COVID-19: Financial Relief & Assistance Programs

The Small Business Administration (SBA) recently launched a new lending portal to navigate its many funding resources.

Paycheck Protection Program

Program Overview

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.

SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

The Paycheck Protection Program will be available through June 30, 2020.

Download: PPP overview
Download: PPP FAQs

Who Can Apply

This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19.

Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standards for those industries.

Small businesses in the hospitality and food industry with more than one location could also be eligible at the store and location level if the store employs less than 500 workers. This means each store location could be eligible.

Download: PPP Borrower Info Sheet

How to Apply

Lenders may begin processing loan applications as soon as April 3, 2020. The government is still working out the details, but you will need to gather the required documentation, complete the PPP loan application (see a sample application here), and apply via an SBA-approved institution, ideally your business’ existing bank. If you’re interested in potentially applying for this loan, reach out to your bank right away to get the process moving. They will likely have more details to enable you to get started. You should consult with your local lender as to whether it is participating in the program. Loans will be issued on a first-come, first-served basis – we highly recommend applying as soon as possible.

Download: PPP Lender Information Fact Sheet
Download: NIFB PPP Forgivable Loans Fact Sheet

Member Banks where you may apply:


*Must be an existing customer or have an open account with the bank 

Pacific Western Bank – (949) 661-4100
View Website

Union Bank – (949) 496-1293
View Website

U.S. Bank – (949) 488-8534
View Website

Citizens Business Bank, Laguna Niguel – (949) 249-0740
View Website

Farmer’s & Merchants Bank, San Juan Capistrano – (949) 488-8550
View Website

Loan Details and Forgiveness

The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.

Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels.  Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.

The U.S. Small Business Administration (SBA), in consultation with the U.S. Department of the Treasury, released on May 15 the application for seeking forgiveness of loans granted under the Paycheck Protection Program (PPP). Download the application form here.

Economic Injury Disaster Loans and Loan Advance

To apply for a COVID-19 Economic Injury Disaster Loan, click here.

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.

The 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 they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

Save Small Business Fund

The U.S. Chamber Foundation Launched a Grant Program to Support Small Business Recovery. Small businesses are the foundation of our communities and our economy, and chambers of commerce are an essential part of that ecosystem. Employing nearly half the American workforce, small businesses keep our neighborhoods running and make them feel like home. The impacts of the coronavirus pandemic have wrought unprecedented financial uncertainty. These businesses need resources and relief — and they need it now.

The US Chamber of Commerce has launched the Save Small Business Fund, in conjunction with Vistaprint, to provide assistance to small businesses and local chambers of commerce impacted by the coronavirus pandemic. Funded by contributions from corporate and philanthropic partners, the Chamber Foundation will distribute $5,000 grants to small employers in the U.S. and its territories.

The Save Small Business Fund is part of the U.S. Chamber of Commerce’s Save Small Business Initiative—a nationwide effort to address small business owners’ immediate needs, mitigate closures and job losses, and mobilize the long-term support the small business community needs for recovery.

Grant applications will open on April 20, 2020. For more information on eligibility, grant timeline, and more, visit

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:

  • The SBA will also pay the principal and interest of new 7(a) loans issued prior to September 27, 2020.
  • The SBA will pay the principal and interest of current 7(a) loans for a period of six months.

SBA Express Bridge Loans

Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.


  • Up to $25,000
  • Fast turnaround
  • Will be repaid in full or in part by proceeds from the EIDL loan

Find an Express Bridge Loan Lender by connecting with your local SBA District Office.

Pandemic Unemployment Assistance (PUA)

On April 28, the California Employment Development Department (EDD) launched the new federal Pandemic Unemployment Assistance (PUA) program to provide financial support to Californians who are out of business or whose ability to provide services has been significantly reduced as a direct result of the COVID-19 pandemic.

This applies to business owners, self-employed, and independent contractors, along with those who have limited work history and others not usually eligible for regular state Unemployment Insurance (UI) benefits. For more information, click here.

Additional & Local Assistance

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are currently eligible to apply for disaster assistance.

Enhanced Debt Relief is also available in SBA’s other business loan programs to help small businesses overcome the challenges created by this health crisis.

For information on additional Lending options, please click here.

SBA provides local assistance via 68 district offices and a nationwide network of resource partners. To find resources near you, please click here.