance actions.
 
Click here for more information.
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California Tax Relief
 
Taxpayers may request assistance by contacting the California Department of Tax and Fee Administration. Requests for relief of interest or penalties or requesting an extension for filing a return may be made by:
Customer Service Center at 800-400-7115
Mail: California Department of Tax and Fee Administration: Return Analysis Unit, MIC 35, PO Box 942879, Sacramento, CA 94279-0035

 

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